In the News: Mobile Phones Transforming Commerce

According to a Forbes report, many emerging societies are developing new ways to do business using mobile phones. Mobile platforms for banking are multiplying rapidly in places where financial infrastructure is lacking. For instance, these new systems allow customers access to their accounts – to withdraw, deposit, transfer their money – on a basic mobile phone. The article also points out several key obstacles that these new mobile based banking systems will have to overcome in order to seriously compete with more traditional banking forms in industrialized countries – engaging with and learning from customers, building customer awareness, and making transactions easy.

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About CTED

CTED, as part of the New York University Abu Dhabi Research Grant, is a multidisciplinary research lab that focuses on combining economic principles, technological advances, and human-centric design to create innovative solutions for the problems experienced in emerging regions.
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