SAP Mobile Banking: The New Age of Inclusive Banking

Posted on April 19, 2012


NOTE: Due to a scheduling conflict, the following PI Window on Business segment will air at a later date . . . we will provide the new date and time as soon as it has been confirmed.

As a follow-up to my interview with the movers and the shakers within the world of SAP mobility solutions, I will be welcoming to the PI Window on Business on April 23rd the individuals responsible for overseeing the company’s mobile banking solutions group.

In what will be a very interesting 45 minute segment, we will touch on what mobile banking actually entails as well as what it means in terms of stimulating the economy through the ability to reach out to the unbanked as they have been called, by offering on the spot accessibility and service.

While we will be referencing the South African Standard Bank case study, what is worth noting is the fact that in the U.S. there is still according to my December 2011 interview with CONFIDA founder Danny Wexler, a reasonable percentage of the population that does not have a bank account.  Some estimates put the number of unbanked as high as 7.7% or 9 million people, while 17.9% or 21 million people are underbanked.

In the segment titled “Who’s In Your Wallet?” How to Protect Yourself from Holiday Fraud,” Wexler indicated that this opens the door to problems such as the proliferation of counterfeit money which once in the system continues to circulate.  The reason; when either an individual or a small business owner discover that the money they have is counterfeit, if they turn it into the authorities the funds are not replaced which means that it becomes to them an out of pocket, unrecoverable expense.  This scenario is obviously made worse in a bad economy.

All this being said the benefit of having the ability to take banking out to the people extends well beyond mere convenience as we will discover during Monday’s segment.

Remember to use the following link to access the segment show page through which you can tune in to both the live and on-demand broadcast;