The GMSA NFC & Mobile Money Summit took place 14-17 October 2013 in New York, NY. This well attended event included a comprehensive conference program and cutting-edge exhibition as industry leaders in the mobile and financial sectors were brought together to discuss the latest innovations and key learnings within the mobile money and NFC sectors.
In this video, Guy Stuart, Executive Director of MFO, discusses the importance of financial education as a mechanism for achieving financial capability among consumers of mobile money services, and the role that education can play in aligning the capabilities of consumers with the products and service delivery systems of mobile money providers.
Guy explains the business case for financial education by noting how it can result in changes in consumer behavior that are both beneficial to the consumer and to those serving them. He gives the example of a microfinance institution in Zambia, Vision Fund, which saw its customers becoming more strategic in their approach to loans after receiving financial education through a program designed in cooperation with MFO. As a result, credit officers and managers at Vision Fund, Zambia reported having fewer problems with loan delinquencies among their borrowers.
Guy Stuart’s presence at the GMSA NFC & Mobile Money Summit was supported by funds from the Citi Foundation.
