If the Internet & Mobile World 2013 is on your agenda tomorrow, you should check out the Mobile & Apps Stage at 13:30. Our own Ioana Guiman will be there to talk about the power of online and mobility tools for the Banking & Financial Services Industry.
You read Banking & Financial and thought no…, this is going to be boring? I promise you it won’t as our case study introduces Generation Z and its banking for people.
Not paying somebody’s salary or pension on time, whether this happens due to an unexpected power failure or to poor operations, causes instant frustration to the under-banked person. This is a scenario that frequently happens in less developed or rural areas, where money if often delivered by means formed at the beginning of the 20th century and which, by design, allows errors and delays to occur.
The high cost and reliability of traditional distribution – a combination of trucks of money, post offices, and delivery personnel – can very easily be replaced by today’s technology and by using right kind of tools.
Our talk tomorrow will reveal a tool that centrally processes all financial transactions using industry standards, capable of creating an end-to-end e-corridor from the treasury of any financial institution, past the interbank low payments infrastructure and all the way to the ultimate receiver, who does not have to have a bank account. Financial inclusion is possible because of Gen Z technology.