In this interview with Bill Gates and Bill Clinton, they discuss their work with Digicel, who I assume is this company, to enable mobile banking with normal KYC protections.
This site is full of exploits for SMS phones, and so I can't conceive of it being secure enough to handle banking transactions... yet it seems to be working with a number of people.
How can SMS banking possibly be used for finance when there are so many security issues with the technology?
Am I simply overestimating an adversary's competence and power?
Or am I overlooking mitigations that would put the odds on my side?