scholarly journals Collaborative Mobile Money Service Provision: Recommendations for National Issues

2018 ◽  
Vol 7 (3.20) ◽  
pp. 304
Author(s):  
Azza Zeinelabdin Karrar ◽  
Azizah Abdul Rahman
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Multiple Perspectives ◽  
Mobile Money ◽  
It Service ◽  
International Remittances ◽  
Financial Exclusion ◽  
Value Propositions ◽  
Regulatory Bodies

Recently, the developing countries are considering the development of mobile money ecosystems that supports more inclusive financial systems to overcome the high financial exclusion of their population. Such ecosystems can be enabled by facilitating the collaboration between diverse stakeholders from different sectors: financial, telecommunication, regulatory bodies and IT service providers. This development of mobile money ecosystem emphasized on considering existing issues of main stakeholders’ and their conflicting interests. The aim of this paper is to discuss set of recommendations that can help in resolving national issues when participating in collaborative mobile money ecosystem. The research used the Sudanese national mobile money project as case study. The data collection method was qualitative interpretive interviews with different stakeholders in different sectors in Sudan. The researchers analyzed the collected data using qualitative data analysis approach. The results of the analysis focus on representing the multiple perspectives of stakeholders on each identified government’s issue. The research identified six national issues and the interrelation between these issues. The identified issues are: non utilized huge deposits, accountability of big transactions amount, strict customer registration procedures, unsatisfying batch processing, responsibility of customer management and monitoring international remittances. These findings contribute toward better understanding to the mobile money ecosystem in Sudan from government’s perspective. This understanding can facilitate building successful value propositions between mobile money stakeholders which can results in better financial services. 

scholarly journals The Development of Mobile Money and the Politics of Financial Inclusion in Tanzania

2019 ◽  
Vol 1 ◽  
pp. 25-42
Author(s):  
Deogratius Joseph Mhella
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Poverty Alleviation ◽  
Financial Inclusion ◽  
Significant Part ◽  
Mobile Money ◽  
The Poor ◽  
Financial Exclusion ◽  
Better Than

This paper analyses the development of mobile money in Tanzania and the politics of financial inclusion that enhanced it. Mobile money has played a significant part in reaching the financially unreached and excluded people overtaking banking and other financial services in Tanzania. There is no doubt that mobile money emerged at a time when financial exclusion was a major issue, and that the advent of mobile money was opposed by the banks who thought that it was entering the money business, and that the banks were in a better position to do money business better than any other institutions. For this reason, it is crucial to understand the development of mobile money and the politics of financial inclusion that allowed it to succeed. I have chosen the case study of Tanzania because not only that mobile money has thrived there, but also mobile money as we perceive it today was firstly invented by the e-Fulusi, a Tanzanian company, and failed before it was relaunched in Kenya by MPesa and succeeded. Moreover, the development of mobile money and the politics of financial inclusion have proven their importance in fighting financial exclusion and in increasing access to formal financial services for the poor, which is key to economic growth and poverty alleviation.

The Role of Mobile Money in Moderating Financial Exclusion: A Tanzanian Experience

2020 ◽  
Vol 2 ◽  
pp. 1-24 ◽  
Author(s):  
Deogratius Joseph Mhella
Keyword(s):  
Developing Countries ◽  
Financial Institutions ◽  
Banking Sector ◽  
Research Question ◽  
Microfinance Institutions ◽  
Mobile Money ◽  
Access To Credit ◽  
Financial Exclusion

Prior to the advent of mobile money, the banking sector in most of the developing countries excluded certain segments of the population. The excluded populations were deemed as a risk to the banking sector. The banking sector did not work with cash stripped and the financially disenfranchised people. Financial exclusion persisted to incredibly higher levels. Those excluded did not have: bank accounts, savings in financial institutions, access to credit, loan and insurance services. The advent of mobile money moderated the very factors of financial exclusion that the banks failed to resolve. This paper explains how mobile money moderates the factors of financial exclusion that the banks and microfinance institutions have always failed to moderate. The paper seeks to answer the following research question: 'How has mobile money moderated the factors of financial exclusion that other financial institutions failed to resolve between 1960 and 2008? Tanzania has been chosen as a case study to show how mobile has succeeded in moderating financial exclusion in the period after 2008.

scholarly journals The Utilization of Mobile Money Services in Small Scale Enterprises:A Case Study

2019 ◽  
Vol 4 (6) ◽  
Author(s):  
Suryakanthi Tangirala ◽  
Samuel Nlondiwa
Keyword(s):  
Mobile Phone ◽  
Service Providers ◽  
Small Scale ◽  
Small Enterprises ◽  
Mobile Money ◽  
Different Types ◽  
The Subject ◽  
Transactional Costs

Mobile money is an electronic wallet service that allows users to store, send and receive money using their mobile phone. This research is an effort to find out the adoption and utilization of mobile money services in small sized enterprises located in Gaborone, Botswana. Inevitably, other aspects such as different types of transactions carried out using mobile money services in small business, customer’s perception on quality of mobile money service providers, impeding factors of mobile money adoption are also studied for wider understanding of the subject. The findings of the study show that small enterprises use mobile money services to carryout transactions but the level of adoption is not significant. The study revealed that transactional costs and connectivity issues are major barriers of adoption of mobile money services. In conclusion the study recommended that the service providers must improve the connectivity issues and reduce transaction charges in order to increase the utilization of mobile money services

Mobile Financial Services

2020 ◽  
pp. 96-119
Author(s):  
Alexander Maina Kimari ◽  
Eric Blanco Niyitunga
Keyword(s):  
Financial Services ◽  
Developing World ◽  
Service Providers ◽  
Customer Experience ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Mobile Financial Services

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

scholarly journals Empirical Data on Mobile Money Hesitation Factors in Somalia

2020 ◽  
Vol 9 (3) ◽  
pp. 3719-3727
Keyword(s):  
Financial Services ◽  
Perceived Risk ◽  
Large Scale ◽  
Central Government ◽  
Service Providers ◽  
Electronic System ◽  
Full Scale ◽  
Financial Loss ◽  
Mobile Money ◽  
Money Transfer

Mobile money is an electronic system of transferring money from person to person. The mobile money service has expanded its coverage all over the world and there is hardly any country that do not practice any form of mobile money transfer. Somalia is one of the countries that embraced mobile money unconditionally as there is lack of traditional financial institutions providing financial services since the collapse of central government in 1991. Somalians accepted mobile money because it has made money transfer easier for them to pay bill and shopping. However, there are hesitation factors that hinder the full scale functioning of the system and makes people hesitate to use mobile money. Currently mobile money users practice very limited mobile money functions such as sending and receiving, withdrawal, top up and internet recharge. Other mobile money functions such as pay tuition fees, payrolls, payments for purchase t, utility payment and saving money into mobile money account are lagging behind. This empirical study explores the inconvenience factors that lead people to hesitate to use mobile money in a large scale. In this study, 650 survey questionnaire were distributed among mobile money users in Somalia. The questionnaires were distributed through online Google form. A total of 375 respondents submitted their responses and all the answers were recorded into SPSS. IBM-SPSS statistics 22 were used to statistically analyses the data. Factor analysis for data validity and scale analysis for data reliability, frequency and descriptive statistics were conducted to analyze the data. The study found that there are numerous mobile money hesitation factors that make Somalian people to hesitate fully practicing the system. These hesitation factors include perceived risk of financial loss, perceived risk of system error, perceived risk of authentication weaknesses, lack of regulation and policy and interoperability between the mobile money service providers. This study concludes that hesitation factors needs to be addressed that will improve the level of mobile money usage into full scale. Among factors that may reduce hesitation factors of the usage of mobile money services in Somalia are high level accuracy of mobile money authentication system, operative interoperability platform, highly effective compensation system and functioning mobile money regulations and policy.

A Stakeholder Analysis for Collaborative Mobile Money Service

2013 ◽  
Vol 64 (1) ◽  
Author(s):  
Azza Z. Karrar ◽  
Azizah Abdul Rahman
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Service Provision ◽  
Stakeholder Analysis ◽  
Financial System ◽  
Analysis Approach ◽  
Mobile Money ◽  
Face To Face ◽  
Regulatory Bodies

Mobile money is the use of mobile phone to access financial services by unbanked users who were not previously connected to formal financial system. Providing mobile money service requires collaboration between different stakeholders from different sectors: financial, telecommunication, regulatory bodies and retail agents. The aim of this study is to understand the different mobile money stakeholders’ interests in participating in mobile money ecosystem, their position from collaborative mobile money service provision policy, the different resources that they are willing to participate with and the possible collaboration alliances that they can formulate. Qualitative semi-structured face-to-face interviews were conducted to collect data from different stakeholders in different sectors in Sudan. The data was analyzed using stakeholders analysis approach and results of the analysis were presented using different diagrams that contributes toward better understanding to the mobile money ecosystem in Sudan.

Multiple perspectives on customer relationships

2014 ◽  
Vol 32 (6) ◽  
pp. 450-456 ◽  
Author(s):  
Kristina Heinonen
Keyword(s):  
Financial Services ◽  
Service Provision ◽  
Customer Value ◽  
Service Sector ◽  
Service Providers ◽  
Short Review ◽  
Financial Service ◽  
Customer Relationships ◽  
Multiple Perspectives ◽  
Content Type

Purpose – The purpose of this paper is to describe and conceptualize customer relationships in the financial service sector, focussing on three aspects of customer-bank relationships: the financial service provider perspective, the customer-provider dyad, and the customer context. Design/methodology/approach – Through a short review of the eight papers included in this special issue, this paper illustrates different aspects of customer relationships. It explores customer value formation in the context of banking services, the dynamics and strength of customer relationships, and strategies for financial service provision and consumer trust. Findings – Customer relationships in the financial service sector are increasingly dynamic and unpredictable. This may be due to both activities within the control of financial service providers, such as strategies for service provision, but is more often attributable to factors beyond the control of providers. What empowered customers are doing in their own settings influences their attitudes toward and evaluations of financial services. Research limitations/implications – The paper is conceptual. It challenges the firm-centric approach to customer relationships and compares different perspectives of customer relationships. The significance of the customer-centric perspective is emphasized. Practical implications – Awareness of uncontrollable and idiosyncratic aspects of customer relationships will offer financial service providers new opportunities for being present in the customers’ lives and business. Originality/value – This paper illustrates the importance of extending the focus from what financial service providers are doing to what customers are doing within their own domains. Financial service providers need to understand more about their customers than their perceptions of service quality, satisfaction, and loyalty in different distribution channels, such as internet and mobile banking. The focus should be instead on how customers integrate their financial activities and experiences in their own life or business.

Developing superior value propositions: a strategic marketing imperative

2014 ◽  
Vol 25 (2) ◽  
pp. 213-227 ◽  
Author(s):  
Adrian Payne ◽  
Pennie Frow
Keyword(s):  
Financial Services ◽  
Case Study Research ◽  
Value Proposition ◽  
Content Type ◽  
Study Research ◽  
First Case ◽  
Value Propositions ◽  
Business To Consumer ◽  
Industry Sectors

Purpose – Scholars identify the value proposition as representing the essence of strategy and the firm's single most important organizing principle. However, research suggests less than 10 per cent of companies formally develop value propositions. The purpose of this paper is to undertake case study research investigating the process by which leading companies develop their value propositions. Design/methodology/approach – The research identifies that the financial services and telecommunications vertical markets are viewed as the highly sophisticated industry sectors in terms of customer management. These industry sectors are selected for investigation. The paper develops case studies of two companies’ approaches to developing value propositions in the business-to-business (B2B) and business-to-consumer (B2C) sectors within these vertical markets. Findings – This paper contributes to the marketing literature by examining how two large and complex service enterprises have adopted structured processes for developing innovative value proposition within the B2B and B2C sectors. The authors argue that innovation in value proposition development represents a substantive opportunity for marketing to reassert its influence in the boardroom. Practical implications – This case study research provides guidelines of the processes by which enterprises can successfully develop innovative value propositions. Originality/value – This research is considered to be the first case-based academic exploration of the formal processes by which large organizations develop value propositions.

scholarly journals Measuring Financial Access

2020 ◽  
Vol 20 (08) ◽  
Author(s):  
Marco Espinosa-Vega ◽  
Kazuko Shirono ◽  
Hector Carcel Villanova ◽  
Esha Chhabra ◽  
Bidisha Das ◽  
...  
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Financial Service ◽  
Supply Side ◽  
Future Directions ◽  
Financial Access ◽  
10Th Anniversary ◽  
Mobile Money ◽  
Global Coverage ◽  
Disaggregated Data

This departmental paper marks the 10th anniversary of the IMF Financial Access Survey (FAS). It offers a retrospective of the FAS database, along with some reflections as to its future directions. Since its 2009 launch, the FAS has provided granular data on access to and use of financial services. It is a supply-side database with annual global coverage based on data sourced directly from financial service providers—aimed at supporting policymakers to target and evaluate financial inclusion policies. Its data collection has kept pace with financial innovation, such as the rise of mobile money and growing demand for gender-disaggregated data—and the FAS must continue to evolve.

scholarly journals Ethnicity and Financial Exclusion: How Fringe Banking has taken hold in Ethnic and Immigrant Neighborhoods

2011 ◽  
Vol 34 (1) ◽  
pp. 211-219 ◽  
Author(s):  
Marie-Christine Pauwels
Keyword(s):  
Interest Rates ◽  
Financial Services ◽  
Service Providers ◽  
Credit Union ◽  
Immigrant Communities ◽  
Banking Services ◽  
Fringe Banking ◽  
Financial Exclusion ◽  
Alternative Financial Services ◽  
Immigrant Neighborhoods

The latest FDIC survey (2012) on Americans excluded from regular banking services reported that between 8% and 20% of American households have either little or no relationship with a bank, savings institution, credit union, or other mainstream financial service providers. The only option for these customers, many of whom are ethnic minorities and immigrant communities, is to turn to AFS - Alternative Financial Services-the official name of fringe banking. Fringe banks like Ace Cash Express, EZLoans, or Mr. Payroll deliberately target the low- to moderate-income inner-city residents, often because these neighborhoods have become deserted by regular banks, making it difficult for these groups to apply for loans, credit cards, and mortgages. The American banking industry has indeed become polarized between banks in the top tier of the system who cater to the wealthier and less risky customers located in the affluent suburbs, and a market of second and third tier outlets, ranging from pawnshops and payday lenders to check-cashing outlets and cash-and-carry agencies. These outlets practice usurious interest rates and are booming today in the wake of the recent financial meltdown.

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