Our policies on simplified or scaled down branches called microbanking offices (MBOs) have enabled banks to have a presence in areas that were previously unbanked. There are now 50 municipalities from 37 in 2011, an increase of 35 pct, that are served by MBOs alone.
We have also continued to leverage off mobile technology by enabling alternative financial service providers (FSPs) as effective touch points to banking services. FSPs, including pawnshops, remittance and e-money agents, which tend to be available even in areas with small population and have high incidence of poverty, now total over 46,200 from about 38,400 in 2011, or a growth rate of 20pct.