Ericsson and ASBANC launch connected mobile money service in Peru

Peru’s National Bank Association ASBANC has launched its next-generation mobile wallet service, known as “Bim”, in partnership with Ericsson.

In emerging markets such as Peru, the development of m-commerce services is beneficial both on societal and individual levels, and ASBANC is aiming to include 2.1 million unbanked Peruvians by 2019.

M-commerce services provide the unbanked with monetary accounts and open the gates to the formal economy. In Africa and Latin America, this development is already apparent. M-commerce will benefit society over time and is an integral part of the entire development of countries. 

Ericsson’s solution includes full systems integration in one platform capable of hosting all services from different financial and commercial institutions to secure interoperability. The solution also allows financial service providers to reuse existing assets to bundle secure telecom and financial services. In addition, Ericsson has provided ASBANC with systems integration, learning services, managed services and support.  

Oscar Rivera, President of ASBANC, says: “We see great potential with this platform strengthening the financial system in Peru. This is a huge inclusive effort done by the financial industry that now can count on the support of Industry and Communications Technologies to support and growth and transformation.”

Carolina Trivelli, Digital Money Project Manager, says: “We are secure that we will reach great achievements with digital money services. With this platform, we are able to connect the unbanked with easy-to-use financial services that they have previously been unable to access.”

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