How can technology be used to serve rural clients?
Various technologies show promise for lowering the costs, managing the risks and increasing the efficiency of financial services in rural areas, including automated teller machines (ATMs), point-of-sale (POS) devices linked to smart cards, cellular phones, GIS mapping systems, and loan officers using personal digital assistants (PDAs). ATMs, smart cards, and debit cards can provide flexible payment options and more convenient access to client accounts. They can also reduce branch infrastructure and employee costs, and facilitate financial services in areas with poor communications and electricity supplies. PDAs can streamline the work of loan officers and speed decision making—as long as the financial institution’s loan analysis and client monitoring systems are sufficiently developed. The value of fast, field-level decisions can occasionally be enhanced by incorporating credit scoring into PDA systems. Cellular phones can be used to check loan balances and repayment schedules. They ha
