Participating banks

Participating Banks

GAFIS is working with five participating banks (“Participating Banks”) from five different countries (across Asia, Africa and Latin America). Background factors in our pursuit/selection of partner banks include:

Not competing with each other : this is critical because peer networking dynamics are very important to GAFIS
Geographic spread : at least two Partner Banks from Africa; at least one from Asia; and at least one from Latin America
Product diversity : at least one product linked to each of the four Gateway opportunities

The five Participating Banks are summarized below:

	Bancolombia Colombia	Bansefi Mexico	Equity Bank Kenya	ICICI Bank India	Standard Bank South Africa
Assets	$22 Billion	$1.2 Billion	$1.3 Billion	$81 Billion	$111 Billion
Deposits	$14 Billion	$0.7 Billion	$0.9 Billion	$45 Billion	$76 Billion
# Branches	752	513	113	2,500	620
# Own ATMs	2,380	30	515	5,630	4,800
# Agent points	602	6,300*	1,010*	229	7,000
# Customers	6 million	5 million	5 million	30 million	8 million
Primary gateway opportunity for GAFIS project	Existing low-income clients with low balance, unprofitable deposit accounts	G2P recipients receiving their transfers via Bansefi. Many currently receive their transfers in cash, but are being migrated to electronic transfers.	Existing low-income unbanked mobile money users and holders of ‘underutilized’ Ordinary Equity accounts.	Low-income domestic remittance senders and receivers; G2P recipients receiving their transfers via ICICI.	Existing low-income clients holding underutilized, unprofitable accounts.

Value proposition to Participating Banks

The Program offers the following instruments to Participating Banks:

What GAFIS expects from the Bank

Development & marketing of a savings product innovation designed for the poor.
Commitment to seeking a sustainable business case for delivering useful savings products to poor clients.
Allocate internal bank resources to actively participate in and indeed lead the working partnership (demand-side and supply-side research, product development, marketing, business case analysis).
Participation in peer network annual events and visits.
Subject to confidentiality agreements, willingness to share relevant internal bank information on key research questions (e.g., product usage; profitability; cost structure). There will be a robust and tightly defined agreement around usage of such information.