As in most developing countries, the majority of the population in South Africa don’t have access to bank accounts. Banks are either too expensive to maintain, or too distant from low income population (according to a study, it takes the average South African 58 min to access a banking facility).
However, due to mobile technology, this reality is changing. Mobile phones are becoming more affordable and accessible to the majority of the population (more people own mobile phones than computers). Taking advantage of this technology, WIzzit launched a mobile-based banking system, enabling customers to check their balances, view statements and make payments through their mobile phones.
It’s a great example of how companies can innovate, and yet make a difference. Wizzit is not only developing an potentially very successful business, but also making customers’ lives easier.
