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It is estimated that, up to five billion people or 85% or the world's population globally are un-banked (according to a CGAP study), therefore completely lack access to basic financial services, such as loans, deposit accounts and insurance. It appears now that enabling MFI's with mobile Micro Financial services may be one of the keys to address the problem.

Many of the thousands of Microfinance Institutions (MFIs) worldwide recognize that technology is essential, not only to reach new customers, but also to make the business of Microfinance more cost-effective and sustainable. Mobile phones, Point of Sale devices, ATM machines, and a host of new innovations promise to help MFIs expand their service delivery capabilities more efficiently to people typically considered "unbankable".

One of our companies, Innova International is a software development firm that supports the Microfinance Industry. They experienced first hand how convergent technologies can support these institutions to provide financial services to micro-entrepreneurs in Latin America that otherwise would have never happen.

Using our expertise in applying Convergent IT and Network Technology to the Microfinance Industry we concluded that the major changes we will experience in the future will be the proliferation of transactions based services that exploit the ubiquity of IP. The enabling core transactions are financial in nature but they will evolve and will be integrated to every business service worldwide.

Thus we see a tremendous opportunity, in connecting MFIs to our IT platform (M.net) and giving them access to our Transaction Network (TX.net) to expand their client base and service offerings. The basic components of our platform, called the Microfinance Ecosystem, are described below:

Microfinance.Net (M.net) -- A platform to enable MFIs to manage their clients, services and operations.

Transaction.Net - TX.net -- A network to facilitate access and the flow of transactions among MFIs, MFI's and their customers, and among MFIs' customers. Some of the key components of TX.net are:

ACCESO account . This is accessible via the ACCESO Card or any mobile device.
ACCESO processors. These are Issuing and Acquiring processors integrated to M.net.
ACCESO merchants. These are merchants that have registered as MFI or Remittance agents via the M.net platform.
ACCESO partners. These are financial networks integrated to the TX.net.
ACCESO operators. These are mobile operators that participate in the TX.net program.