I am so excited about technology and how it changes lives. Mobile technology is one area that is helping to affect people in a very positive way; here are a few stories and links.
How Kenya is using Mobile technology to bank
Bangladesh’s “Phone Ladies”
One example of this sort of self-sustaining “teach a man to fish” success story is seen in the case of the “phone ladies” in Bangladesh. These women have taken advantage of the “microfinance industry” which lends a small amount of money to a person in the third world for the purpose of developing a business. The phone ladies all used their money to purchase phone kits through a company called Grameen Bank. They used the phone kits to provide phone services to people in their communities who didn’t have access to their own phones, charging a small fee in order to turn a profit. It may sound like just a small business but it’s something that has employed a quarter of a million people in Bangladesh and turned Grameen Bank into a business that sees $1 billion of annual revenue. Moreover, those phones can then be used by other business people to better their own work situations in the country.
The Commercialization of Microfinance: The Good, The Bad and The Ugly
Trends in mobile banking
And an on-line banking technology publication article on Mobile Banking , a good reference point.