February 18, 2016

A Bank on Wheels

A Bank on Wheels

In Pakistan, where over 90 percent of the population has no access to banks, loans or other financial services, FINCA is using innovative methods to make a difference and reach more customers. In rural areas of the country, where access to financial services is limited at best, many have to travel far to find a bank branch, to deposit money or take out a loan. FINCA has been bringing the branch straight to those who need it most, through the use of mobile vans.

Since December 2014, our staff in Pakistan have been driving two FINCA vans to the rural areas of Punjab to help low-income farmers and small business owners open accounts, apply for loans, deposit cash and transfer funds. Each van is connected to FINCA’s operating system through satellite connectivity and updates the client’s account in real-time.

Since the van program was launched, over 450 people have been able to save money and take out loans for the first time in their lives, making it easier for them to expand their businesses or save for the future.