In an effort to prevent fraud and keep customers informed, Satelite Microfinance Bank, a microfinance institution in Nigeria, has recently started using the Clickatell text-message alert system to notify customers when debit or credit activity is occurring on their accounts.
Clickatell’s CEO, Pieter de Villiers, cited the adaptation of his SMS alert system as an example that “emerging markets are showing a tremendous ability to leap-frog developed markets in terms of technology adoption” [1].
About Satelite Microfinance Bank
Authorized to engage in microfinance activities by the Central Bank of Nigeria in 2007, Satelite Microfinance Bank operates eight branches and also offers account access via automated teller machines and mobile phones. Satelite Microfinance Bank offers its customers retail and small business savings services, loans, and credit facilities. Satelite Microfinance Bank does not report its microfinance data to the Microfinance Information Exchange (MIX).
By Eric McKay, Research Assistant
Bibliography
[1] Clickatell Press Release, February 17, 2010, http://www.clickatell.com/press/press_article.php/158
Additional Links
MicroCapital Universe: Satelite Microfinance Bank: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Satelite+Microfinance+Bank
Similar Posts:
- MICROCAPITAL BRIEF: Moniepoint Microfinance Bank Launches Mobile Banking App, Debit Card in Nigeria
- MICROCAPITAL BRIEF: Axis Launches axisPay Mobile Money App for Small Businesses in Egypt
- MICROCAPITAL BRIEF: Al Tadamun Circulating Mobile Branches to Boost Microfinance for Women in Egypt
- MICROCAPITAL BRIEF: Buying Maritime Microfinance, Fintech Lender Payhippo Gains Deposit License, Access to Nigeria Inter-Bank Settlement System
- MICROCAPITAL BRIEF: Purpl Launches Remittances, Digital Wallets in Lebanon; Partners with Banque Libano-Française, Paysend