INNOVATION SPIRIT 43 I SOCIETE GENERALE 2013-2014 NEW MODELS TO MAKE BANKING ACCESSIBLE TO EVERYONE Travelling bank representatives who ride motorbikes through Dakar to meet their customers. A branch open to everyone, even those without bank accounts. A mobile phone that is all you need to manage your money. Manko does not look like a bank and that is exactly what has made it a success among the unbanked in the Senegalese capital, particularly micro-entrepreneurs in the informal economy. Launched in 2013, Manko provides them with a full range of traditional banking products, including small loans at much lower interest rates than microfinance can offer. It uses Yoban’tel, a system for paying bills or transferring money without a bank account, using just a mobile phone. Initially created in Senegal, Yoban’tel has also been released in Cameroon under the name Monifone. In Chad, where three-quarters of the population is illiterate, Societe Generale offers a voice-texting service to inform and alert its customers.
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