Kiva looks to the future of mobile banking with zip.kiva.org

 

During the Social Media Track part of LeWeb Day 3 on our Plenary II Stage, Cedric Giorgi had a Q&A with Matt Flannery, Co-founder and CEO of Kiva.

We discussed social change and doing philanthropy in groups, as well as how Kiva got started (Kiva was initially helped by a few friends and family members of Matt until the word got out and the press fell in love with the organization), but at about minute 7:30, Matt started talking about the future.

He talked about how banking is developing and said

"Banking is being rewritten in a new way in the developing world, and in some sense it may be better than how it was written in the developed world"

He talked specifically about the rise of mobile technology and pointed out that in Kenya, about 1 in 5 transactions happens via mobile banking, that is, via text message. You can send money directly through your phone instead of using cash, and actually it's easier to use than cash! Even in the Silicon Valley you can't say that, just yet.

Matt called mobile banking "the future of microfinance," stating that

"mobile banking will rewrite the history of banking in the developing world and provide small bank accounts to hopefully billions of people one day"

Kiva just started integrating with mobile banking in Kenya, and announced the launch of Kiva Zip.

With Kiva Zip you can now you can lend money directly from a website to a farmer's phone in Kenya. According to Matt your loan will arrive in 3 minutes, with a 0% interest rate.

He did warn that since Kiva Zip is so new (2 weeks old) and so different from Kiva.org (find more about the difference here or by asking Matt directly on Twitter), they do not expect returns to attain the 99% rate they have reached for Kiva.org loans. He said, however, that they are going to try whatever they can to reduce this risk. 

According to Kiva Zip's website, "Kiva Zip is attempting to take the use of technology to the next level, such as mobile and electronic payments that enable the direct transfer of funds between lenders and borrowers."

Invitations to the pilot are available at zip.kiva.org and/or you can watch the whole video of Matt's Q&A at LeWeb below:

 

 

 

Posted by Michelle Chmielewski

LeWeb Latest News

Thu, 12/08/2011 - 09:45
This year we are in awe of the illustrations that are going on LIVE at LeWeb  JESS3 LiveSketching.com For those of you that are at LeWeb, the real-life versions are next to the Salesforce stand in our Pullman Dock and you can also see the Live Sketches in Flipboard version thanks to Fotopedia here  
Thu, 12/08/2011 - 18:24
  Check out some of these awesome stats from LeWeb pre-DAY 1 :  LeWeb 2011 Radian6 Summary pre-Day1 View more presentations from Le Web and LeWeb DAY 1: Radian6 Stats of LeWeb 2011 Day 1 View more presentations from Le Web.   Thank you Radian6!       Posted by Michelle Chmielewski
Wed, 12/07/2011 - 12:16
Dave Morin, Path's Co-Founder & CEO, blew us away onstage with his live demo of Path 2! Among the Top 25 in the app store, Path has been working on this for over 6 months. "We're a completely design-driven organization, and we launched this version on Android and iPhone simultaneously," he said.  Path has raised $8.5 million so far, and they have about 100,000 users that use Path every day.  Check out the video to see more :  Path -...
Wed, 12/07/2011 - 11:31
The news keeps coming at LeWeb '11! After Karl Legerfeld left the audience breathtaken with his hommage to Steve Jobs, Steve Jang, Co-founder & CEO of Soundtracking launched an Android app onstage during his Q&A with MG Siegler. The video will be up soon, but Steve said that you'll be able to listen entire parts of songs and then download from iTunes if you'd like.  With the Android version, you'll be able to integrate with Spotify or Rdio, and although Siegler is...
Wed, 12/07/2011 - 11:26
Uber, a well-known taxi service in the Bay Area for its elegant and fast service, has launched in Paris! "Everyone's private driver," we wish we could have had this last year when it seemed like the sky was going to fall on Paris from the amount of snow! Travis Kalanick, Uber's co-founder and CEO, told MG Siegler, "We've had cars on the ground since Friday, and we feel like we're rolling out a transportation system." If you're unfamiliar with Uber, here...
Wed, 12/07/2011 - 10:48
  Check it out, Karl Lagerfeld launched his new collection at LeWeb TODAY :
Thu, 12/08/2011 - 14:22
  Deezer, one of the top music-sharing sites, announced at LeWeb that they will be expanding their music sharing service into 130 more countries worldwide for a total of more than 200.  You can watch the entire video of his talk onstage below, and if you're not going to the Deezer Official Party don't worry : It will be streaming LIVE here Thank you, Deezer! Come back later for the livestream of our Official Party :  Live - The Ting Tings par deezer  ...
Thu, 12/08/2011 - 09:24
Flipboard is THE new magazine on iPad, and today Mike McCue announced at LeWeb 2011 that they are launching an iPhone app!  Flipboard has now raised $60.5 million and Mike said that they acknowledged that people don't surf the same way on iPhones as they do on iPads.  Check out the video here:   Don't forget that you can get LeWeb Magazine on Flipboard! See behind-the-scenes pictures and great moments from LeWeb.       ...
Wed, 12/07/2011 - 10:53
Karl Lagerfeld was certainly one of the most awaited celebrities for this version of LeWeb, but he blew us away while drawing Steve Jobs on an iPad onstage :     Posted by Michelle Chmielewski & Cédric Giorgi
Thu, 12/08/2011 - 09:07
LeWeb's Startup Competition began earlier in the year with over 600 applications from all around the world. Monday and Tuesday of this week, our 16 finalists received expert coaching from Chris Shipley and Michelle Messina from Guidewire.  It was difficult to narrow 600 down to 32 semi-finalists, and finally - thanks to your votes - down to 16 finalists. These 16 finalists will be presenting during Day 1 and 2 of LeWeb for 1st, 2nd, and 3rd place prizes. The...

Pages