Ecobank launches mobile banking service in DRC

Jul 05, 2012

Ecobank has just launched its new mobile banking service, called 'Ecobank Mobile banking', in the Democratic Republic of Congo.

Ecobank has just launched its new mobile banking service, called 'Ecobank Mobile banking', in the Democratic Republic of Congo.

This product will allow the bank's clients to access their bank account on their mobile phone and transfer money, pay bills or make purchases.

It should increase access to banking services in the country, where only ten percent of the population owns a bank account, Le Potentiel newspaper reports.

Ecobank partnered with Airtel to launch this product and plans to extend its partnership with other mobile operators in the near future.

"Access to financial services being only 24 percent in DRC, the ultimate benefit is to make the bank accessible from a mobile phone. It's the possibility for all Congolese people with access to a mobile phone registered with the mobile operator to have access to a bank account in order to use and save money easily and safely ", says an Ecobank press release published on June 28th.

Jean-Claude Masangu Mulongo, BCC Governor, told Le Potentiel newspaper that mobile banking "will significantly raise the level [of] access to banking services in the country".

He believes that this new technology will increase the number of bank accounts to 15 million within two years, which is ten times more than today.

This new service would therefore widen access to banking services for the whole population, even in isolated rural areas, as long as they have mobile coverage.

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