Author Archives: Maya Barkay

Set Up Your Agent Banking Network in 5 Easy Steps

agentAgent banking – the new frontier According to CGAP and the World Bank, only about one-quarter of households in developing countries have any form of financial savings with formal banking institutions: 10 percent in Kenya, 20 percent in Macedonia, 25 percent in Mexico, 32 percent in Bangladesh. But access to finance institutions is more than being able to get the occasional loan. Access to financial services really involves being connected to a national payments system, much like the national electricity network. To allow many of these unbanked individuals to finally become financially included and be given universal access to a […]  More >>

Asia’s growing middle-class is becoming the key consumers of mobile-first economy

Keen to find out how you might be able to leverage 66% of the world’s growing middle class in Asia as they become the key consumers of the mobile-first economy?  Care to learn about how both the developed and emerging markets in Asia and other markets are embracing the convenience, simplicity and ubiquity of mobile in all facets of payments, commerce and finance? Hear from one of the pioneers of mobile money, our insightful keynote speaker, Vice President of Amdocs MFS, Justin Ho, as he discusses how an MFS solution can offer both the banked and unbanked a new type […]  More >>

Video blog: 5 misconceptions service providers have about MFS loyalty programs

We recently partnered with Ovum to measure the impact of loyalty programs linked to mobile financial services (MFS). Consumers and services providers were asked about MFS loyalty programs from their perspectives – the results were surprising. The survey clearly shows MFS providers are missing out- either by not offering a robust enough loyalty program or by not offering one at all. When it comes to specific loyalty program features or incentives, consumers are clear and explicit about what will drive them to use their mobile wallet more often. Yet, service providers are not capitalizing on that, and are either offering […]  More >>

Channeling 2017 – what does the MFS crystal ball predict?

trends crsytal ballIn 2016, we saw some creative MFS initiatives, such as chatbots for making digital payments, and payment rings. Looking ahead, 2017 promises to be even more exciting. Let’s have a look at some hot trends for the coming year. Banks are embracing BoT (Bank of Things) For the last few years, we have seen that banks have started offering their customers a multi-channel experience, providing mobile financial services such as mobile wallets and mobile banking including loans, credit lines and insurance. Improving integrated multichannel delivery will therefore be a main trend in 2017. To make the customer journey run as […]  More >>

Amdocs Helps Establish Global MFS Standards at United Nations

United Nations representative at DFS FGITU (originally known as the International Telegraph Union) is the United Nations specialized agency for information and communication technologies – ICTs. Founded on the principle of international cooperation between governments (Member States) and the private sector (Sector Members, Associates and Academia), ITU is the premier global forum through which parties work towards consensus on a wide range of issues affecting the future direction of the ICT industry. One of its most prominent and popular groups is the FG DFS – the focus group – in which our very own Sharath Dorbala was chosen to participate as an SME on the world of […]  More >>

Is the Financial Services Industry the Friend or Foe of MFS? (Hint: Think Bestie)

fintech bestieMobile financial services are gaining traction. According to the GSMA 2015 State of the Industry: Mobile Money report, mobile money is reaching more than 411 million people globally. Moreover, it is available in 85% of countries where the vast majority of the population lacks access to a formal financial institution. This in itself is good news for all stakeholders in the MFS ecosystem: banks, telcos, policy makers, technology partners and NGOs. FinTech is a main driver of MFS since it enables the convergence of financial services and telecommunications. Mobile operators and FinTech companies active in the financial services industry are […]  More >>

The 5 Main MFS Game Changers in Africa

Africa MFSThe impact of mobile financial services in Africa extends far beyond financial; it also has a positive socio-economic ripple effect. Particularly in African countries, digital money enables individuals and institutions to transfer funds instantly and securely without the need for a middleman. It also drives international commerce, supports financial inclusion, and changes the way people shop, handle savings and conduct business. Here are five permanent ways that mobile financial services are shaping and changing life in Africa. Building a bright new financial future for Africa’s unbanked Mobile money offers the underbanked and unbanked access to financial services that were previously […]  More >>

B2B2C and Banking-as-a-Platform – Finding the New Frontier for CSPs and Retailers

B2B2CWith the year-over-year increase in active mobile money accounts and the monthly value of total mobile money transactions in developing markets reaching US $19 billion at the end of 2015, one would expect this would translate into a thriving ecosystem of use cases and accelerated digitization. Yet this is not happening. Today, the retailer ecosystem is a closed top-down system with nearly 60% of transactions being cash-in and cash-out (CICO) and funds being transferred between the depositing and withdrawing parties (P2P).  This means that although MFS is evolving, it is not expanding, since the use cases remain the same. However, […]  More >>

Amdocs’ MFS Solution Takes First Prize in the Prestigious Tele.Síntese 2016 Award Ceremony

On September 26, Amdocs won first place in the Prêmio Tele.Síntese 2016, the prestigious Annual Innovation Award ceremony organized by Tele.Síntese. During the ceremony, which was attended by entrepreneurs, policy makers and opinion leaders in the industry, 20 winners were honored in 6 categories: service communication service providers, regional operators, providers of software and services, product providers, apps and content developers, and national technology. Amdocs won first prize in the category suppliers of software and services. Edson Paiva, VP Sales CALA at Amdocs, accepted the award from journalist Miriam Aquino, Director of Momento Editorial. (Momento Editorial is the owner of […]  More >>

2017 Trends: The Synthesis of Mobile and Digital Technology

According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016, as advances in digital technology fuel the rise in the number of people using their phones to pay for goods and services at the point of sale. These advances are altering the way business is done around the globe, and are making it crucial for mobile payment providers to not only track, but also adapt to what’s trending within mobile and digital technology. Here are three particular digital trends set to transform mobile financial services […]  More >>