Scotiabank and Digicel together have won the 2011 Global Telecoms Business Innovation Award for Consumer Service Innovation for their mobile banking service in Haiti.
Colm Delves, Group CEO of Digicel, said his company believed that TchoTcho Mobile will change the way people live and make transactions.
“With over 2.4 million subscribers and delivering 95 per cent population coverage and the largest retail network, Digicel is uniquely placed to deliver mobile money services successfully. We are delighted to receive this award and certain that TchoTcho Mobile will fast become an essential part of people's lives in Haiti,” he said.
Luce Veilleux, Senior Vice-President, Retail Products, Scotiabank said the financial institution was excited to be the recipient of the award and enjoyed working with Digicel to offer the product to the Haitian people.
"It's important to us to continue playing a positive role in Haiti's success by making financial services accessible, promoting financial inclusion and enabling businesses to grow and drive the successes of the Haitian economy just as we have since 1972,” Veilleux said.
The award was presented to Scotiabank and Digicel at the GTB Innovation Awards ceremony held this week in London, England.
The Innovation Awards are designed to celebrate collaboration between operators and vendors. The Consumer Service Innovation award recognizes the most innovative projects in the industry worldwide.
Prior to the devastating earthquake in Haiti in January 2010, only 10 per cent of the population used a commercial bank. TchoTcho Mobile has helped make banking easy, affordable and accessible to the 90 percent of Haitians who are unbanked but use mobile devices.
The service, run by a network of more than 500 agents, allows customers to perform basic banking functions, such as withdrawals, deposits and domestic money transfer to another mobile user. For businesses doing their part to revitalize the country's economy, Tcho Tcho Mobile has allowed them to manage their payroll by transferring money directly into employee accounts and accepting payment from customers for goods and services all through the mobile wallet.
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