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EastNets en.MoRe - Mobile Remittance Solution


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The new en.MoRe mobile remittances solution from EastNets is designed to enable cross-border person-to-person mobile initiated payments. It interconnects global Mobile Network Operators (MNOs) and banks over en.MoRe’s unique platform using SWIFT worker remittances standards
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EastNets en.MoRe - Mobile Remittance Solution

  1. 1. Mobile RemittancesSecure, Compliant Mobile Money Transfer ®
  2. 2. With over 1.3 billion people living outside their country ofbirth, the remittance industry is witnessing an increasedturnover reaching $400 billion annually. The total revenue ishitting the boarders of $15 billion and increasing.Banks are noticing the increasing demand for new innovativeand customer oriented services. The Mobile Money transfer is en.MoRe Key Benefitsamongst their top priorities • Enables convenient and fast mobileIntroducing en.MoRe remittancesEastNets innovative Mobile Remittance solution (en.MoRe) • Secure and reliableprovides telecommunication services providers with means to • Flexible service frameworkconnect to the financial network, allowing easy to integrate, • Scalablefast, reliable and secure communication that allow mobile • Robust and transparentsubscribers to remit monies over SWIFT network. • Global reach to over 9000 banks on SWIFT • Fast go-to-market plan • Ready to use solution for MNO’s and Banksen.MoRe provides a unique solution for mobile network • Straightforward integrationoperators by managing the remittance life cycle andconnecting their customers to the financial institutions in thereceiving corridors.en.MoRe provides an easy and straight forward customerexperience that complies with regulatory requirements.en.MoRe business processes satisfies the KYC, AML andfinancial regulations, yet is an easy to use service.
  3. 3. en.MoRe: Unique in the MarketplaceMobile money transfer is becoming one of the important trends in • Regulatory compliance: en.MoRe capitalize the extensivefinancial industry. en.MoRe is a unique solution that addresses the experience of EastNets in the anti-money laundry (AML), countergrowing demand for financial services from the mobile operators terrorism financing (CTF). en.MoRe complies with the local andside, and complies with international banking regulations. en.MoRe international cross boarder money the connection between the two worlds where the customersbenefit from a convenient, accessible and affordable solution to remit • Standards: en.MoRe is using an internationally recognizedmonies to developing worlds. standards to transform payment requests initiated by the MNO subscribers into a cash payment request on the other side of the • Security: en.MoRe provides non-repudiation and secure world. Both banks and mobile network operators will be using mobile payment transactions from any MNO to any partner bank an internationally recognized standards to connect into this on the en.MoRe network. With this capability, en.MoRe enables platform. secure cross border transactions by millions of mobile users across the globe. • Easy to integrate: en.MoRe offers a first-of-its-kind platform to interconnect global MNOs and hubs to a financial community of more than 9,000 banks over the SWIFT network.
  4. 4. How Does en.MoRe Work?The Remittance Flow Financial Settlement, Information and Reconciliation Process • The transaction of mobile remittance starts by sending a • en.MoRe provides mobile remittance transactions and command from the subscriber handset to the MNO network, reconciliation reports to the MNOs and the global settlement where the customer details are verified. The verification bank for daily financial settlement. process includes the balance, customer information, service • MNOs, via their local banks, pay daily settlement amounts to subscription and so on. the global settlement bank. • Upon successful validation the MNO routes the payment • The global settlement bank pays the receiving bank. request information to the en.MoRe platform. • The en.MoRe platform validates the transaction details, prepares and transforms the payment instruction into a financial payment request. A set of AML, KYC and compliance rules apply to the transaction to invalidate any suspicious or malicious activities • The bank receives and processes the payment request • For the beneficiary to collect their transaction, another KYC validates the receiver.About EastNetsEastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries.Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporates around the globe. EastNets providesCompliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicatedetection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile RemittancesSolutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting,implementation services, training and maintenance to help clients protect, manage and improve their SWIFT environment.en.MoReUnited States Patent and TradeMark Office Provisional Patent Application No:US 61/282,761 date : 03/26/2010Mobile Payment System and MethodForeign Filing License granted 04/12/ V 09/11