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Cost-effective solutions enable banks to support the poor

Tags: Bangko Kabayan Banking GM Bank Grameen bank HP-Encash Muhammad Yunus Philippines poor

By SMBWorld Asia Editors | Aug 31, 2010

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Since Muhammad Yunus’ poineering work on microfinance in 2006, a number of banks provide microfinancing loans as small as $20 to the rural poor. Yunus and his Grameen Bank showed how entrepreneurship and microfinance can significantly raise the living standards of entire communities.

In the Philippines the poor often cannot run small businesses because they lack capital, so banks like GM Bank and Bangko Kabayan are providing microfinance transactions in small amounts of both credit and saving. This is helping many people combat poverty to build small-scale and medium-scale businesses.

As a result, the rural banking industry in the Philippines is undergoing considerable growth as many rural banks expand their branch networks nationwide, modernize operations, and diversify to offer new areas of products and services.

Find out how GM Bank and Bangko Kabayan have implemented new technology such as HP-Encash banking solution to support a variety of workloads, easily and cost-effectively.

Please download the case study from the link above.

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SMBWorld Asia Editors

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