ICT for SMEs >>> Policy Recommendations

Vadim Kotelnikov icon Vadim Kotelnikov


Mobile Banking for SMEs

Adoption Catalysts




Mobile Banking for SMEs - M-Banking Adoption Catalysts

M-Banking Adoption Barriers and How To Reduce Them

The major barriers to m-banking adoption by small- and medium-sized enterprises (SMEs) are the operational constraints such as cash management, policy and regulation, and administrative obstacles.

Strengths and Weaknesses of SMEs

What factors do influence the intention of SME managers to adopt an m-banking service?

Naturally, modern SMEs want mobile-based banking that helps them run their businesses smarter.

Benefits of e-Business

ICT Trends: Market Shifts

Education is a very important factor that is associated with m-banking adoption. Though many SME managers have mobile phones and know about the m-banking service, a higher rate of awareness and education obviously will facilitate m-banking adoption. Especially people from a lower educational background may not understand the usefulness of m-banking.

Sell Benefits

SME owners/managers need low cost accounts to take advantage of small savings and micro credit opportunities. They would adopt a technology if the technology has a use and is affordable to buy and maintain.

Many SME's managers/employees, especially rural ones, are reticent to divulge banking information online. Therefore, proper education and training should be given to reduce the effect.

Voice recognition based m-banking is especially suitable for illiterate people. Interoperability of m-banking between the mobile networks is important as multiple SIM usage is common.

And finally, engagement with the SMEs is an important organizational factor in m-banking diffusion, especially for rural SMEs.