The next billion are more likely to have phones than bank accounts
What happens when 1 billion more people wired with mobile devices begin to require online financial services? The complete reinvention of banking as we know it. Won't this make financial regulation more complex and the world financial system more prone to instability? Will new digital currencies finally become real? What are the implications for cybersecurity? Quartz invites senior executives from the world's leading financial services institutions to discuss and debate the future of finance and the impact of digital money.
Claire Alexandre, Vodafone
Mung Ki Woo, Mastercard
Kelly Evans, CNBC (Moderator)
Claire Alexandre is the Head of Commercial and Strategy for M-PESA within the Vodafone Group, working alongside teams in Africa and Asia.She is at the forefront of enabling the development of new mobile financial service schemes, especially in developing and emerging markets. She supported the development of the M-PESA proposition early on while in charge of Vodafone financial services regulation and policy, among other public policy positions. More recently, Claire was a Senior Program Officer for Financial Services for the Poor at the Bill and Melinda Gates Foundation, leading their policy and regulatory strategy and programs.
Kelly Evans joined CNBC in February 2012 as an on-air correspondent, reporting across CNBC's business day programming. In May 2013, Evans was named coanchor of CNBC's "Squawk on the Street" and currently serves as interim coanchor of CNBC's "Closing Bell." Previously, Evans was based in London coanchoring CNBC's "Worldwide Exchange." Prior to CNBC, Evans was a reporter and columnist for The Wall Street Journal, penning the influential "Ahead of the Tape" column and writing for "Heard on the Street." She also hosted the daily "News Hub" program on WSJ.com and was a frequent guest on television and radio networks, including CNBC. Evans joined the Journal in 2007 as a reporter covering real estate and economics. Evans graduated magna cum laude with a bachelor's degree from Washington & Lee University in Lexington, Va., where she was a George Washington Honor Scholar, a four-time scholar-athlete, and inducted into the national leadership society, Omicron Delta Kappa.
Mung Ki Woo
Mung Ki Woo is Group Executive, Mobile at Mastercard. In this role, he is responsible for leading the development and commercialization of mobile payment product platforms and solutions around the globe that create a sustainable competitive advantage for MasterCard and its customers.
Mung Ki joined MasterCard in early 2011. Previously, he was vice president, Electronic Payments & Transactions at France Telecom – Orange, one of the largest telecom operators in the world with retail operations in 32 countries. There he led the development of the “Orange Money” mobile payment program, which at the end of 2010 was commercially available in 6 African countries. Mr. Woo was also responsible for commercial deployment of Orange’s mobile contactless services in their major European markets.
Prior to joining FT-Orange, Mr. Woo was chief technical officer of a French interbank organization specialized in electronic money systems.
Why do mobile payment systems sometimes seem better in emerging markets, like Kenya, than they do in Western markets like the United States? Mung Ki Woo of MasterCard and Claire Alexandre of Vodafone discuss.