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Mobile Phone Banking


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Mobile Phone Banking

  1. 1. Expanding Mobile Money Market September 13, 2011 RBAP Conference Room RBAP Building Intramuros, Manila
  2. 2. Mobile Phone Banking Services Text-A-Remittance (Cash-in/ Cash-out) Text-A-Withdrawal (debit system) Text-A-Payment (loan collection) Text-A-Deposit Text-A-Sweldo Text-A-Credit Text-A-Bills Payment System Automation
  3. 3. Transactions clients can do without leaving their businesses “ Text-A-Payment” Loan Collection “ Text-A-Deposit” (Deposit Taking Service) Bills Payment -------------------- Money Transfer (Remittance) “ Text-a-Withdrawal” ----------------------------- “ Text-A-Credit” Savings Withdrawal Loan Disbursement Pay Bills Deposit Money Loan Payment
  4. 4. Payroll Services “ Text-a-Sweldo” Payroll Offer Payroll services to staff and and business clients WIRE
  5. 5. Text-A-Withdrawal Text-A-Payment Text-A-Deposit Facilitating Mobile Commerce for Micro and Small Businesses Text-A-Credit
  6. 6. Expanding Mobile Money Market Product Matrix
  7. 7. Potential Segment 1: Rural households seeking practical financial solutions Potential Group Description Customer Need Relevant Products Benefits Positioning/ Strategy 1. Out-of-town workers <ul><li>Rural household with bread winner working in a major city </li></ul><ul><li>Remit money regularly from major city to family located in rural area </li></ul><ul><li>Text-a-deposit </li></ul><ul><li>Text-a-remittance </li></ul><ul><li>Cheapest ways to send cash home, especially for those with deposit account </li></ul><ul><li>“ Send hard-earned money safely to your family bank ” </li></ul><ul><li>Increase GCash registration with help from GCash </li></ul>2. Family with dependents out-of-town <ul><li>Rural household with dependents in other towns and need to send cash to them regularly </li></ul><ul><li>Remit money regularly from home town to location of dependents </li></ul><ul><li>Text-a-remittance </li></ul><ul><li>Cheapest and fast means to send cash from home town </li></ul><ul><li>“ Affordable and fast cash transfer ” </li></ul><ul><li>Promote product during GCash registrations </li></ul>3. Clients of utility companies <ul><li>Households in rural areas who miss infrequent collector visits, or who can ’ t spend half day in queue at local covered courts to pay utility bills </li></ul><ul><li>Flexibility in paying bills </li></ul><ul><li>Convenience </li></ul><ul><li>Text-a-bill pmt </li></ul><ul><li>Avoid service disconnection if they miss collector visit </li></ul><ul><li>Avoid hassle of waiting for half day in quiue </li></ul><ul><li>Pay on client ’ s time of choosing </li></ul><ul><li>“ Pay bills conveniently ” </li></ul><ul><li>Arrangement with stakeholders to create value </li></ul>
  8. 8. Potential Segment 2: Customer groups in under-banked regions Potential Group Description Customer Need Relevant Products Benefits Positioning/ Strategy 4. Households in towns with limited bank presence <ul><li>Households in rural regions where bank offices are extremely limited </li></ul><ul><li>Regions with Globe signal and CICOs </li></ul><ul><li>Basic financial services </li></ul><ul><li>Text-a-remittance </li></ul><ul><li>Text-a-deposit </li></ul><ul><li>Text-a-Pmt </li></ul><ul><li>Text-a-Bill Pmt </li></ul><ul><li>Text-a-wthdrwl </li></ul><ul><li>Text-a-credit </li></ul><ul><li>Avoid paying high transportation cost to reach banks in far-away places </li></ul><ul><li>“ Banking solutions to every household ” </li></ul><ul><li>Expand client reach of Cantilan, PR and 1 st Valley banks </li></ul>5a.Companies with large head count <ul><li>Companies with many employees in its payroll, which makes manual salary distribution costly and risky </li></ul><ul><li>Employers need to disburse salary in an efficient way </li></ul><ul><li>Employees need to receive salary on time with least possible transaction cost </li></ul><ul><li>Text-a-Sweldo </li></ul><ul><li>Companies release salary in most practical way with high security </li></ul><ul><li>Employees receive salary on time </li></ul><ul><li>“ Cost-effective and safe payroll solution ” </li></ul><ul><li>Encourage Cantilan, PR and 1 st Valley to sign-up more companies </li></ul>5b. Employees receiving Text-a-Sweldo <ul><li>Employees of large-headcount corporations located in under-banked regions </li></ul><ul><li>Spend salary in the most cost-effective way given the form of salary received from employer </li></ul><ul><li>Text-a-remittance </li></ul><ul><li>Text-a-deposit </li></ul><ul><li>Text-a-Pmt </li></ul><ul><li>Text-a-Bill Pmt </li></ul><ul><li>Financial services become affordable with GCash already available without cash-in fee </li></ul><ul><li>“ Harness the benefits of GCash ” </li></ul><ul><li>Encourage banks to cross-sell mobile banking products </li></ul>
  9. 9. Potential Segment 3: Businesses that can benefit from mobile banking Potential Group Description Customer Need Relevant Products Benefits Positioning/ Strategy 6a. Merchants accepting GCash <ul><li>Wholesalers, grocery stores, sari-sari stores that receive sales proceeds in GCash </li></ul><ul><li>Unload excess GCash from their wallets before they reach wallet size limit </li></ul><ul><li>Text-a-deposit </li></ul><ul><li>Text-a-Pmt </li></ul><ul><li>Text-a-Bill Pmt </li></ul><ul><li>Deposit sales proceeds cost-effectively </li></ul><ul><li>Pay bills or loan conveniently and cheaply </li></ul><ul><li>“ Deposit daily sales without leaving the store ” </li></ul><ul><li>Sign-up more merchants with GCash </li></ul>6b. CICO Outlets <ul><li>Globe Cash-In Cash-Out outlets supporting GCash </li></ul><ul><li>Manage wallet size to meet customer demand for Gcash </li></ul><ul><li>Text-a-Deposit </li></ul><ul><li>Text-a-Credit </li></ul><ul><li>Text-a-Pmt </li></ul><ul><li>Text-a-Bill Pmt </li></ul><ul><li>Unload excess GCash during heavy cash-outs </li></ul><ul><li>Receive loans without paying cash-out fee </li></ul><ul><li>“ Manage GCash wallet through mobile banking ” </li></ul><ul><li>Sign-up CICOs with GCash </li></ul>6c. Globe Autoload Max resellers <ul><li>Resellers of Globe airtime through Autoload Max </li></ul><ul><li>Meet heavy customer demand effectively </li></ul><ul><li>Text-a-Withdrwl </li></ul><ul><li>Text-a-Credit </li></ul><ul><li>Text-a-Pmt </li></ul><ul><li>Reseller meets unexpected demand volume </li></ul><ul><li>GCash converts to load efficiently </li></ul><ul><li>“ All clients served ” </li></ul><ul><li>Sign-up Globe resellers to GCash </li></ul>7. Microcredit borrowers in good standing <ul><li>Repeat micro-credit borrowers with good track record of debt repayment </li></ul><ul><li>Savings in loan servicing fee </li></ul><ul><li>Text-a-Pmt </li></ul><ul><li>For borrower, reduction in interest rate </li></ul><ul><li>For bank, increase in business volume </li></ul><ul><li>“ Better financng deal through GCash ” </li></ul><ul><li>Offer product to good micro borrowers </li></ul>
  10. 10. MYCLICK ’S SMS SOLUTIONS Customer Relationship Management (CRM) for Rural Banks using SMS
  11. 11. Deposit Related SMS Service <ul><li>ACCOUNT OPENING </li></ul><ul><ul><li>Welcome SMS for newly opened accounts </li></ul></ul><ul><li>TIME/SPECIAL SAVINGS DEPOSITS </li></ul><ul><ul><li>Reminder for Maturing TDs </li></ul></ul><ul><ul><li>Roll over SMS on the day of maturity </li></ul></ul><ul><li>CURRENT/DEMAND DEPOSITS </li></ul><ul><ul><li>Reminder to cover insufficient funds </li></ul></ul><ul><ul><li>SMS for returned checks (client) </li></ul></ul><ul><ul><li>SMS for returned checks deposited to the client accounts </li></ul></ul>
  12. 12. Loan Related SMS Service <ul><li>ACCOUNT OPENING </li></ul><ul><ul><li>Welcome SMS when banks received loan application </li></ul></ul><ul><li>LOAN APPLICATION </li></ul><ul><ul><li>Thank you SMS for applying loan </li></ul></ul><ul><ul><li>Loan status inquiry (client initiated) </li></ul></ul><ul><ul><li>Loan approval status (positive) </li></ul></ul><ul><ul><li>Loan approval status (negative) </li></ul></ul><ul><li>LOANS MONITORING </li></ul><ul><ul><li>Repayment reminders (positive) </li></ul></ul><ul><ul><li>Missed payment reminders (negative) </li></ul></ul><ul><ul><li>Maturing loan reminders (+/-) </li></ul></ul><ul><ul><li>Thank you SMS for fully payment of loans </li></ul></ul>
  13. 13. Non-Financial Services Provided via SMS <ul><li>PERSONALIZED REMINDERS </li></ul><ul><ul><li>Birthday </li></ul></ul><ul><ul><li>Anniversary </li></ul></ul><ul><ul><li>Congratulatory </li></ul></ul><ul><ul><li>Bereavement </li></ul></ul><ul><li>NON-PERSONALIZED REMINDERS </li></ul><ul><ul><li>New products and services </li></ul></ul><ul><ul><li>New branch and OBOs announcements </li></ul></ul><ul><ul><li>Bank activities e.g anniversaries, events, marketing blitz </li></ul></ul><ul><li>OTHERS </li></ul><ul><ul><li>Holiday reminders </li></ul></ul><ul><ul><li>RBAP and other related announcements </li></ul></ul>
  14. 14. <ul><li>Plans & Future Developments </li></ul><ul><li>Support Financial Education for mobile phone banking. </li></ul><ul><li>Incentive programs to drive active usage of mobile phone banking services. </li></ul><ul><li>Continue support and promotion of SMS Alerts service for rural banks. </li></ul><ul><li>Provide technical support to rural banks in their application as electronic money issuer (EMI). </li></ul><ul><li>Recent Circulars in 2010: </li></ul><ul><li>c649 </li></ul><ul><ul><li>Allows banks to become EMIs (Electronic Money Issuer) </li></ul></ul><ul><li>c704 </li></ul><ul><li>Guidelnes in outsourcing services by EMIs to EMNSPs (Electronic Money Network Service Providers) </li></ul>
  15. 15. Thank You 