Guide / Toolkit

How to Succeed in Your Digital Journey: A Series of Toolkits for Financial Service Providers - Toolkit #5: Create Your Own Mobile Banking Channel

Guidance for financial institutions interested in creating a mobile banking channel internally

This toolkit is the fifth in a series of six toolkits aimed at supporting financial service providers to integrate digital channels into their service delivery approaches. With this series of digital finance toolkits, a financial institution will be able to choose the best business model based on an assessment of its environment (political, economic, social, technological, and regulatory), objectives, capacity and readiness to carry out the efforts required.

The first two business models of this framework, Toolkit #1: Use Mobile as a Tool and Toolkit #2: Be an Agent, consist in using mobile as a service where basic transactions are performed by staff of the FSP using mobile devices. Toolkit #3: Leverage an Existing Agent Network and Toolkit #4: Develop Own Agent Network describe agency banking, where agents assist clients with the transactions if needed. This toolkit describes mobile banking, where clients transact directly on their financial institution account, performing the operations themselves using their mobile phones.

Toolkit #5 consists of two documents:

  • Business Model Description: Describes the business model and recipe for success. Two international cases, featuring Accion Microfinance Bank (AMfB) in Nigeria and Urwego Opportunity Bank (UOB) in Rwanda, illustrate how to successfully implement this model.
  • Case Studies: Describes the detailed case of three MicroLead partners that have developed their own mobile banking channel: Equity Bank in the United Republic of Tanzania, Mwanga Community Bank Limited (MCBL) in the United Republic of Tanzania and Fidelity Bank in Ghana.