Banking, yes – banking, for the Poor

By teaming up with retail outlets in low-income, often hard-to-reach areas, financial institutions can create value both for themselves and their new customers.

Here is an excellent article, truly worth reading – and sharing – courtesy, mckinseyquarterly.com

Correspondent banking has become one of the most promising strategies for offering financial services in emerging markets. In this model, financial institutions work with networks of existing non- bank retail outlets — such as convenience stores, gas stations, and post offices — to deliver financial services.