Initiatives Designing for your Mobile Money - FNB
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Initiatives Designing for your Mobile Money - FNB

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Yolande van Wyk (FNB) discusses initiatives designing for your mobile money

Yolande van Wyk (FNB) discusses initiatives designing for your mobile money

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Initiatives Designing for your Mobile Money - FNB Initiatives Designing for your Mobile Money - FNB Presentation Transcript

  • Designing for your Mobile Money Initiative Prepared by Yolande Van Wyk
  • WHAT IS MOBILITY?
  • The first is the ability to use a wireless phone or other mobile device to conduct financial transactions and exchange payments over the Internet. The second is the ability to deliver information that can facilitate a transaction. Mobile commerce consists of two primary components.
  • FOR TODAY Using mobile initiatives to provide access to your core services and systems Anywhere Anytime
  • MOBILE TECHNOLOGIES
  • THE MOBILE PHONE SMS USSD Voice IP
  • THE TECHNOLOGIES HSCSD/GPRS/3G/4G IP Productivity PBX/VOIP Databases Valuations Etc Etc
  • CONNECTING TO THE NETWORK WASP SMS USSD MMS API
  • CONNECTING TO THE NETWORK SMS USSD MMS
  • SOME ATTRIBUTES Technology Attribute SMS Store & Forward Need connection to each MNO Generally SMPP Can get costly at high volumes USSD Session based Session limits imposed by MNO 20c per 20 seconds for user SOAP/XML type interfaces MMS Pricey Similar to email Vendor specific IP based services Huge growth area .mobi Applications Removes dependance from MNO
  • Mobile Market, Agreements & Trends
  • Emerging Market Segments
  • Financial Institutions e Wallet MNO’s Unbanked population
  • MNO’s Banked/Unbanked Market e Wallets P2P Remittance Pioneers of the first mobile money initiatives Systems, Credibility, Trust amongst The customers Financial Institutions Pre-Paid Micro Insurance Micro Finance First offering to the market Agreement
  • Mobile Initiatives in Banking
  • Mobile as a channel Mobile as wallet
  • Person to person payments Merchant payments Content Account information Airtime transfer Mobile phone account Bank Account/ card eWallet Mobile banking
  •  
  • Unbanked Bank account MNO as enabler OUT IN IN Channel Value store OUT Channel Bank channels Formal agents Informal agents Bank channels Agents Retailers Virtual services
  • Mobile Initiatives at FNB
  • THE GOAL
      • Reduce the average cost per transaction:
        • Innovative application of technology
        • Cost efficiency
        • Re-use of technology
        • Reduce the face-to-face as much as possible
        • Development of alternative electronic channels
        • Provide more customer options
  • FNB’S MOBILE SERVICES 2002 2005 2008 2008 2009 2010 2007
  • FNB CELLPHONE BANKING
      • Multi-bearer
      • Any phone, anytime, anywhere
      • Full transactional banking
  • INCONTACT www.fnb.co.za *120*321#
  • CELLPHONE BANKING MO SMS USSD-1 USSD-2 *120*321# fnb.mobi fnb.exe application
  • CELL PAY POINT
  • CELLPHONE BANKING BASE
  • CELLPHONE BANKING GROWTH
  • BRINGING OUR OWN COSTS DOWN
  • BENEFITS
      • Cellphone Banking is a low cost channel to the bank
      • Cheaper for customers
      • Reduces queue times at ATMs and branches
      • Services like InContact reduces service calls at branches and call centres.
  • QUICK FACTS
      • In December 2010, FNB sent 79 million SMSs (approximately 2.5 million SMSs per day)
      • In December 2010, FNB recorded 2.6 million customers
      • In December 2010, FNB processed in excess of 15 million transactions
      • In December 2010, FNB processed transactions worth R1.7 billion through Cellphone Banking
      • In December 2010, the FNB.MOBI site attracted more than 250 000 visits .
  • THE WORLD OF EWALLET Cardless Transactions
  • FNB EWALLET
      • Send from any FNB account:
        • Online banking
        • Cellphone banking
        • ATM
      • Recipient can:
        • Cash at ATM (no card)
        • Buy airtime
        • Send to someone else
        • Buy from 35 online merchants
  • PAY WALLET Pay Wallet allows FNB Corporate, Commercial and Public Sector customers to pay anyone electronically, without the recipient requiring a bank account.
      • Single source
      • Multiple recipients
      • Personal information captured & stored
      • Pay to phone or card
    Cardless cash out
  • AFRICA REACH Cellphone Banking InContact eWallet PayWallet Cellphone Banking InContact Cellphone Banking InContact InContact Cellphone Banking Cellphone Banking InContact InContact Cellphone Banking
  • EWALLET GROWTH
  • QUICK FACTS eWallet services was launched in October 2009. As at April 2011 close to 523 108 eWallets had been created. In April 2011 alone, more than R69,000,000 was sent to cellphones with FNB eWallet
  • THE WORLD IS MOBILE
      • 6.8 Billion is the world population
      • 1.9 Billion Internet subscribers
      • 5 Billion Cellphone subscribers
    • Source:
    • Internet world statistics
    • c
  • THANK YOU Questions?