NB Financial Health
Mobile Finance and Commerce 2.0: Mondato Summit Asia to discuss why emerging Asia could lead the way – Oct. 20-21, 2015
Although mobile money is most commonly associated around the world with East Africa, its origins lie in services that went live in the Philippines several years before African MNOs launched that continent’s first deployments. In 2004, Globe Telecom launched GCash, the Philippines’ second mobile money deployment. In the decade since then, the mobile finance and commerce (MFC) ecosystem in the Philippines and across emerging Asia has grown to the point where it is on the verge of producing “MFC 2.0,” leading the world in MFC innovation.
The rapid pace of technological change and falling smartphone and data prices are enabling companies in Southeast Asia and beyond to take advantage of the popularity of social media and new patterns in m-commerce to deliver more advanced MFC services. In little more than a year it is likely that more than half of all Filipino mobile phones will be smartphones, and by the end of the decade almost three-quarters of Filipino users will have upgraded from feature phones to smartphones. The improved user experience that accompanies this switch will popularize the use of mobile phones for a wider variety of use cases than making calls and texting, as has happened in more advanced economies. Southeast Asia’s relatively young population means that in a few short years the majority of the region’s population will have grown up conversant in social media, texting and mobile browsing, barely able to imagine a world without mobiles.
The youth of today are the consumers of tomorrow, and not only will they demand access to digital content on their phones, they already increasingly expect products such as loans, savings and insurance to be available to them via the mobile channel. Such expectations are already paving the way for the introduction of even more complex, multi-layered MFC value propositions. The diversity of Southeast and emerging Asia and its connection to significant international remittance corridors is driving forward the adoption and usage of mobile wallets and related products and services. Consequently, Southeast Asia presents possibly the best opportunity globally for a cross-pollination of MFC-related ideas that would be unlikely even in other regions considered mobile money hotspots.
What exactly MFC 2.0 will look like will be the focus of attention at Mondato Summit Asia, which will take place Oct. 20-21 in Manila, the Philippines. Mondato Summits seek to offer clarity amid a chaotic and rapidly developing industry by identifying the key issues that will shape the evolution of MFC in the years ahead. Combining a unique mix of information sharing, solution seeking and networking, the Mondato Summits series aims to help stakeholders navigate the fast-growing, but highly fluid and complex, MFC space.
Mondato Summit Asia will bring together innovators and C-level industry leaders from across the MFC ecosystem. In addition to banks and MNOs such as Globe Telecom and BPI Globe BanKo, in attendance will be key stakeholders from the insurance, retail and tech sectors, as well as thought leaders, startups and innovative service provides, to expand upon and expound a content-rich agenda.
By bringing together this caliber of experts and peers in an intimate setting, Mondato Summit Asia 2015 will thrash out some of the details of what MFC 2.0 is likely to look like:
- With MNOs, banks, tech and specialist vendors, and even perhaps merchants all having potentially prominent roles, which players might be best placed to lead this revolution?
- What innovative business models are suited to the region and have the potential to transform MFC?
- How will the transformation of the mobile phone into a small personal computer commoditize vast amounts of data about consumers?
- What will be the role of big data in delivering faster growth?
- What are the stumbling blocks that may hold back the development of the market?
These are just some of the questions that will be discussed at Mondato Summit Asia 2015. To read more about the summit and the Mondato Awards, or to register, click here. NextBillion, a media partner for the conference, will also feature coverage after the event concludes.
For more information on speaking and sponsorship opportunities, please contact Arielle Jaffe at email@example.com or +33 6 95 93 43 95.
Chris Connolly leads Mondato’s media efforts and provides research and analysis to support its reputation as a thought leader, as well as assisting Mondato’s work in the field of MFS regulation.