06 Jan '12, 10am

IBM's Social Innovation is Supporting 'Smarter Banking' in Kenya: IBM is helping Kenyan sugar

IBM is helping Kenyan sugar cane cutters through its social innovation support of a mobile banking system. It enables these workers to earn more money. Normally, a sugar cane farm would have to shut down for two or three days a month to enable its cane cutters to travel to a bank branch and wait in a long queue to deposit their pay. Now, with the introduction of mobile banking, the cane cutters can keep working and monitor their pay deposit on their phones. The mobile banking also allows them to access cash from local agents, buy at local shops and transfer money to others. IBM has collaborated with Family Bank , a Kenyan bank, to implement an Oracle FLEXCUBE core banking system which runs on IBM hardware and the IBM AIX operating system. This social innovation mobile channel will be key to Kenya's banking industry and to its neighbouring countries. Anthony Mwai, country g...

Full article: http://www.justmeans.com/IBM-s-Social-Innovation-is-Suppo...

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