According to a McKinsey study (Beshouri and Gravråk, 2010), bringing financial services to the unbanked is a strategic shift for mobile operators as it presents significant commercial potential. Research4 shows that about one billion people in emerging markets have a mobile phone but no access to banking services.
However, I believe the Central Bank’s robustness of approach in this matter is evident from the Principles of Redress we have laid down and published, and with which we expect lenders to comply.