Co-operate Bank is now offering mobile banking called “EASi Mobile Agent Banking” and targeting people in rural areas where there are not many banks according to the executive vice chairman and CEO of the bank on July 25.
“New mobile banking is available now and it has easy access to banking like money transfer service for those live in rural areas,” Kyaw Line the bank’ CEO said.
Account holders can transfer money through mobile phones and cash receivers can withdraw the wired money at any CB branches. Later account holders can transfer cash to banks that working together with CB, he explained.
CB’s mobile banking is using the technology from Swiss-based Temenos Banking Software Company. Wiring and receiving can be done with mobile phone that has internet access or SMS system.
Currently 70 people have applied to become agents for money transfer service. According to the bank, to become an agent, applicant must deposit Ks 3 million. An applicant who deposits 10 million in advance will earn interest according to Pe Myint, the bank’s managing director.
Source: ELEVEN MYANMAR