European Bank for Reconstruction and Development (EBRD) commissioned BearingPoint to undertake study
London/Frankfurt, May 16, 2013 - Management and technology consultancy BearingPoint has released the findings of its major study into mobile money adoption for the European Bank for Reconstruction and Development (EBRD). Spanning the 29 countries of EBRD operations, this landmark research examines the benefits and challenges of mobile money deployment across the region.
BearingPoint’s research finds that consumers stand to gain most from the growth of M-commerce with the benefits of greater financial inclusion, increased socio-economic development and improved security of cash. Companies adopting mobile money will gain the advantages of operational cost reduction, increased market penetration and greater customer retention and for governments the move to M-commerce will reduce the shadow economy and increase tax revenues.
There are hurdles to overcome, however. Universal mobile telecom network coverage and access to smart devices are essential to run mobile money platforms and governments need a progressive regulatory regime to foster the development of these novel payment structures.
Christian Bruck, Partner Financial Services at BearingPoint, says: “There are sizeable opportunities for mobile money players across the EBRD region, although not everyone is operating at the same speed and with the same focus.”
Andreas Rindler, Senior Manager Financial Services at BearingPoint, says: “Most of the prerequisites for M-money have been met, but tailored propositions are required to develop markets currently at differing levels of maturity while maintaining all-important inter-operability.”
BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our 3500 people, together with our global consulting network serve clients in more than 70 countries and engage with them for measurable results and long-lasting success.
For more information, please visit: www.bearingpoint.com