FrontlineSMSat7: Mobile Money Made Easy And Accessible

Sila Kisoso | FrontlineSMS | November 20, 2012

In the sixth of our seven blog posts celebrating the month that FrontlineSMS turns 7, Enock Musyoka, our FrontlineSMS: Credit Project Assistant, shares the impact FrontlineSMS:Credit’s PaymentView has on Nunguni Financial Service Association and its members. The power of owning a mobile phone is beyond SMS messages; PaymentView makes it easier to manage payment plans.

The adoption and growth of mobile money in Kenya has created an enormous opportunity to greatly improve the lives of those without access to financial services. More than one billion people have access to a mobile phone, but do not have a formal bank account. Historically financial institutions have been unable to reach low-income customers adequately, especially in remote areas, given the cost of bricks -and-motor branches. Working at FrontlineSMS, however, has given me an opportunity to support and learn from a variety of organizations as they begin to use and experiment with mobile money to increase access to everything from savings accounts to education.

Nunguni Financial Service Association (FSA) is one of those projects that I deem to be a success. This is a member-owned financial institution that provides a range of savings and credit products, including group and individual savings programs, as well as long-term and short-term loans. Nunguni FSA’s goal is to enable its members to repay loans via mobile money so that the FSA more efficiently receives group loan repayments and clients can repay with greater convenience...