Denpasar, Indonesia, September 6, 2010—IFC,
a member of the World Bank Group, together with Bank Sinar Harapan Bali
and AXIS, Indonesia’s fastest-growing mobile operator, launched a mobile-banking
project to establish low-cost banking that will help expand access to basic
financial services for millions of underserved in Indonesia.
The mobile-banking pilot project is
expected to encourage many more people to open bank accounts for the first
time by making opening and maintaining an account via mobile phones easy
for millions of Indonesians who currently have no access to financial services.
The project will be carried out over
16 months, with an initial focus on building awareness and trust in electronic
transactions among the target population. In a second step, Bank
Sinar Harapan Bali will introduce the use of mobile phones and other mobile
devices for banking transactions, especially in rural areas.
“Bank Sinar Harapan Bali is committed
to developing mobile banking capabilities to expand our customer base,
especially to those in Bali’s remote villages,” said I.B Kade Perdana,
President Director of Bank Sinar Harapan Bali. “We are pleased to
partner with IFC and AXIS, who will assist us in strategy development and
provide the technology backbone for the mobile banking service.
Wahyudin Adikusumah, Director Human
Resources and Communications of PT Natrindo Selular (AXIS), said, “Our
vision is to bring the benefits of affordable communications to all Indonesians,
access to financial services through the mobile phones can help transform
lives. We also see significant growth potential in this emerging
marketing, partly because we believe that mobile technology can revolutionize
social and economic growth in Indonesia. AXIS is pleased to be partnering
with IFC and Bank Sinar to deliver this.”
IFC’s global experience in developing
mobile banking has helped more than 300,000 people in South Africa access
banking services at lower costs. Globally, IFC provides investments
in innovative payment processors, mobile-money operators, and alongside
telecommunications operators and financial institutions involved in payments.
IFC also advises mobile-money clients on strategies and products
focused on inclusive business, including advisory services on market segmentation
and strategy development; agent network development; consumer identification
and education; and impact assessment.
“Access to basic financial services
allows microenterprises and households to better manage their finances,
to reduce their vulnerability to shocks and to make investments in their
businesses and families”, said Adam Sack, IFC Country Manager for Indonesia.
“Our experience in mobile banking has demonstrated that it offers
vast potential to extend the reach of financial services to unbanked populations.”
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in developing countries. We create opportunity for people to escape poverty
and improve their lives. We do so by providing financing to help businesses
employ more people and supply essential services, by mobilizing capital
from others, and by delivering advisory services to ensure sustainable
development. In a time of global economic uncertainty, our new investments
climbed to a record $18 billion in fiscal 2010. For more information, visit