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Calling all Clients: How Mobile Phones are Driving Financial Inclusion

By Lydia Baldridge Meier

On the fourth day of Christmas, my true love gave to me...Four Calling Birds

Stella, MalawiStella, Malawi
Joseph, MalawiJoseph, Malawi
Felistus, KenyaFelistus, Kenya
Cashpor client, IndiaCashpor client in India

Today, we know that a mobile phone is used for much more than calling. It’s the world in your hands. And for Opportunity clients who are able to bank via their mobile phones, it really does open up the world. Mobile phone banking saves clients time, money and increases their awareness of their financial position. It also enables banks to bring financial tools to exponentially more people, especially in remote rural areas.

Chart of the benefits of mobile banking

The phone, which used to be just a “calling” tool, is now a link to the global world. Opportunity’s partner MicroEnsure has enrolled millions of customers in Africa and Asia in life insurance in partnership with mobile network operators. Just this week they announced that their work with Telenor in India subscribed more than 10 million in the first two weeks of offering.

Opportunity’s 2020 goal of reaching 100 million lives by supporting 20 million jobs will truly make an impact on the poorest, most marginalized communities in a way that is sustainable, empowering and forward-looking. And it will only be possible with the help of mobile banking.

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