The industry seems to be betting on mobile banking as one of those must-catch customer waves. You have to wonder how profound the trend will be. Finextra notes that two major initiatives are underway that will bring mobile banking services to Africa and Latin America. The hope is that these efforts will find a way to bring much needed service to many outside the conventional banking system. MoneyBoxAfrica, which is run by three Nigerian companies led by a subsidiary of Stanbic IBTC Bank, has teamed with German vendor paybox for the pan-African system. Telefónica says it has partnered the Inter-American Development Bank to target 175 people in Latin America. There's a long road ahead for these projects, but we can only wish them well. It would be nice to think that technology can really make the difference.
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