The Grameen-Obopay Bank a Billion Initiative will provide access to affordable financial services, including cross-border remittances, money transfer, payments, savings and credit accounts. Working initially in Mumbai, India and in Bangladesh, the Grameen-Obopay Bank a Billion Initiative will begin delivering services in October 2008. The two companies believe that using mobile technology to deliver banking services overcomes previously limiting restrictions of space and time by using existing infrastructure to give poor people access to financial services. Mobile technology can deliver financial services to billions of underserved people on every continent, Obopay and Grameen Solutions conclude. At present, there are 3 billion active connections to GSM mobile communications networks globally, while emerging markets are responsible for 85 percent of new connections today. Gramen Solutions is the flagship technology company within the Grameen family of organisations. Founded by Muhammad Yunus, recipient of 2006 Nobel Peace Prize, Grameen Solutions offers business services, management consulting, software development, business and technology process and service outsourcing.
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