2013 · Diasporayear only
Mobile banking crosses the border into Haiti
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In 2013 the Caisses Populaires Haitiennes, the federation of Haitian credit unions known as Le Levier, went into partnership with Boom Financial Bank, which has its headquarters in New York. The arrangement let Boom become the first to offer mobile banking across the border into Haiti, and it was described at the time as the first crossborder mobile banking and remittance service anywhere. The point of it was to let a person in the United States move money to a person in Haiti through a telephone rather than a counter. Credit unions reach parts of the Haitian countryside that commercial banks do not, so the federation supplied the ground network and the American partner supplied the technology. The chief executive of Boom described what was being assembled as a crossborder mobile money ecosystem. Haiti was the place it was tried first.