MOMBASA
The financial systems of developing nations are characterised by weak infrastructure and profound inequity between the few with access to remedial technology and the many without any alternative to physical cash as a medium of exchange.
The way forward from this state of affairs, as many have recognised, is mobile banking. Banks and other financial institutions who do business in these parts of the world are however quick to realise that the vast majority of mobile banking solutions offered by technology vendors rarely address the core issue of limited infrastructure. They may be capable of enhancing the versatility of conventional paper-based or electronic bank accounts for the privileged minority, but they seldom represent a transformative novel approach to delivering financial services in low-resource contexts to service the intense demand for financial connectivity from the teeming majority.
The patent-pending MOMBASA platform was designed with the objective of making mobile banking genuinely groundbreaking in a social sense in the way that it broadens access to financial connectivity for the previously underserved and opens new possibilities of customer satisfaction to those already enjoying the benefits of financial services.
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