Recent initiatives designed to make U.S. consumer financial products simpler and intelligible to customers, reminds me of a study we did on Mobile Banks† in the developing world. Designed to work on the simplest mobile devices and originally targeting the unbanked, mobile banks evolved from simple services (transfer of mobile air time) to become widely used money-transfer and mobile payment system
![Mobile Banks in the Developing World Prove Simpler is Better - O'Reilly Radar](https://cdn-ak-scissors.b.st-hatena.com/image/square/a79d5ba901e0eeb59cbcfc9aa3dc5f206fb37fe1/height=288;version=1;width=512/http%3A%2F%2Fs.radar.oreilly.com%2Fphone-graph.jpg)