The panel, organized by the Microfinance Committee, was co-sponsored by the Columbia Business School Alumni Club, and featured FWA member Wendy Miller of BNYMellon, who spoke about remittances and her bank’s platform for mobile banking.

In addition to Wendy, the speakers included Ludwig Schulze, Gautum Ivatury, and Roy Sosa, who came from Austin, Texas-based MPower Mobile on his way to Davos.

The growth in use of mobile phones in emerging markets is dramatic.  All panelists agreed that the convergence of mobile with financial services is an exciting business opportunity and potential driver of value to the underserved.  Kenya’s MPesa has seen the most dramatic growth in mobile banking.  At the same time, there are challenges in further adoption—regulatory issues, opposition from vested interests, and the difficulty of achieving margin with so many agents involved.

The panel was organized by Marjorie Churgin, Co-Chair of the Microfinance Committee, with Wendy Miller, Liz Lynch, Kim Weinrick, and others from the committee.

Highlights