- Governments, industry can make choices to increase financial inclusion in the next decade
The growing use of branchless banking, including mobile phone banking, is inevitable in most countries. But it's far less certain whether large numbers of the unbanked poor will use these alternative channels for financial services beyond payments, such as savings and credit. So says "Scenarios for Branchless Banking in 2020," a new report from CGAP, a microfinance group based at the World Bank, and the U.K.'s Department for International Development (DFID).UK Minister for Trade and Development Gareth Thomas today said:
"The fact that many of the 2.7 billion people who currently don't use a bank will have access to branchless banking methods such as mobile phones and the internet by 2020 is a huge step towards financial inclusion for people in developing countries.
"The poor are kept in poverty when they are financially excluded. This means they lack safe places to save money, the opportunity to invest in their future and cannot reduce the risk of their savings being lost in natural disasters.
"As this report shows, governments and the private sector both have a huge role to play in ensuring investment is made to deliver technology-based financial services to billions of poor people."
The report sets out four scenarios on the future of branchless banking. In all four scenarios, the adoption and use of branchless banking services is forecast to be higher in 2020 than it is today. But in two of the scenarios, bursts of rapid acceleration are followed by periods of falloff or flatter growth.
"Mobile banking pioneers give us hope that millions of poor people, especially those living in rural areas, finally might be served by the banking system. That said, new business models and partnerships that provide
the right incentives to banks and banking agents are vital if we are to move beyond simple payments and transfers to being able to offer other basic banking services, especially savings, that poor people need and want," said Elizabeth Littlefield, CEO of CGAP.
The report is the product of a six month scenario-building project that engaged nearly 200 leaders from the fields of technology and finance from more than 30 countries.
Snapshot of Branchless Banking Today
- Financial inclusion is growing in most countries. This is often as a result of the expansion of conventional banking channels, such as branches and automated teller machines (ATMs);
- Bricks-and-mortar growth is inherently limited by its cost.
Branchless banking presents a cheaper option but has only modest reach To date in most countries;
- Where branchless banking is occurring, several of the following factors are usually at work: (i) industry belief in future profitability; (ii) enabling regulatory change; (iii) a dramatic fall in connectivity costs; (iv) the creation of cash-handling agents using existing networks; and,
- Current hype about the potential of branchless banking is running ahead of reality. Massive sustained success in reaching the poor requires more accurate insights on poor people's financial needs and adoption behaviour. This is only now starting to become available.
Four Forces Shaping Branchless Banking for 2020
- Demographic changes -- including a greater number of younger consumers coming into the market and greater mobility at least within countries -- will be favourable for the adoption of branchless banking;
- Activist governments will play a greater role as regulators of the financial sector, providers of social safety nets, and providers or encouragers of the rollout of low-cost bank accounts and financial infrastructure. This expanded role may be helpful for financial inclusion;
- While security concerns about cash crime will continue to drive the adoption of electronic transaction channels, the rise of electronic crime will affect consumer confidence and test the risk management of
financial providers; and,
- Internet browsing via mobile phones will reduce costs of financial transactions and enable new players to offer financial services.
CGAP and GSMA researchers have found that across Africa, Latin America and Asia, the number of people who do not have a bank account but do have a mobile phone is set to grow from 1 billion today to 1.7 billion by 2012. These "unbanked mobiled" individuals represent a compelling market opportunity for service providers.
Notes to Editors
The report will be released today at DFID in London. There will a live webcast on the CGAP Technology Blog from Washington D.C. on Dec. 1. Learn more at http://technology.cgap.org.
The CGAP Technology Program is supported by the Bill & Melinda Gates Foundation.
CGAP is an independent policy and research centre dedicated to advancing financial access for the world's poor. It is supported by over 30 development agencies and private foundations who share a common mission to alleviate poverty. Housed at the World Bank, CGAP provides market intelligence, promotes standards, develops innovative solutions and offers advisory services to governments, microfinance providers, donors, and investors. More at http://www.cgap.org.
The Department for International Development is the UK Government's department that manages Britain's aid to poor countries and works to get rid of extreme poverty. You can find out more at www.dfid.gov.uk/ .
DFID recently launched a Facilitating Access to Financial Services through Technology (FAST) project to support the introduction of "branchless banking" to mass-markets in developing countries, such as Kenya, Tanzania, Pakistan, Nigeria, India, Bangladesh and Ghana. Pilot projects will be evaluated by teams of finance and technology experts and where appropriate help and promote increases in scale or spread to different countries.
Saturday, November 21, 2009
Trolley Manufacturer Among First Companies Raided for Software Piracy in Police Initiative for Creative Economy
Police officers this week intensified their efforts to reduce software piracy with a series of raids of companies accused of using unlicensed software. Police officers commented that this effort aligns with the “Creative Economy” strategy currently being promoted by the Thai government.
In the first raid of this new enforcement effort, a Chonburi-based manufacturer of airport trolleys, shopping carts, pallets and other metal products was found using unlicensed design software in the operation of their business. The software is valued at 1.2 million baht. The company’s registered assets are more than 50 million baht.
Also in Chonburi, an engineering firm that is part of a global corporation, was allegedly found with unlicensed design software valued at 290,000 baht. This company’s assets are registered at more than 200 million baht.
Members of the Economic and Cyber Crime Division (ECD) are geared up for additional raids of companies for which there is evidence of software piracy. Raids are scheduled almost daily, and should extend through the end of the year.
“Over the last month we have reviewed 1,000 investigations in which various business organizations are accused of software piracy, and now we are conducting raids against many of these companies,” said Police Colonel Sarayuth Pooltanya. “Monday was the beginning of what we see as an intense period of enforcing intellectual property rights.”
Commenting on the cases, Thai police officials say they will continue to track down violators of the Thai Copyright Act B.E. 2537 with diligence—no matter the size of the alleged infraction.
“Any business organization that uses unlicensed software is at risk of being raided for violation of the Thai Copyright Act B.E. 2537,” said Pooltanya. “The only way we can reduce Thailand’s software piracy rate is by diligently following up on complaints and taking enforcement actions against those companies who are violating the Thai Copyright Act B.E. 2537. We are confident that by aiming to reduce software piracy we can make a positive contribution to the progression of Thailand’s Creative Economy strategy.”
The ECD has made a significant impact in reducing Thailand’s software piracy rate of 76 percent. In each of the last two years, Thailand’s software piracy rate has fallen by two percent annually, a significant drop when compared to the reductions achieved in other countries during the same span of time.
Those who report the use of unlicensed software by calling 02-714-1010 or by reporting it on line are eligible to receive an award of up to 250,000 Thai Baht. The identity of the caller is protected. More information is available online at www.stop.in.th.
In the first raid of this new enforcement effort, a Chonburi-based manufacturer of airport trolleys, shopping carts, pallets and other metal products was found using unlicensed design software in the operation of their business. The software is valued at 1.2 million baht. The company’s registered assets are more than 50 million baht.
Also in Chonburi, an engineering firm that is part of a global corporation, was allegedly found with unlicensed design software valued at 290,000 baht. This company’s assets are registered at more than 200 million baht.
Members of the Economic and Cyber Crime Division (ECD) are geared up for additional raids of companies for which there is evidence of software piracy. Raids are scheduled almost daily, and should extend through the end of the year.
“Over the last month we have reviewed 1,000 investigations in which various business organizations are accused of software piracy, and now we are conducting raids against many of these companies,” said Police Colonel Sarayuth Pooltanya. “Monday was the beginning of what we see as an intense period of enforcing intellectual property rights.”
Commenting on the cases, Thai police officials say they will continue to track down violators of the Thai Copyright Act B.E. 2537 with diligence—no matter the size of the alleged infraction.
“Any business organization that uses unlicensed software is at risk of being raided for violation of the Thai Copyright Act B.E. 2537,” said Pooltanya. “The only way we can reduce Thailand’s software piracy rate is by diligently following up on complaints and taking enforcement actions against those companies who are violating the Thai Copyright Act B.E. 2537. We are confident that by aiming to reduce software piracy we can make a positive contribution to the progression of Thailand’s Creative Economy strategy.”
The ECD has made a significant impact in reducing Thailand’s software piracy rate of 76 percent. In each of the last two years, Thailand’s software piracy rate has fallen by two percent annually, a significant drop when compared to the reductions achieved in other countries during the same span of time.
Those who report the use of unlicensed software by calling 02-714-1010 or by reporting it on line are eligible to receive an award of up to 250,000 Thai Baht. The identity of the caller is protected. More information is available online at www.stop.in.th.
Thursday, November 12, 2009
MADOFF'S JEWELLERY, FINERY TO BE AUCTIONED
the trappings of Bernard Madoff's once luxurious lifestyle - jewels, furs and expensive trinkets - will be auctioned on Saturday in New York to benefit victims of Wall Street swindler.
The catalogue contains almost 200 lots reflecting the gaudy life enjoyed by Madoff and his wife Ruth as a result of his decades-long, multibillion dollar Ponzi scheme.
That includes no less than 17 Rolex watches, diamonds, fur coats, Hermes and Louis Vuitton handbags, crocodile-skin belts, golf clubs and numerous items of jewellery.
On a more personal note, there will be a blue satin Mets baseball team jacket emblazoned with "Madoff" on the back. Estimated price: $500-$720 (Bt16,650-Bt24,000).
The Madoff name appears on many other goods, ranging from beach boards to personal stationary.
Gaston and Sheehan auctioneers are handling the sale at a Sheraton hotel in New York, but the goods were seized by the US Marshals Service to raise compensation for hundreds of investors cheated by Madoff.
Pre-auction estimates by Gaston and Sheehan predict sales of about $500,000.
Properties, including a Manhattan penthouse and Palm Beach retreat, have also been seized. A Long Island beach getaway sold for $8 million.
Madoff, now serving a 150-year prison sentence for fraud, claimed just before his arrest last December to have been managing $65 million. However, much of that appears to have comprised fraudulent funds.
The court-appointed liquidator says that investors lost $21.2 billion cash.
The catalogue contains almost 200 lots reflecting the gaudy life enjoyed by Madoff and his wife Ruth as a result of his decades-long, multibillion dollar Ponzi scheme.
That includes no less than 17 Rolex watches, diamonds, fur coats, Hermes and Louis Vuitton handbags, crocodile-skin belts, golf clubs and numerous items of jewellery.
On a more personal note, there will be a blue satin Mets baseball team jacket emblazoned with "Madoff" on the back. Estimated price: $500-$720 (Bt16,650-Bt24,000).
The Madoff name appears on many other goods, ranging from beach boards to personal stationary.
Gaston and Sheehan auctioneers are handling the sale at a Sheraton hotel in New York, but the goods were seized by the US Marshals Service to raise compensation for hundreds of investors cheated by Madoff.
Pre-auction estimates by Gaston and Sheehan predict sales of about $500,000.
Properties, including a Manhattan penthouse and Palm Beach retreat, have also been seized. A Long Island beach getaway sold for $8 million.
Madoff, now serving a 150-year prison sentence for fraud, claimed just before his arrest last December to have been managing $65 million. However, much of that appears to have comprised fraudulent funds.
The court-appointed liquidator says that investors lost $21.2 billion cash.
Varsity lecture held on "ya ba" charge
A computer-engineering lecturer at a university was arrested in a sting operation and found with 40 ya ba tablets in Chiang Mai's Hang Dong district, police said yesterday. Provincial Police Region 5's Drug Suppression Unit arrested Sutthichat Pattarakul, 31, on the charge of possessing ya ba for use and sale to youngsters. The sting operation was launched after acquiring convincing information of his alleged drug dealing, police said. An undercover officer set up an appointment to buy ya ba from Suchrat yesterday at 1am. When he showed up to deliver the drugs, police arrested him.
Suchart reportedly told police that he took ya ba to relax and to stay awake late every night to repair computers as a side job, said Pol Lt-Colonel Manit Janthanupongsa of Hang Dong precinct. Suchart told police that he sold ya ba to his younger acquaintances only occasionally.
Suchart reportedly told police that he took ya ba to relax and to stay awake late every night to repair computers as a side job, said Pol Lt-Colonel Manit Janthanupongsa of Hang Dong precinct. Suchart told police that he sold ya ba to his younger acquaintances only occasionally.
Magnificent seven
In the most important, most revered event since the invention of the brontosaurus trap,Microsoft shipped the most incredibly fabulous operating system ever made; the release of Windows 7 also spurred a new generation of personal computers of all sizes at prices well below last month's offers.The top reason Windows 7 does not suck: There is no registered website called Windows7Sucks.com
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
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