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Agent Banking: Future-proofing Investments with Mobile Solutions
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Agent Banking: Future-proofing Investments with Mobile Solutions

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Presentation given by Peter Ollikainen, head of product marketing for Mistral Mobile, at the AITEC Banking & Mobile Money COMESA event

Presentation given by Peter Ollikainen, head of product marketing for Mistral Mobile, at the AITEC Banking & Mobile Money COMESA event

Published in: Technology, Business

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  • 1. AGENT BANKING: FUTURE-PROOFING INVESTMENTS WITH MOBILE SOLUTIONS AITEC BANKING AND MOBILE MONEY COMESA 2013 PETER OLLIKAINEN SVP PRODUCT MARKETING SEPT 11, 2013
  • 2. MOBILE SOLUTIONS ENABLE BILLIONS OF PHONES TO BE AGENT (AND RETAILER) TOOLS Traditional approach • • Capital expenditure for POS terminals high Custom application development, deployment and maintenance on POS terminals expensive • Limited user interface • Connectivity limitations due to mobile data and internet requirements Mobile solutions  No need for HW investments on POS terminals  Full remote feature management to enable future-proofing with single deployment  Intuitive usage experience through natural workflows  No constraints on mobile data availability 2
  • 3. AGENTS CAN PERFORM ALL CUSTOMER SERVICING WITH THEIR MOBILE DEVICES  Account opening with KYC data capture (and biometric support)  Cash deposits and withdrawals  Bill payments  Payment of salaries  Local money transfers  Balance inquiries  Loan dispursements and repayments  Etc… 3
  • 4. Picture: Legos MOBILE GIVES FASTER TIME TO MARKET WITH LESS MAINTENANCE COSTS 4
  • 5. TIME TO MARKET DRAMATICALLY REDUCED WITH TO ENABLE REMOTE CONFIGURABILITY ANYONE WITH ANY TYPES OF MOBILE PHONE AND SERVICE George is an agent/retailer for the Bank and uses mobile solution for customer servicing …and publishes that to all their retailers and agents Retailers can now provide bill payment services Bank has given go-ahead to allow retailers to provide new services to the customers George now gets a note that there is an update Bank’s product manager is configuring the new features with the admin console… George is immediately able to start 5 offering bill payment services to his customers
  • 6. DEPLOY ONCE, MODIFY MOBILE FEATURES FULLY REMOTELY AND ALMOST INSTANTLY New products development timeframe: Mistral vs. Alternative solutions Total: Alternative Solutions 1 week 1 week 1 week 1 week Change Internal budgeting requested approval 3 weeks Scoping Coding with of new app app developer 2 weeks Testing 6 months 8 months All users have updated to the new version Initial distribution -98% Total: 1 day 2 hours Change PM defining prefunction in approval Mistral admin tool 3 days Pre-prod verification & testing 2 hours 4+ days Time-ToMarket Unlocked With the Mistral Mobile Distribution to all users 6
  • 7. IN-HOUSE CONFIGURATION OF FEATURES SIGNIFICANTLY REDUCES MAINTENANCE COSTS System lifetime costs: Mistral vs. Alternative solutions Development Savings Unlocked With Mistral Mobile ($) Additional functions: • Add Product • Add function • Revise function • New device platform • Most functions, considered as additional by other providers, already embedded in Mistral standard solutions • Security modifications Standard function Alternative Solutions Additional and standard functions Mistral Mobile • Mistral standard solutions allow you to add new products, new functions, new device platforms, revise a function and much, much more! • Very fast time to market for any new feature • Much lower cost 7
  • 8. Picture: Legos INTUITIVE USAGE EXPERIENCE THROUGH NATURAL WORKFLOWS 8
  • 9. NATURAL WORKFLOWS SUPPORTED BY GRAPHICAL INTERFACES REDUCE THE ERRORS AND SUPPORT CALLS Enhanced user experience Text-based UIs Vs. Graphical interface Very intuitive and seamless experience foster higher usage and less errors causing support calls Features updated instantly and automatically induce higher usage as they provide more servicing capabilities for the agents 9
  • 10. Picture: Legos EXPANDING THE SCALE 10
  • 11. AGENTS CAN ALWAYS TRANSACT, IRRESPECTIVE OF MOBILE OPERATOR AND MOBILE DATA AVAILABILITY Market Reach: Mistral vs. Alternative solutions (%) 100% No data subscriptio n or network available Single operator market share rarely >35% 1-30%1 1-35%1 Increased Scalability Unlocked With Mistral Mobile • Mistral solutions use any type of broadband connectivity to reduce SMS on user and client side Alternative Solution Single Mobile Operator Mistral Mobile (Data connection) (SIM or USSD) (any network, any subscription) • However, where no data connectivity is available, application automatically reverts back to SMS or voice connectivity • Hence, no transaction is lost through the versatile connectivity inducing higher revenues for the client and higher satisfaction for the end user 11
  • 12. EVOLVING THE AGENTS TO BECOME MERCHANTS AND ACCEPT PAYMENTS Leveraging the same mobile solution framework, agents can be upgraded to be paymentaccepting merchants This allows scaling the agent network to become a payment acceptance network and scaling up beyond traditional POS terminal –based payment acceptance 12
  • 13. Picture: Legos SUMMARY 13
  • 14. MOBILE SOLUTION CAN FUTURE-PROOF YOUR INVESTMENTS $ = Deploy once, add and modify features with remote configurability to add new revenue streams through agent and retailer services $ = Reduce maintenace cost through remote configurability $ = Increase the usage willingness and reduce support costs through intuitive user experiences based on natural workflows $ = Scale your reach – network reach and expanding the services scope 14
  • 15. THANK YOU! …AND WATCH OUR VIDEO WWW.VIMEO.COM/MISTRALMOBILE/MONEYMOBILITYSUITE PETER.OLLIKAINEN@MISTRALMOBILE.COM TEL +358-50-4872668 WWW.MISTRALMOBILE.COM TWITTER @MISTRALMOBILE

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