VERTICALSEnabling banks, telecoms, and MFs to better serve the under-banked
In the developing world, a person’s cell phone (SIM card) is increasingly becoming an important form of identity, but it can also be his/her only channel to financial services. It is one thing for a telco to provide mobile payment capabilities, but it is an entirely different situation when that telco, either on its own or through partnering with micro banks, credit factoring agencies, or other financial innovators, can create financial services that provide their customers with a true pathway to economic independence. VBN has the track record of enabling cell phone companies to work with loan origination agencies, micro banks, and even innovative retailers to deliver financial services to the customers as never before.
Providers with partial solutions looking to reach new customers in new ways should take a close look at VBN platform. VBN components are optimized for any currency or language and can easily integrate with existing systems. Providers can add new functionality in a very fast rollout. Opportunities for financial innovation can be found everywhere these days: From CRM solution partners moving from ERP applications into payment processing to smart phone app developers looking to go beyond mobile payments to offer extended account processing (consumer loans, savings, and similar products and services). Branchless banking is the new standard in places where the only infrastructure for miles around is a cell tower. No matter the need, the currency, the delivery method, or the integration method, VBN’ proven components will help to realize innovators plans.
At VBN, we believe that social finance, is key to enabling positive change in society. Corporate Social Responsibility (CSR) programs can deliver innovative social finance solutions to emerging regions and help them to grow. Promoting financial inclusion through technology will make developers, designers and innovators to work together to find innovative solutions and promote greater financial inclusion. CSR programs can help the growth of macro and micro networks looking at FinTech as powerful way to solve social issues through technology.
CSR programs by partnering with VBN can have a profound impact on underserved customer segments by reducing cost structures through technology and redesigning social business models.