Opportunity has invested more than $20 million over the last 10 years in the use of electronic and mobile technologies to reduce transaction costs and bring services to the most marginalized and remote clients. By establishing low-cost satellite branches and deploying ATMs, point-of-sale (POS) devices and mobile banks in outlying areas, banking services are provided to people in their own communities.
Opportunity has launched an electronic wallet strategy tailored to the needs of Malawi. Building on existing infrastructure, Opportunity is designing and implementing new electronic and mobile banking technologies to reduce transaction costs for customers and increase the number of people who have access to these critical services.
Capturing clients’ biometric information provides convenient and secure access to finances, even for those who are illiterate or lack formal identification. See the image below where bioemetric technology is allowing our client, Mercy Chipeta, to access her account without formal and expensive paper identification.When clients open an account, their fingerprint is scanned and stored in the bank’s system, enabling electronic transactions at retail and ATM locations. New technologies use cell phones, and satellite and broadband Internet to further increase Opportunity’s reach. The Opportunity Technology Center provides high-tech management information systems solutions for its banks.
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Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.
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