Mobile Banking Promotes Financial Security in Kenya

Mobile banking, or allowing funds to be sent electronically to a “mobile wallet,” may not spring immediately to mind as a major opportunity in developing countries. But in Kenya, a mobile banking project launched last November has helped families receive financial aid more quickly, efficiently and, most important, safely. In this video produced by our corporate partner Standard Chartered Bank, which created the Straight2Bank Wallet service, a Kenyan girl named Beatrice and her family talk about how they’ve used financial support through ChildFund to purchase her school books and uniforms, and ChildFund’s global treasurer, Sassan Parandeh, discusses its advantages in terms of security and broad social and economic change.

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