January 2011
4 posts
9 tags
AML / KYC Regulation in Practice
Anti-money laundering (AML) and know your customer (KYC) regulations are often front and center in mobile money conferences and publications. But what do they amount to in practice? How difficult is it for customers, and therefore electronic transactions, to slip through the cracks? No one answer addresses the various reasons for non-compliance, but failure is usually due to breakdown in or...
Mobile Money in the Back-Office
Last week we asked “Is it better for borrowers to eat the transaction costs or microfinance institutions to eat the back-office costs [of mobile money]?” and indicated that we favor the latter. Instead of explaining our own reasoning, we figure financial institutions put it best. For instance,
Kevin Kihara of Family Bank cites “attractive unit economics and meaningful corporate cost savings” as...
Who eats the costs of mobile financial services?
Mobile money is changing the way microfinance institutions do business. For the institution, mobile money is more efficient, safe, and transparent than cash. For the customer, mobile money offers “unrivaled convenience” and lowers the effective interest rate of credit by reducing time and transport costs associated with repayment. Customers still face significant transaction costs, however,...
10 tags
Starting a Social Enterprise in Kenya
Thinking about starting a social enterprise in Kenya? First, now is definitely the right time to move: Kenya is quickly becoming a global hotspot for technology innovation and there’s no shortage of market failures / opportunities. Second, Kenya is the gateway to the region: if your target is the East African Community, Nairobi is “the natural choice” for your headquarters. ...