- Mobile banking is growing rapidly and is especially popular among customers aged 30-60.
- Nearly half of smartphone owners have not used mobile banking, representing an opportunity for banks to attract new customers.
- Mobile banking reduces banks' costs and improves profitability by lowering transaction costs and reducing customer attrition rates.
Segment-Based Strategies for Mobile BankingCognizant
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Next Generation Mobile Banking and Return on Investmentmistervandam
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Retail Banking India 2015 - Now and PredictionsMayur Nanotkar
The document highlights
- the Retail Banking Industry in India using the stats
- future predictions for the retail banks in India in terms of Technological advancement and Customer Engagement
- Top 10 Predictions from the World of Retail Banking.
Segment-Based Strategies for Mobile BankingCognizant
While retail banks have widely accepted mobile banking as a primary service channel, they can now apply customer segmentation tactics to develop mobile strategies, optimize customer retention and acquisition, and increase the adoption of mobile services.
Next Generation Mobile Banking and Return on Investmentmistervandam
Fiserv white paper on how the advancement of mobile banking - particularly next generation features and functionality - are driving return on investment for financial institutions
Retail Banking India 2015 - Now and PredictionsMayur Nanotkar
The document highlights
- the Retail Banking Industry in India using the stats
- future predictions for the retail banks in India in terms of Technological advancement and Customer Engagement
- Top 10 Predictions from the World of Retail Banking.
Mobile is a Marathon - Fiserv White Papermistervandam
The mobile channel is here to stay, and enabling compelling mobile financial services requires discipline, planning, preparation and a sustained investment of both time and energy, much like training for a marathon.
Principles and Practices of Banking Module 5ARUNKUMAR7358
Banking Technology
Concept of universal banking
Home banking
ATM’s
Internet banking
Mobile banking
Core banking solutions
Debit, credit and smart cards
Electronic payment system
MICR
Cheque truncation
ECS
EFT
NEFT
RTGS
Books referred - Dr.Nirmala Prasad, K. Chandrasass j (Banking and financial system)& Mithani, Gordan (Banking and financial systems)
Our Whitepaper on mobile banking solutions discusses the changing landscape of mbanking. It also discusses key challenges and drivers in mobile banking and how mobile banking apps can help banks optimize their resources and increase efficiency.
Case study: Transforming FE Credit's lending processes with robo-lendingVarun Mittal
FE Credit, one of Vietnam’s oldest and the largest consumer credit company, worked with EY and several FinTech partners to implement a robo-lending platform app, suitably named as $NAP, which digitizes the whole process of customer on-boarding, loan application, know-your-customer (KYC), credit underwriting, loan approval and disbursement.1
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India is racing ahead with its mobile phone subscriptions. It is the second largest smartphone market in the world. Given the rapid growth in mobile phone penetration, it is a logical step forward to ensure payments are done via connected devices. There is a surge in payment platforms in the country. Is this growth sustainable? Learn more in this visual presentation.
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DBS Bank‘s internationalization strategy is built on the cornerstone of a customer-centric digital platform which goes beyond banking by focusing on the customer’s lifestyle and evolving needs. EY has been a proud collaborator to DBS in this journey, advising on the formulation of strategy for Indonesia.
Mobile is a Marathon - Fiserv White Papermistervandam
The mobile channel is here to stay, and enabling compelling mobile financial services requires discipline, planning, preparation and a sustained investment of both time and energy, much like training for a marathon.
Principles and Practices of Banking Module 5ARUNKUMAR7358
Banking Technology
Concept of universal banking
Home banking
ATM’s
Internet banking
Mobile banking
Core banking solutions
Debit, credit and smart cards
Electronic payment system
MICR
Cheque truncation
ECS
EFT
NEFT
RTGS
Books referred - Dr.Nirmala Prasad, K. Chandrasass j (Banking and financial system)& Mithani, Gordan (Banking and financial systems)
Our Whitepaper on mobile banking solutions discusses the changing landscape of mbanking. It also discusses key challenges and drivers in mobile banking and how mobile banking apps can help banks optimize their resources and increase efficiency.
Case study: Transforming FE Credit's lending processes with robo-lendingVarun Mittal
FE Credit, one of Vietnam’s oldest and the largest consumer credit company, worked with EY and several FinTech partners to implement a robo-lending platform app, suitably named as $NAP, which digitizes the whole process of customer on-boarding, loan application, know-your-customer (KYC), credit underwriting, loan approval and disbursement.1
As a result, FE Credit reduced the borrowing process from 4-5 days to less than 15 minutes, thus drastically increasing its appeal to customers, while overcoming the challenges inherent in the traditional lending model.
Digital Banking for PSU banks in IndiaRohan Bharaj
This documents highlights the importance of Digital banking for PSU banks in India. In this digitally enhanced age, it is of utmost importance for PSU banks to be up to date with the latest technology.
Are Payment Platforms Poised for Growth in India?ICFAIEDGE
India is racing ahead with its mobile phone subscriptions. It is the second largest smartphone market in the world. Given the rapid growth in mobile phone penetration, it is a logical step forward to ensure payments are done via connected devices. There is a surge in payment platforms in the country. Is this growth sustainable? Learn more in this visual presentation.
Case study: DBS's digitalization in Southeast AsiaVarun Mittal
DBS Bank‘s internationalization strategy is built on the cornerstone of a customer-centric digital platform which goes beyond banking by focusing on the customer’s lifestyle and evolving needs. EY has been a proud collaborator to DBS in this journey, advising on the formulation of strategy for Indonesia.
Online Banking Management System – Its Scope and the Technology Used.Techugo
The banking system allows banks to keep track of a few records. Therefore, a bank management software program is needed to simplify the process. For example, maintaining currency and international values is part of the job. Online Bank management systems must also act as currency distributors and serve the nation’s welfare.
This is an assignment on the topics named Mobile Banking. This assignment contain's the valuable description based on the mobile banking sector of Bangladesh.
The presentation outlines the factors that influence the financial behaviour of the poor across different regions. The presentation also discusses third generation MFIs and usage of No-frills accounts. The topic of e/m-banking is also covered at the end.
2. elbarid.comelbank.me
Mobile Banking is quickly being adopted by banks’ most lucrative customers
Adoption of mobile banking, is growing across all age demographics. Customers with the highest level of
sophistication are mobile banking’s likeliest adopters.
1 Mobile Banking Overview
Usage of Different Means of Accessing Banking Services
(2011-2014)(1)
Use of Mobile Banking by age (LTM)(1)(2)
1. Source: Board of Governors of the United States Federal Reserve. Consumers and Mobile Financial Services. March 2015.
2. Percentages are of those in each group who have a mobile phone and a bank account.
Summary
§ Mobile banking is the fastest growing method of interacting with banks
§ Retaining and growing the banks’ mostlucrative customers is critical to banks’ profitability
§ Customers aged 30-60 are the fastest growing adopters of mobile banking services
§ Young and middle aged adults are customers with the highest disposable income and level of sophistication
17%
CAGR
28%
CAGR
2011 2012 2013 2014
33%
65%
20%
85%
74%
34%
67%
26%
82%
75%
33%
72%
30%
87%
75%
33%
74%
35%
Bank
Branch
ATM Telephone
Banking
Online
(Web)
Banking
Mobile
Banking
15%
CAGR
45%
29%
12%
5%
54%
37%
21%
10%
63%
43%
25%
9%
60%
54%
32%
12%
18-29 30-44 45-59 60+
2011 2012 2013 2014
3. elbarid.comelbank.me
There is plenty of opportunity for growth and more reason than ever to implement a mobile
banking platform
Have used
Mobile
Banking
52%
Have not
used Mobile
Banking
48%
% of Smartphone Owners who have used
Mobile Banking (LTM)(1)
6%
12%
20%
32%
34%
39%
62%
73%
86%
My bank charges a fee for using mobile
banking
I don't do the banking in my household
It's too difficult to use mobile banking
I don't have a smartphone
I don't trust the technology
The mobile phone screen is too small
I'm concerned about the security of mobile
banking
I don't see any reason to use mobile
banking
My banking needs are being met without
mobile banking
Top Reasons why Customers do not use Mobile
Banking(1)(2)
“Please tell us for each of the reasons below why you do not
use mobile banking”
1. Source: Board of Governors of the United States Federal Reserve. Consumers and Mobile Financial Services. March 2015
2. Total number of respondents is 945
§ Nearly half of smartphone users have never used mobile banking
§ These customers are potential targets that can be attracted by a competing bank’s offerings
§ The vast majority of smartphone users that are not using mobile banking services are not aware of the service’s benefits
and convenience
Summary
2 Mobile Banking Overview
Despite its rapid deployment, many customers are unaware of the benefits and convenience of mobile banking.
These customers present an opportunity for banks to expand their customer base.
4. elbarid.comelbank.me
100%
30% 30%
5% 2%
In person at a
physical
branch
By phoning a
call center
ATM Online (Web)
Banking
Mobile
Banking
Mobile Banking reduces banks’ operating costs and reduces customer attrition
3 Mobile Banking Overview
1. Source: KPMG. Mobile Banking 2015. p. 22
2. Source: FiServ. Mobile Banking Adoption: Where is the Revenue for Financial Institutions?. 2016. p.9
3. Source: Deloitte. Mobile Banking: A Catalyst for Improving Bank Performance. 2010. p. 4
4. Source: KPMG. Mobile Banking 2015. p. 25
Estimated Transaction Cost by Channel(1)
Rebased to 100 (Physical Branch)
Lowered Attrition(2)
§ Large Bank Customer Attrition Rate:
§ Branch-only customers:13.4% attrition rate
§ Mobile banking customers:4.9% attrition rate
§ Small and Medium sized banks with online banking have a
2.8% attrition rate among mobile bankers
§ On average,bank branch-only customers are more than
2x more likely to attrite than mobile banking customers
“…a bank with a footprint of 100 branches and 250 ATMs, and an
average daily deposit/withdrawal volume of 165 branchtransactions
and 65 ATM transactions, could expect to save about $5 million
annually if the bank were able to convert 20% of those branch and
ATM transactions to its mobile channel.”(3)
JP Morgan Chase: Case Study(4)
Decrease cost-to-serve by Adopting Mobile Technology
Service Before After
Mobile App Based
Reward Redemptions
§ $3
(Call center
redemption cost
per customer)
§ $0.01
(mobile
redemption cost
per customer)
Quick Deposits § $0.65 per deposit
(teller deposit)
§ $0.03 per deposit
(quick deposit)
Mobile banking improves banks’profitability and services a larger number of customers with the same operating
budget by reducing customer servicing costs and reducing customer attrition.
5. elbarid.comelbank.me
... and generates new revenue from existing customers and widens the customer base
Mobile banking increases the number of banking products purchased by existing customers, and attracts new
customers outside the bank’s traditional geographic footprint.
4 Mobile Banking Overview
1. Source: Survey by AlixPartners, 2013; Press articles and Journals; KPMG Analysis
2. Source: Deloitte. Mobile Banking: A Catalyst for Improving Bank Performance. 2010. p. 5
3. Source: KPMG. Mobile Banking 2015. p. 27
3.1
3.8
Non-Mobile Banking Adopters Mobile Banking Adopters
22% increase
Number of Banking Products Purchased
(Overall)(1)
Sample Services Enabled by Mobile Banking
§ Review Accounts
§ Transfer Funds
§ Settle CreditCards
§ Block Cards
§ RequestCard Limit Changes
§ Pay Bills
§ Requestand Calculate Loans
§ Order Checkbooks
§ Secure Communication
10%
19% 11%
27%
29%
32%
63%
52% 57%
France Italy Belgium
Case Study: BNP Paribas(3)
Mobile is Preferred Channel for Customer Contacts
Bank Branch ATM Internet and Mobile
“Mobile banking gives banks thepotential to expand beyond their
geographical footprint as the well as ability to cross-sell and up-
sell products to existing customers. Banks that harness these
additional mobile financial services capabilities can see a profound
impact on the nature of the bankingrelationship.”(2)
6. elbarid.comelbank.me
Choosing a mobile banking platform should balance features
Choosing a mobile banking platform should balance features with value for clients and banks. Features that are
valuable for both will provide the greatest return on investment (ROI) for the bank.
ValueforBankingClients
Value for Banks
Currency & Loan Rates
Locate Nearby ATMs
List of Offerings
Retrieve IBANs
Discussion
§ Clients are most interested
in operations thatincrease
their sense of control over
their accounts
§ Banks are most interested
in operations thatminimize
interaction with call center
operators
§ Features that are valuable
for both clients and banks
are required for a
successfulmobile
banking rollout
Pay Cards
Account Statement
Transfer Funds
Secure Communication
Request Cards
Card Limit Changes
Block Cards
Request Loans
Order Checkbooks
Expand Geo. Reach
Mobile Banking Value Proposition (Clients vs Banks) (1)
1. ElBarid Analysis
ElBarid Group Customers
Card Statement
Locate Nearby Branch
Send Targeted Offers
Bill Payment
Transactional Customer Relations Informational
5
8. elbarid.comelbank.me
ElBank™ is a secure, customizable, cross-platform, and cost-effective online banking
solution that integrates into banks’ existing infrastructure(1)
ElBank™’s straightforward and simple UI ensures that even the most novice mobile banking users will understand
how to access banks’ services. Language can be localized for individual users.
ElBank™ Product Overview - Frontend
§ Clean interface
for maximum
simplicity
§ Secure sign-in
§ Screen real
estate to push
additional
products
§ Branding can
be customized
for individual
bank
§ Secure
biometric login
§ Straightforward
functionality
§ Large,simple buttons
ensure users know
which functionality is
being accessed
§ Features can be
hidden,replaced,or
added as needed
Login Screen User Screen
6
9. elbarid.comelbank.me
ElBank’s™ straightforward and clean interface is consistent throughout the application
Settings E-Services
§ Users can
manage their
own mobile
banking
settings,
reducing
paperwork and
banking
overhead costs
§ Banks can add any
number of services
that can be marketed
directly to clients
§ Backend supportfor
e-services is
provided by ElBarid
and are fully
customizable
A fully customizable backend ensures that banks can keep clients up-to-date with the latest bank offerings and
services.
ElBank™ Product Overview - Frontend7
10. elbarid.comelbank.me
ElBank™’s integrated backend means instant and straightforward account management
ElBank™ Product Overview - Backend8
A full-featured backend ensures that administrators can manage all aspects of the platform, and client accounts,
securely and with minimum hassle.
Key Features
§ Profiles Management
§ Credentials Management
§ Parameters administration & management
– Managed by the backoffice system administrator
– View and modify the username, password,M-PIN and codes parameters
or management or expiry settings
§ Messages Center
– This section manages all the communication with the user throughthe
secured messaging
– Messages can be auto generatedby the applicationto inform the user of a
specific activity on his/her account or a request done or executed,or it
could be manual throughthe insertionof a specific message to a specific
user
– Configuration of automessages is done andupdated by the administrator
§ E-services Execution
– Once a user requests any of the e-services available,it will be
automatically sent to the allocated “Group” of “User(s)”
§ Reporting Center
– This is where the administrator can generateany type of report for the
administration and logginguse of theElBank™ platform
Backoffice Design
Analytics
Clients Dashboard
§ Dashboard provides user index and graphs to monitor real-time
activity statistics including: login activity, no. of transactions
§ Graphs can be altered by filtering columns, zooming, anddate
selection
§ Above charts show the activity of the different types of transactions
executed between April and June 2016.
11. elbarid.comelbank.me
A four-tier architecture ensures maximum security and uptime while clients are engaging with the ElBank™ platform.
No data is ever stored on the phone, and industrial-strength encryption protects against fraud.
9
1. Prepared by ElBarid Group
Technical Diagram of ElBank™ Mobile Banking
Interface(1)
Technical Overview
Elbarid DB
Core Banking
INTERNET
Mobile Banking users
Smart
ATM’s
ATM Switch
WAF + LB
DMZ
(public
systems)
Elbarid
Front Srv1
Internet Banking server
Elbarid Back Servers/Services
(lower layer)
Bank’s secure
Servers/Services
Elbarid
Front Srv2
Load Balancer (LB)
INTERNET
Internet Banking users
Discussion
1. DMZ (Public Systems)
§ Web Application Firewall and Load Balancer
§ Request encryption signature validation(Data submittedfrom
ElBank™ applications is encryptedandsignedwith proprietary
modules written in native low-level code that cannot be reverse
engineered
§ Hardware Firewall developed at the application-tier level to block
malicious DeviceIDs that submit invalid encryptions
2. Load Balancer (LB)
§ Request has valid encryption signature
§ Request is forwarded to Applicationback-tier for treatment
3. ElBarid Back Servers / Services
§ AAA protocol
§ Load device’s encryptionparameters
§ Request decryption validation(per-requestdynamic AES
encryption key is compiled by a proprietary procedure out of
device’s parameters, timestamp, and other tokens
4. ElBarid DB Server:
§ Virtual or Physical Server
§ Standaloneor Instanceof a DB Server
§ SQL, Oracle, MySQL, MongoDB, etc.
5. Core Banking Server
§ Banks’ customers & financial data
6. Bank’s Secure Servers / Services
§ Web service, MQ or DB procedures that connect to the core
banking server for customers’ financial information
1
3
4 6
2
5
The ElBank™ Mobile Banking platform operates on a secure sandbox in parallel to banks’
existing infrastructure
Public Tier
Public (Front)
Application Tier
Data Tier
Secure (Back)
Application Tier
12. elbarid.comelbank.me
ElBarid Group Overview & Clients
— ElBarid currently serves 76 Banks and financial
institutions in the region
— ElBarid was established in 2000 with the objective of
developing smartsolutions thatenhance the user’s
banking experience.
— It employs today around 200 persons with more than 40
R&D Engineers.
— ElBarid has a history of innovation in the mobile world,
as it was the creator of the conceptof “SMS notification
of card usage” that limited dramatically the fraud on
credit cards and increased users’ trust. This solution
was adopted by many banks worldwide.
— ElBarid developed push SMS banking solutions.This
success drove Elbarid,since 2008,to heavily investin
mobile paymentsolutions.
For over 16 years ElBarid group has been a trusted partner leading financial institutions in Lebanon and in the region.
The customers below trust ElBarid with value-added telecom and financial services.
ElBarid Group Overview Primary Clients
Centre de Traitement
Monetique (CTM)
10
13. elbarid.comelbank.me
ElBank™ is developed and deployed by an experienced corporate and engineering team
dedicated to integrating it into existing systems
ElBank™ key contacts are industry professionals with over a decade of individual experience in finance and relevant
industries.
111 Team Overview
Corporate Frontend Backend
Mark Mosleh,Chief Technology Officer Nassim Daoud,ChiefInformation Officer
Email:
mark.mosleh@elbarid.com
Mobile:
+961 3 712 851
Email:
nassim@elbarid.com
Mobile:
+961 76 320 699
Omar Chatah, ChiefOperating Officer
Email:
omar@elbarid.com
Mobile:
+961 76 344 311
Omar (MA Finance, Columbia University) is a
tech industry professional with 9 years
experience in finance, big data,and
entrepreneurship. Omar moved to Beirut from
San Francisco, CA where he managed the
SaaS team for Quid, a Series D big data
analytics company currently valued $300+mm.
Previously, Omar was an Investment Banking
(M&A) Analyst for Citigroup, in London.
Omar joined ElBarid Group as COO in June
2016 with the mission to develop product lines
and expand geographic markets.
Mark is a veteran software engineer with 10+
years of experience in mobile technologies. His
expertise in project managing andteam leading
ensures an enterprise architectural Frontend
powered by the right technology decisions.
Mark joined ElBarid Group in January 2008and
currently leads the Frontend developmentfor
both iOS and Android andis Chief Technology
Officer of ElBank.
Nassim is a seasoned software engineer with 9
years experience in IT systems and
infrastructure. His expertise designing,
developing, andimplementingbanking solutions
ensures execution of thelatest security and
compliance practices.
Nassim joined Elbarid group in 2008 and
currently leads the Backend developmentteam
utilizing Microsoft .Net technologies (BI,
databasing,and web services).
14. elbarid.comelbank.me
ElBank™ is the only integrated market player providing market-tested security, state-of-
the-art features, and a modern banking interface
As a dedicated mobile banking vendor, ElBank™ will continually be updated with the latest banking features, security
standards, and user interface design, at no additional cost to the bank.
12
Feature list (1)
Independent
Development(2)
Competing
Platforms
Custom Bank Branding
Market-Tested Robust Security Processes (3) (3)
Secure Biometric Login
Customizable Content Management System (CMS)
Cross-Platform Support (Web, Android, iOS)
Localization Support
Real-time Data Collection
Push Marketing Support
Geolocation Services
Rapid Deployment
Included Support
Included Updates
Modern User Interface (UI)
Deployment support
Value for Money
1. Source: ElBarid Analysis
2. Features can be added upon request at an additional cost. Ultimate responsibility is on the bank ensure clean and consistent design and proper functionality
3. Outsource and in-house development will not have the robust and tested security processes in place that dedicated market players provide
4. ElBank™ customer data is never saved directly on the device
Feature Comparison
Discussion
§ ElBank™ includes industry
leading features and
services for a competitively
priced monthly fee
§ Our integrated,monthly
licensing model provides
banks the simplest and
most flexible terms to
implementthe ElBank™
platform
15. elbarid.comelbank.me
ElBank™ adopts a straightforward SaaS licensing model
The monthly SaaS model is inclusive of all service, support, training, and software upgrades. This model provides
maximum flexibility for banks and can opt-out at any time.
113 ElBank™ Pricing
Description
§ Monthly leasing model
gives customer maximum
flexibility to opt-out at any
point (no commitment)
§ Dedicated monthly service
and support, and telephone
help desk included in
software license
§ Additional systems
integration,site-visits,
custom branding,and
training available on request
ElBank™ Monthly License
Deliverable Price (USD)
ElBank™ Software License, including: $2,500
Software License (unlimited seats)
24 x 7 Service and Support
On-site visits (as needed)
Systems Integration
Future platform updates
Total Monthly Cost $2,500
Additional Services
Deliverable Monthly (USD)
Internet Banking (Web) $2,000
Integrated internet banking solution (demo available upon request)
Loyalty Programs $2,000
Retain and upsell products to customers
Personal Money Manager $2,000
Clients can manage their personal finances directly within ElBank™
Bill Payment (e.g. Utilities) $500
Clients can pay their utility and telephone bills directly within ElBank™
Total Additional Services $6,500