Financial Education

In Filipino grammar, adding the prefix mag is a nifty way to verbalize a noun. This extends from everyday, colloquial conversation Mag-kape tayo (Let’s have coffee) Mag-sine tayo (Let’s watch a movie) to more profound exhortations, like Mag-bago na tayo. (It’s time we make a change). The United States Agency for International Development-supported Rural Bankers Association of the Philippines Microenterprise Access to Banking Services (RBAP-MABS) Program with assistance from Microfinance Opportunities (MFO) is now assisting rural banks to extend this further to promote mobile phone banking services with the launch of mag-CellBank! and the pilot testing of the Financial Education for Branchless Banking Project.

mag-CellBank!, the service name for mobile phone banking services, employs the prefix mag to cell (for cellphone) and bank. Mag-CellBank! is an enthusiastic call for clients to perform banking transactions using their cellphones. The new name, along with a visual identity, is integrated into the new Financial Education for Branchless Banking toolkit developed under the project.

Launched in June 2010, the Financial Education for Branchless Banking Project is implemented by the RBAP-MABS Program with support from MFO, a Washington-based global nonprofit that develops consumer-focused ideas and solutions for the microfinance industry. The project, which is implemented in partnership with The MasterCard Foundation, aims to increase the uptake and use of mobile phone banking services through the use of financial education tools.

 The toolkit comprises:
 1.     Two posters (promoting Text-A-Payment and Text-A-Deposit) designed to be displayed in bank branch lobbies and storefronts of CICOs.
 FOR SAVINGS
Adobe Reader 7 or higher version FE Poster for Savings – English Version
Adobe Reader 7 or higher version FE Poster for Savings – Tagalog Version
 FOR LOAN PAYMENTS
Adobe Reader 7 or higher version FE Poster for Loan Payments – English Version
Adobe Reader 7 or higher version FE Poster for Loan Payments – Tagalog Version
 2.     A tri-fold standee for CICOs’ countertops and display areas.
Adobe Reader 7 or higher version  FE Tri-fold Standee – English Version
Adobe Reader 7 or higher version  FE Tri-fold Standee – Tagalog Version
 3.     A two-sided standee for banks’ countertops.
Adobe Reader 7 or higher version FE Two-Sided Standee – English Version
Adobe Reader 7 or higher version FE Two-Sided Standee – Tagalog Version
 4.     An all-in-one user’s manual which contains step-by-step instructions for completing transactions, a section teaching clients how to make savings plans and savings goals, with pages where clients can set up their own savings plan and goal, a frequently asked questions and troubleshooting section which highlights the safety features of the service; and a table where clients can record their mag-CellBank transaction details.
Adobe Reader 7 or higher version  FE Starter Kit – English Version
Adobe Reader 7 or higher version  FE Starter Kit – Tagalog Version
 5.     A picture flipbook, that utilizes storytelling to communicate the benefits of mag-Cellbank and outlines the procedure for completing transactions as well as stories for how and why to use a mobile phone for loan payments and for deposits.
Adobe Reader 7 or higher version  FE Flipbook – English Version
Adobe Reader 7 or higher version  FE Flipbook – Tagalog Version

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