Key Focus Areas Technology
More than 2.5 billion people worldwide lack access to banking services. Most live in rural areas with high poverty rates where it is difficult and expensive to set up financial infrastructure. Additional barriers to financial services include high costs to users, having to travel long distances to banks and the extensive paperwork required to set up an account. Opportunity International uses innovative technologies, such as mobile-phone banking, to reduce costs and conveniently link clients to financial services - regardless of where they live.
Challenges and Solutions
The Challenge: Limited Banking Opportunities - households in developing countries often lack access to financial services that are critical to breaking the cycle of poverty
Opportunity's Solution: Innovative Banking Channels - providing cost-effective and easy-to-use banking services in remote areas, including mobile-phone banking, ATMs, vans, point-of-sale devices and satellite branches
The Challenge: Substantial Costs of Banking - many banks exclude low-income people due to the high operating costs of using traditional services in the poorest regions
Opportunity's Solution: Versatile Banking Software - utilizing sophisticated banking platforms across our global network to increase efficiencies and reduce costs
The Challenge: High Risks of Rural Banking - financial institutions often ignore the poorest rural and agricultural areas due to limited information about local households
Opportunity's Solution: Data Capturing Technology - making better, more informed lending decisions with the help of digital, field-based data collection
Many people now have access to financial services for the first time in their lives. Introducing our mobile-phone programs in additional countries will give even more rural clients access to services so they can expand businesses, keep their funds secure and earn income on savings. Our innovative banking technologies also improve and expand our services to reach more clients at a lower cost. We are helping millions of people break the cycle of poverty, transform their lives and strengthen their families and communities.