Lagos, Nigeria: Clickatell, global leader in high value messaging, is
providing in-country SMS alert services to Satellite Microfinance Bank
in collaboration with Neptune Software Plc. Satellite’s customers now
receive real-time, priority alert messaging via Clickatell’s Secure
Enterprise Mobile Messaging Gateway, notifying them when transactions
are taking place on their credit and debit accounts.

"Microfinance has fast become an important part of financial services
as institutions serve previously under or un-served. Providing reach,
connectivity and ubiquity, mobility is standing at the center of this
high growth sector as the next billion consumers begin to receive a
whole new breed of financial services," says Pieter de Villiers,
Clickatell CEO. "Emerging markets are showing a tremendous ability to
leap-frog developed markets in terms of technology adoption and
regulatory reform. In fact, there are three times more mobile payment
and mobile banking initiatives in emerging markets than in developed
markets."

Experts estimate that 20-30 billion dollars are currently on loan to
more than 50 million microfinance borrowers around the globe.
Moreover, approximately 70% of the Nigerian population is un- or
under-banked, an exploding demographic to take advantage of
microfinance services.

Microfinance refers to financial services provided to low-income
people, usually to help support self-employment. Examples of
microfinance products include: small loans, savings plans, insurance,
payment transfer, SMS alerts and other services that are provided in
small increments that low-income individuals can afford. These
services help families start and build "micro" enterprises, the very
small businesses that are important sources of employment, income, and
economic vitality in developing countries worldwide.

Because salaried or wage-paying jobs are scarce in many developing
countries, most citizens earn their livings through self-employment,
creating and operating their own small enterprises. However, without
financial options to fuel productivity, they cannot grow their
businesses to help escape poverty. The microfinance movement was born
to ease the suffering caused by poverty, and to awaken the
under-capitalized productivity of the world's working poor.

"Utilizing the ubiquity of mobile phones in our country, we’ve been
able to create a cost effective and reliable direct line of
communication between us and our customers ensuring far more
personalised and cost effective banking service," says Nnamdi Chizea,
Divisional Head, Operations & Treasury Management for Satellite MFB.
"Satellite MFB is proud to have the backing of global players,
Clickatell and Neptune Software, as we lead Africa's charge to provide
much needed access to financial services to the continent."

Satellite MFB currently has operations in eight locations across
Nigeria, an expansive ATM infrastructure, and inter-connected
branches, offering on-line real time transaction processing, made
possible by the investments made in advanced technology and mobile
financial services. In addition to offering retail and small business
savings, loan and credit facilities Satellite MFB is also a Western
Union money transfer agent.

 

 

 

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