FINANCIAL SERVICES TO THE UNBANKED AND UNDERBANKED
European Payment Forum 2013 22nd of November, Vienna
Times are changing We are expanding
licence
2009
Experience Since ‘08 MoneyPolo initial offer
Cash Transfers Today’s Extensions
PrePaid cards
Bill Payment
Payment Accounts
Forex Services
Key points
01
03
05
THE MORE AND MORE UNBANKED
EVERYONE PAYS BILLS
02
SAME RULES SAME ATTITUDE
04
MONEYPOLO & BANK SERVING SOCIETY
WORKING TOGETHER BUILDING NEW WORLD
Have you ever been excluded?
93 MasterCard estimates
Basic characteristics: • Irregular income • Financially uneducated • Often are victims of criminal elements
million in Europe
adults barely r-e-a-d
80 million
and growing
14.0 %
Over 26.3 million
100K every year
33 million in EEA Who are the unbanked?
Conclusion The Unbanked and Underbanked experience difficulties with accessing the conventional financial system.
Almost 25% of the European population is or has been effected
Essential financial services • Transactions • Credits • Savings • Insurance
• Risk of Money Laundering • Fraudulent currency in circulation • Victims of crime
What We Do • CASH-CASH - highly demanded by migrants • CASH-BANK - pay to those who have an account • BANK-CASH - getting paid salary and cash • PREPAID - Visa Card, MasterCard. The world of ATMs and e-shops
According to MasterCard: Unbanked 13.20
What about getting a bank account???
I don’t trust them, I don’t like banks
13.20
13.21
I was denied...
13.21
13.21
Technically, I don’t need it… I just use MoneyPolo, it’s like a bank
13.22
Compliance workflow
• AML program • Risk Management • EDD, SDD and Customer profiling and validation checks • All work to prevent being used as conduits for illegal activities
Pure customer
Risk assessments & mitigation
• Identification • Requirements • Obligations • Reporting
Closing Summary • Banks and Non Banks can work together • Business compatibility • Common interest – cash-less world
copyright MoneyPolo©
FINANCIAL SERVICES TO THE UNBANKED AND UNDERBANKED
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