The Consumer Protections Built Into Branchless Banking - Mobile World Live

The Consumer Protections Built Into Branchless Banking

24 FEB 2010

As regulators confront the challenges of regulating branchless banking, protecting the consumer is often their primary concern. And for good reason. Branchless banking is a new service targeting the least sophisticated customers and introducing new actors such as mobile network operators and retail agents into a sector formerly reserved for well capitalized and regulated commercial banks. As a result, there can be an understandable tendency to err on the side of caution.

But compliance with regulations comes at a cost – and that cost is ultimately passed on to the consumer…

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