Al-Amal Microfinance Bank (AMB) shifted for digital transformation for development of financial services on phone apps via Mobile Banking (PYes) in conjunction with global shift for online banking services due to the spread of COVID-19. To address the challenges brought about by the pandemic, AMB created a package of online financial services on PYes App. The objective of this study is to explain the role AMB online services played amid the COVID-19 pandemic: Strengthen public safety measures in response to contemporary requirements of the period.
Impact / Outcome
AMB has contributed largely to promoting financial inclusion during the Covid-19 Pandemic in 2020. It has created diverse digital and electronic solutions, the first of their kind in the microfinance industry, at a time many of the MFI activities in Yemen have been halted. This shows the Bank’s capacity to cope with all emerging variables and difficult circumstances, as well as continue with the provision and diversification of financial services to facilitate access and improve quality of services, and reduce cost to a minimum by means of Mobile Banking (PYes App) which launched in 2017. Since then, PYes App has become a primary platform for delivery of all banking services to clients. The bank has spared no effort to make all AMB banking services accessible to clients on cellphone. Accordingly, clients can access all AMB banking services on cellphone.
Funding sources
Private
Key Metrics
Promote e-money uses in a way consistent with clients’ needs and reduce use of cash during this period in particular; Reach disadvantaged groups in need of banking services
Operating model
Fully privateYear published
01 August 2021