United NationsDepartment of Economic and Social Affairs Sustainable Development

FinTech for the Unbanked -Promoting financial inclusion for the poor via automobile ownership and building of financial credit

Global Mobility Service Inc. (
Private sector

    GMS provides FinTech services that enable financial inclusion for the 1.7 billion unbanked people around the world. With GMS's services, even those with low-income are able to use financial services such as loans to purchase vehicles, without the need of credit history (Please see "Enabling factors and constraints" for details). With their new vehicles that they gained, they can work as taxi or delivery drivers to earn money and improve their lives. Our technology also analyzes their work behavior as drivers, and builds financial credit so that they can gain access to further financial opportunities, such as education loans for their children.

    Implementation of the Project/Activity

    Before founding GMS, founder Nakashima founded an EV startup in the Philippines to promote electric vehicles as a solution to air pollution. However, there he was confronted with a social structure where many people have the ability to earn money as long as they have a car, but are denied the opportunity to take out loans because they lack assets and credit. Faced with this reality, Nakashima felt the need to create a social system where people who truly need a car to work can own a car, and founded the company in November 2013. We have localized the system to fit the needs of each country. For example, in the Philippines, we conducted thorough interviews with over 1,000 people to calculate how much income the drivers have and how much they can afford to pay. Prior to starting the business, we coordinated with various parties including local power distribution companies and telecommunication carriers as well as the support of the Philippine local government. However, we had a hard time convincing financial institutions and investors when we first started the business because it was a new service that had never been attempted before and because the target of the business was the poor. In particular, financial institutions were cautious about lending to low-income groups due to the risk of default, although they understood that expanding loan credit would lead to business expansion. The opportunity to recover from this situation was to demonstrate the effectiveness of the business model in the market. Fortunately, GMS was able to test its business model on its own by utilizing the investment from SBI Investment Co. We are now working with many financial institutions, automobile dealers, and local governments and are expanding our services in four countries.


    In the Philippines, 77% of the people do not have bank accounts, and 90% of tricycle drivers belong to the poorest segment of society. Most drivers had to operate their tricycle business by renting their bikes from owners for about 150 pesos (US $3) a day, or about 9,000 pesos a month. With GMS's services, a new tricycle can now be bought by taking out a loan with a monthly payment of 5,000 pesos, making it their own property. After successfully paying off the three-year loan as tricycle drivers, the data accumulated during that period has built their credit history, which has helped them purchase a second vehicle as four-wheel drivers, or take out a loan for their children’s education. We are currently operating in the Philippines, Cambodia, Indonesia, and Japan, and the total distance traveled by drivers using our service is about 200 million kilometers (about 5,000 laps of the Earth), with 10,000 units of service provided worldwide.

    Enabling factors and constraints

    In GMS's business model, a customer takes out a loan and is provided with a car equipped with our proprietary IoT device “Mobility-Cloud Connecting System” (MCCS) , which has remote control capability. Data regarding mileage, routes taken, operating time, etc. is stored in our “Mobility Service Platform” (MSPF). Loan payment status is linked to the MSPF and if payments are delayed, the system remotely deactivates the car engine, encouraging drivers to pay and greatly reducing default risks to financial institutions. MSPF also analyzes the accumulated data, evaluating hard work in order to build our customers' credit scores for further loans.

    Sustainability and replicability

    Our goal is to provide our FinTech services to those in need all over the world. In order to help as many people as possible, our vehicle start-up control IoT device (MCCS) can be installed in a wide variety of mobility devices, including automobiles, motorcycles, tricycles, construction machinery, agricultural machinery, and ships. We are also working on expanding the types of financing such as medical and housing loans, in addition to educational loans, from the new credit created by analyzing the data on drivers working behavior on MSPF. Furthermore, in addition to expanding our business in the countries where we are currently deployed, we are also working on demonstration experiments in other ASEAN countries, and are considering to expand our business to other areas, as we have received inquiries from India, Africa, and Latin America. Our strategy towards intellectual property enables our services to be realized around the world.

    Other sources of information

    Youtube Channel: https://www.youtube.com/channel/UC3B3xZzCLWsVqUMY1wUKptg/videos Article on Kawasaki's website: https://global.kawasaki.com/en/stories/articles/vol94/ Journal article by the International Association of Traffic and Safety Sciences (2018): https://drive.google.com/file/d/1Cx4sRaalUBPtpj0hvU_qrUgWYEGwKU8i/view?…

    COVID-19 Impact

    Due to the lockdowns in some areas, economic activities were restricted as drivers were unable to work, but we volunteered to help drivers overcome this crisis by providing them with food and other supplies. In Indonesia, we are participating with DENSO Corporation in a project led by the Indonesian Agency for Technology Evaluation and Application (BPPT) to disseminate 100,000 COVID-19 PCR test kits. The transportation of PCR test kits requires a strict low-temperature transportation environment of -20°C or lower, and delivery status control with accurate location information.The small-sized refrigerator trucks developed by combining the technological capabilities of GMS and DENSO have made it possible to deliver the kits to medical institutions and testing laboratories in Indonesia.

    No progress reports have been submitted. Please sign in and click here to submit one.
    This initiative does not yet fulfil the SMART criteria.
    25 November 2013 (start date)
    01 January 2050 (date of completion)
    Global Mobility Service Inc.
    Other beneficiaries

    Our efforts not only enrich low-income earners, but also help financial institutions and vehicle dealers to increase their number of customers. We also help improve environmental issues by encouraging the replacement of vehicles with lower environmental impact. Recognized for our contribution to the Philippines Clean Air Act of 1999 (Republic Act No. 8749), we have partnered with local governments in six cities in the Philippines. In this way, our service benefits various stakeholders.

    Contact Information