Colombia is no different than other emerging countries with millions of people who are still excluded from the traditional financial system.
Innovation can drive financial inclusion and ‘Payphone Bank’ is the latest example of how telecom campanies are moving faster than banks through their existing infrastructures to improve the lives of millions of people.
8 million people are unbanked in Colombia and belong to the lowest income class with daily wages averaging $3.5.
‘Payphone Bank’ can convert 13,000 payphones across Colombia into a micro savings system for the under priviledged.
Tigo-Une’s “Payphone Bank” has been awarded by the Grand Prix for Product Design at this year’s Cannes Lions and is set to help a lot of people around the country and elsewhere:
“We have more than 6,500 payphones all over the city available 24 hours a day so that people can go and save, buy appliances and do anything they need through the payphones” said Diego Serna, Head of Public Phones at TigoUne