But a bad registration and onboarding process simply blocks it if:
- You don’t map your clients, you’re not compliant.
- You’re not compliant you’re not allowed to operate in the market.
- You're not compliant and you operate in the market, you can receive extremely high fines and penalties from the regulator.
- You don’t have a good KYC (Know-Your-Customer) process, you are also very limited in terms of the transaction model and miss upgrade and upsell opportunities.
What do you need to take full advantage of mobile money? Download our latest eBook and discover Mobile Money: How customer onboarding can help you maximize service delivery to millions of unbanked.
The
facts
According to the World Bank, approximately 2.5 billion people
worldwide do not have a formal account at a financial institution. Access to
affordable financial services is linked to overcoming poverty, reducing income
disparities, and increasing economic growth. The World Bank’s Global
Findex database found that 3/4 of the world’s poor are considered unbanked,
meaning that they do not have a bank account. This is a staggering number that
includes 59% of adults in developing economies, 77% of adults earning less than
$2 a day, as well as 11% in high-income economies.
The Global Findex reveals that 16% of adults in Sub-Saharan Africa have used a mobile phone to pay bills and send or receive money in the past 12 months. It also shows that mobile platforms can help historically unbanked regions gain financial access, as 1/3 of adults state that the cost of opening and maintaining a bank account is too high, and that bank agencies are just too far away. Actions must, and are, being taken to address this situation, ensuring a global effort for financial inclusion, thus creating a world of opportunities.
The Global Findex reveals that 16% of adults in Sub-Saharan Africa have used a mobile phone to pay bills and send or receive money in the past 12 months. It also shows that mobile platforms can help historically unbanked regions gain financial access, as 1/3 of adults state that the cost of opening and maintaining a bank account is too high, and that bank agencies are just too far away. Actions must, and are, being taken to address this situation, ensuring a global effort for financial inclusion, thus creating a world of opportunities.
eBook target audience
This eBook looks to support MNOs (Mobile Network Operators), mobile money service providers and banks operating in unbanked regions or wanting to
enter this market to deliver an expanded service offering. These providers and banks are looking for answers to the main issues regarding mobile money, while guaranteeing top level compliance with existing
regulations. Without such knowledge of compliance and other regulations, MNOs, mobile money service providers and banks will not only find it challenging to acquire new
customers respecting compliance, but also find it a nightmare to
upgrade or upsell to existing customers. In effect, not taking advantage of the
environment's full potential.
Count on Papersoft to support your mobile journey towards a paper-free,
legally compliant and high-revenue company.
About Papersoft
Papersoft is a 15 year old company that has been developing its
activity on document management processes including capture, mailroom and
scanning, extraction and automation, digital and physical archive.
They are currently investing in developing new market solutions focused on streamlining document management processes, providing an automate and secure environment and giving clients control over their information assets and added value to their businesses.
Papersoft has currently more than 300 employees working in several countries and has already established business in Portugal, UK, Romania and Democratic Republic of Congo.
Their mission is to help their clients organising, preserving and adding value to their information assets while enriching and streamlining their business processes and decision making, giving them a true and sustainable competitive advantage. Their vision is to become a reference enterprise in documents and information management field, a trustful, flexible, open and knowing partner, with innovative and secure solutions, capable of adding value and reducing the risk for our clients’ businesses.
They are currently investing in developing new market solutions focused on streamlining document management processes, providing an automate and secure environment and giving clients control over their information assets and added value to their businesses.
Papersoft has currently more than 300 employees working in several countries and has already established business in Portugal, UK, Romania and Democratic Republic of Congo.
Their mission is to help their clients organising, preserving and adding value to their information assets while enriching and streamlining their business processes and decision making, giving them a true and sustainable competitive advantage. Their vision is to become a reference enterprise in documents and information management field, a trustful, flexible, open and knowing partner, with innovative and secure solutions, capable of adding value and reducing the risk for our clients’ businesses.
Papersoft is a silver sponsor at this year's East Africa Com, from the 18 -19 May at the Radisson Blu, Nairobi. Visit them at stand 6.
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