Mobile Banking & Remittance Services


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Mobile Banking & Remittance Services

  1. 1. Mobile Banking & Remittance Services
  2. 2. Introduction <ul><li>DG Infotech is a Infocom solution Provider Company, offering a wide range of leading edge technology solutions like: </li></ul><ul><ul><li>Mobile e-payment platforms </li></ul></ul><ul><ul><li>Core banking mobility enabler platforms </li></ul></ul><ul><ul><li>Financial Business Intelligence Solutions </li></ul></ul><ul><li>Innovation in analyzing, designing, developing and Mobile e-payments domain understanding enables us to build products that solve some of the most vexing problems challenging businesses around the globe. </li></ul>
  3. 3. Mobility Features <ul><li>Enables Service from any mobility device in a Service area. </li></ul><ul><li>Secure and Scalable remittance service using Mobile Interface. </li></ul><ul><li>Data Capture can be either Online or Offline using Mobile Technology. </li></ul><ul><li>Cost Effective with most economical “Service of Cost” for remitting global money. </li></ul><ul><li>Reliable service with Flexible features ensuring multimodal end-delivery channels like Mobile “POS” or Mobile Handset. </li></ul>
  4. 4. Mobile Remittance Service <ul><li>Infusion </li></ul><ul><li>e-debit from bank </li></ul><ul><li>Multi System Identity </li></ul><ul><li>Mobile SMS instruction </li></ul><ul><li>Mobile IVR Instructions </li></ul><ul><li>Mobile e-topup / Flexi load </li></ul><ul><li>Success/Failure Status Messages </li></ul><ul><li>Delivery </li></ul><ul><li>Multimodal Delivery </li></ul><ul><li>Non-literacy intensive </li></ul><ul><li>At Doorstep rural delivery </li></ul><ul><li>Branchless e-banking capable </li></ul><ul><li>Cash, e-credit & Flexi Load options </li></ul><ul><li>Instant Service & Status Notifications </li></ul><ul><li>Interactive Services Delivery Payments </li></ul>
  5. 5. Mobile e-Payments Scenario for Remittance
  6. 6. Mobile Remittance Cycle, example BENEFICIARY Receiving Bank <ul><li>Check sender bank account to ensure sufficient fund </li></ul><ul><li>Upon confirmation DG e-Pay generates secret code instantly if sufficient fund at Senders Bank </li></ul>4a Send success notification and secret code to Sender <ul><li>Sender sms secret code to beneficiary </li></ul><ul><li>Beneficiary present secret code and Personal ID to Disbursing Bank </li></ul><ul><li>Disbursing Bank enquire transaction through DG e-Pay Software </li></ul><ul><li>DG e-Pay software provide name, ID and amount if the transaction is found </li></ul><ul><li>Bank update status in Dg e-Pay Software </li></ul><ul><li>Bank disburse Cash to beneficiary INSTANTLY </li></ul>SENDER Transit Account DG e-Pay Sender Bank A/C 4b Deduct from sender bank a/c via direct debit arrangement with banks Receiving Bank’s Account NOSTRO / VOSTRO 10. No cash handling by DG e-Pay. Involves only e-money transfer from Bank-to-Bank accounts. <ul><li>Sender </li></ul><ul><li>sends MOBILE </li></ul><ul><li>request </li></ul><ul><li>to DG e-Pay to remit an amount to a beneficiary via GPRS </li></ul><ul><li>from his </li></ul><ul><li>Bank a/c </li></ul><ul><li>in UAE. </li></ul>
  7. 7. Statutory Compliance Notification Statutory Compliance Notification 1. Request for Registration 2. Registration Confirmation 3. Send Request to Remit 7a. Send remittance particulars to respective Branch through Online/Advice 7b. Send notification to beneficiary via SMS WEB 7c. Success Notification to JBUAE 4. Inquiry of Sufficient Fund 5a. Request terminated due to insufficient fund 5b.Send Advice to remit 6. Based on Sufficient fund in A/C, JB UAE Send a massage/mail to JBBDHO WEB 9. Beneficiary Collect Money From the Bank 8. Success Notification to Remitter WEB WEB WEB EFT Mobile Interface IPG EFT Mobile Interface IPG Remitter Beneficiary JB UAE OBUAE JBBDLB JBBDHO Central Bank of BD SMSC SMSC Central Bank of UAE
  8. 8. Janata Bank, Bangladesh Sample Remittance Smart Card
  9. 9. Mobile e-payment Application : Remittance Work Flow Sample <ul><li>Step 1 : Remitter will register with the system (DG e-platform) with the required information. </li></ul><ul><ul><li>Name: </li></ul></ul><ul><ul><li>Local Address: </li></ul></ul><ul><ul><li>ID: </li></ul></ul><ul><ul><li>Passport Number: </li></ul></ul><ul><ul><li>Mobile Number: </li></ul></ul><ul><ul><li>Account Number: </li></ul></ul><ul><ul><li>Name of the Bank & Branch: </li></ul></ul><ul><li>Step 2 : Registration confirmation along with a 4 digit Personal Identification Number. </li></ul><ul><li>Step 3 : Remitter send request to respective bank through DG Platform to remit amount to the beneficiary. </li></ul><ul><li>Message Format: </li></ul><ul><li>PIN_AMOUNT_BENEFICIARY NAME_MOBILE NO_A/C NO_BANK_BRANCH_DISTRICT </li></ul><ul><li>3545_$1000_RAFIQUl ISALAM_01710000000_10111065XXX_JB_DHANMONDI_DHK </li></ul>
  10. 10. Work Flow Sample ……. <ul><li>Step 4 : Bank will check if there is sufficient fund or not. </li></ul><ul><li>Step 5a : Due to in sufficient fund the remitter receive a failure notification through DG e-pay. </li></ul><ul><li>Step 5b : Send massage/advice to JB for remittance (if other bank) </li></ul><ul><li>Step 6 : Availability of sufficient fund, JBUAE send remittance massage /mail to JBBDHO </li></ul><ul><li>Step 7a : JBBDHO receive the massage and send remittance particulars to the respective branch through Online/Advice. </li></ul><ul><li>Step 7b : JBBDHO send notification to the beneficiary’s mobile number through SMS. </li></ul><ul><li>Step 7c : JBBDHO send a success notification to JBUAE. </li></ul><ul><li>Step 8 : DG e-pay send success notification to the remitter. (optional) </li></ul><ul><li>Step 9: Beneficiary collect money from the Bank Branch. </li></ul>
  11. 11. Current Process for Remittance Instruction <ul><li>Worker visit bank ATM, cash out money. </li></ul><ul><li>Worker keeps the money and wait for the right time to visit the remittance houses or banks to remit money. </li></ul><ul><li>Costly, risky, and time consuming. </li></ul><ul><li>Workers working in remote areas are bound to send their money through grey-channel. </li></ul>
  12. 12. Benefits <ul><li>Reduction in the cost of transactions. </li></ul><ul><li>No cash handling risk for workers/customers. </li></ul><ul><li>All Transaction in e-payments from Bank-to-Bank Accounts. </li></ul><ul><li>Worker can send instruction via Mobile Phone through DG e-Pay Platform. </li></ul><ul><li>Works Directly from Worker’s Bank Account, via direct Mobile Initiated debit process approved by banks. </li></ul>
  13. 13. Benefits (Contd.) <ul><li>Service provided at a doorstep/ village levels </li></ul><ul><li>Ability to handle large volumes with very less staff </li></ul><ul><li>Reduces the pressure on the counters at rural branches </li></ul><ul><li>Availability of Basic Banking Services throughout the day </li></ul><ul><li>Hassle free for the villagers as there are no challans / vouchers </li></ul>
  14. 14. Mobile e-payment’s for a Bank BANK E Wallet Debit Credit Pay Bill / Buy reloads Remittance Transfer to Bank account Pay to another e Wallet Buy products (M-commerce) Pay merchants POS / Handset