IFC, a member of the World Bank Group, and The MasterCard Foundation yesterday launched a handbook on Alternative Delivery Channels and Technology.
The handbook, produced in collaboration with Software Group, aims to help financial institutions successfully implement alternative delivery channel projects in order to further financial inclusion.
Greta Bull, manager, Financial Institutions Group Advisory in Sub-Saharan Africa, Latin America and the Caribbean, said, “We have seen many of our clients struggle with implementing technology projects and produced this handbook for the benefit of other businesses considering employing alternative delivery channels to reach underserved markets. We hope this handbook will help facilitate the expansion of financial inclusion in Sub-Saharan Africa and elsewhere.”
Alternative delivery channels, such as mobile and agency banking, offer increasing opportunities for financial services providers to expand beyond the traditional bank branch channel and to further financial inclusion. The handbook provides a set-by-step, practical guide to building alternative delivery channels that links technology choices with the overall business process.
Ann Miles, director of Programs, Economic Opportunities for Youth & Financial Inclusion, The MasterCard Foundation, said: “The world of alternative delivery channels for financial service providers, with the wide range of technology platforms and device options, can be daunting. This is true particularly for those with limited technical capacity working in developing countries. We believe that this guidebook is an invaluable resource, which will help guide them in making the best decisions for their clients and their organizations.”
The handbook is a knowledge product of the Partnership for Financial Inclusion, a joint $37.4 million initiative by IFC and The MasterCard Foundation that aims to scale up commercial microfinance and develop mobile financial services to increase financial inclusion in Sub-Saharan Africa.