The United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program joined mobile financial service stakeholders at the 5th Annual Mobile Financial Services – Asia Pacific Summit held at the Waterfront, Singapore on September 6-7, 2011. The annual conference gathers partners in mobile, banking, business and technology industries to build a robust and sustainable mobile commerce ecosystem.
Industry trends and challenges in the mobile financial services were discussed during the two-day summit. The impact of the near field communication (NFC) technology and smartphones were the highlights of the summit. Banks in countries including Singapore, Japan and Korea are now utilizing the power of smartphones in providing mobile financial services to their clients. The socio-economic impact and success of this innovation in the financial services space were recognized.



