Mobile Banking Project in Indonesia Seeks to Expand Financial Access

Bank Sinar Harapan Bali, AXIS mobile, and IFC have launched a mobile-banking project to establish low-cost banking to expand access to basic financial services for millions of under-served in Indonesia. This pilot project is expected to encourage many more people to open bank accounts for the first time by making opening and maintaining an account via mobile phones easy for Indonesians who currently have no access to financial services.

The initial focus of this 16-month project will be to build awareness and trust in electronic transactions among the target population. In the next step, Bank Sinar Harapan Bali will introduce the use of mobile phones and other mobile devices for banking transactions, especially in rural areas.

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