Mobile banking for micro finance

Mangolia’s leading microfinance bank XacBank and Horus Nomadic Solutions have announced the launch of AMAR, a new mobile banking service for microfinance, on Thursday.
It will help XacBank’s clients to conduct cash transactions using mobile phones through a network of agents and merchants. AMAR services can be used with all four mobile operators — G-Mobile, Skytel, Unitel and Mobicom — in Mangolia, said a press release.

Horus Nomadic Solutions has developed Noomadic, a mobile banking platform for the purpose, to launch AMAR which will now serve the needs of banks and microfinance institutions. The platform is designed to offer financial institutions a wide range of mobile services using any type of mobile handset, the release said.

XacBank has entered into partnerships for the service with Petrovis, the country’s largest gas distribution network with 400 outlets and Mongol Post networks.

Source: http://www.microfinancefocus.com