Building Women-Focused Finance

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Building Women-Focused Finance: The Global-Local ExperienceJeffrey J. Lee, CEO

Urwego Opportunity Bank (UOB) - Rwanda

www.uob.rw

Building Women-Focused Finance

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UOB is a licensed microfinance bank in Rwanda• 11 branches, 33 credit offices, 1 mobile branch, 190,000

customers (80% of borrowing clients women, 85% rural)• The first and largest in Rwanda

Full range of services• Loan products, including traditional group loans• Savings and insurance products• Remittance services

Management objectives driven by triple bottom line• Transformation, outreach and sustainability

Building Women-Focused Finance

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Interest is paid

Life insurance for customer and 2 family members

Manage UOB loan:• Repayments• Receipt of loan

Make deposits and withdrawals though network of Agents

• Through mHose, UOB are giving customers access to the full range of banking services through their phone

Other services: Send money, buy airtime, pay bill, balance enquiry

Customer bank account

Building Women-Focused Finance

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1. Reduce operational cash related risks• Lending staff no longer need to handle cash

2. Increase efficiency and productivity• Lending staff, data entry teams and Branch network will all

experience benefits

3. Provide clients with easier access to UOB• Customers will have convenient, safe and affordable access to

savings, loan and insurance services• Especially those customers with no access to a branch

Building Women-Focused Finance

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Customers• Over 13,000 registered, USD 1.1 million transacted in Oct• Customers have received mHose well

• Convenience and security of paying their loans

Agent network • 100 Agents registered throughout half the country • 500 Agents by YE 2014; mVISA Agents to 2,000 by YE 2014• Liquidity availability and customer service is acceptable

mHose system• System reliability and performance is much improved• Basic functionality is understood by customers and Agents

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Challenges and solutions

Protect group cohesion and liability• SMS’s to group leaders (and airtime?)• Ensure monthly meeting attendance

Provide adequate business case• Sufficient customer numbers and usage• Review commission structure

Ensure sufficient liquidity• Weekly forecast and coordination with staff

Ensure system availability and reliability• UOB, VISA and SG to work together• UOB to communicate and rate system issues

immediately

Increase customer usage: transactional and savings account• Customer training and incentives• Agent availability and liquidity levels

Building Women-Focused Finance

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Now in mobile and agent banking…

Building Women-Focused Finance

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Interoperable mobile and agent banking…