New Delhi, Aug 27 (UNI) HDFC Bank today said it has appointed Sanjeev Patel as the Executive

Vice President and Head Direct Banking Channels. 

Mr Patel will be responsible for driving the phone banking, ATM, netbanking and mobile banking
channels, the Bank said in a statement.

With over 13 years experience in banking, mainly in product and marketing roles, Mr Patel was
earlier the Deputy Head of Marketing at HSBC, India.

He had also been the head of the Credit and Debit Card product, portfolio and marketing
management function for HSBC India. 

Prior to this, he has worked for ANZ Grindlays, in various credit card planning, product,
marketing and strategic initiative roles

Branchless banking – Wikipedia

For the unbanked, is mobile money cheap enough?

CGAP releases pricing study across 16 providers in 10
countries
by Jim Rosenberg: Monday, May 24, 2010

What does mobile money cost for the unbanked and underbanked? CGAP releases pricing study across 16 providers in 10 countries

My colleagues Claudia McKay and Mark Pickens have pulled together acomprehensive global pricing
study on banking services targeting poor, unbanked and underbanked people in Africa, Asia and
Brazil (pdf). The study examines pricing for services targeting unbanked and underbanked poor
people in 10 countries.

The conclusion: mobile banking and other forms of branchless banking are cheaper than traditional
banking, but the gap between the two may not be as wide as some may think.

On average, branchless banking is 19% cheaper than banks. Why isn’t the pricing gap wider? Mobile
money providers might be keeping profits for themselves and not passing them on in lower costs.
There could be a good reason.
It is possible that establishing a successful, scaled branchless banking service could be more
expensive than expected. Some branchless banking providers want to leave room to come down on
prices as more competitors enter the market.

Other highlights:

o The lower the transaction value, the cheaper branchless banking is in comparison with
banks. For example, at a transactional value of $23, branchless banking is on average 38%
cheaper than commercial banks the study looked at.
o Branchless banking is 54% cheaper than informal options for money transfer.
o Customer usage is influenced not only by absolute prices but by the way a service is
priced. For example, in order to encourage trial of money transfers, some services offer free
deposits, which make branchless banking an affordable way to save.
o Average branchless banking price is $3.90 per month.
o Informal providers charge double the price for a money transfer than a branchless banking
provider.
Services analyzed:
o Afghanistan: M‐Paisa
o Brazil: Bradesco and Caixa
o Cambodia: WING Money
o Cote d’Ivoire: MTN Mobile Money, Orange Money
o India: Eko
o Kenya: M‐PESA and Zap
o Pakistan: easypaisa
o Philippines: GCash and Smart Money
o Tanzania: M‐PESA, Zap
o South Africa: MTN Mobile Money, WIZZIT
The study found that by comparing 26 branchless banking pioneers and traditional banks with
products aimed at the same kind of customers, on average, branchless banking is 19% cheaper
across eight use cases:

1. Sending Money Transfer

2. Receiving Money Transfer
3. Short‐term safekeeping
4. Medium‐term saving for asset
5. Bill Payments
6. High Usage (as a proxy for financial inclusion)
7. Average monthly transactions per M‐PESA user in 2008
8. Average monthly transactions per Kenyan banking customer in 2008

-Jim Rosenberg
http://www.tcs.com/offerings/bancs/banking/direct-banking/Pages/default.aspx

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