 Home Solutions ... Mobile Banking
 With the impressive take-up of mobile phones over the last 10 years, mobile communications are rapidly becoming one of the must-have distribution channels for financial services making a phenomenal impact on the way consumers access and manage their finances. Whether in pursuit of a multi-channel distribution strategy, or as means of attracting young and always-on-the-go consumers, this market provides a wealth of opportunities for all types of financial service companies to exploit.
Mobile Banking is one of the solutions in the remote banking range developed by Compass Plus. The solution is empowered by TranzWare Mobile and therefore, is a secure advanced system able to drive m-Commerce and to set organisations deploying it on the way of harnessing opportunities delivered by mobile phones. With the Mobile Banking solution, a financial institution can offer its customers secure direct access to an extensive range of traditional banking transactions as well as a number of relatively new developments:
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Information services: balance enquires, mini statement request, viewing list of last transactions, card/account status request, card limits information, exchange rates information, other account/card information (various rates (APR, AER, etc.), fees, charges, payment schedules, credit and overdraft limits, etc.) |
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Fund transfers (Card/Account/Card; Card/Card; Account/Account) |
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Payments (personal, one-off payment, periodic, deferred, etc) |
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Payments to public vendors (public utility companies, phone/mobile phone companies, ISP, satellite/cable TV companies, tax authorities, etc) |
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Payment for physical goods and services (making purchases) |
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Cash withdrawal service (empowered by MobiCashATM technology) |
In contrast to existing solutions on the market, the Mobile Banking solution from Compass Plus is independent of an interaction channel and thus, offers a broad range of transaction initiation and response means, including SMS (over GSM and SMPP), IVR, WAP, Java, SIM applications and other facilities for interaction with external hosts and systems. As such Mobile Banking solution does not necessarily require collaboration with third-party organisations in order to enable any of the services in the m-Commerce context.
The solution can integrate seamlessly not only with third-party host solutions but also into existing POS terminal and ATM networks to ensure payment and cash withdrawal with a mobile phone as well as payment cards. Moreover, Mobile Banking provides graphical tools for developing customer interface scenario.
Security
As with all products in the TranzWare family, special attention is devoted to security when using Mobile Banking. The solution has all of the following security features:
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ID when accessing information services |
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PIN when initiating transaction |
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Usage of TANs when transaction is authorised |
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Usage of dynamic SMS passwords |
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Blocking access to the service if a PIN is entered incorrectly three times |
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Setting of transaction limits |
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Electronic receipts (notification of transfers, payments and cash withdrawals made) |
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Encrypted communications |
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Various combinations of the above |
Key Benefits
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High level of security based on various features |
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System effectiveness due to the reduction of manual data entry (the system has many standard templates and an optimised scenario) |
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Easy integration with TranzWare Online (via VTBI, TIC, TPTP, xDC protocols) and other systems (via ISO8583, SPDH, xDC, file exchange) |
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System parameterisation and scalability |
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User-friendly graphical environment for client scenario development |
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Option to register for the service via ATM |
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A subscribers mobile phone number can be used as an additional identification (security) means |
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Subscriber stop-list maintenance |
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Variety of report forms |
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System activity monitoring |
To discover more about the Mobile Banking solution please contact us. |
