Upload
helen-richards
View
218
Download
0
Tags:
Embed Size (px)
Citation preview
Banking: The Mobile WayPresented By:
Subash SharmaVice President (Product Development)
F1 Soft
www.f1soft.com
Mobile: More Than Just a Phone
The Reach
• 33% of population in Nepal own a Mobile Phone (November 18, 2010 NTA)
• 52% growth last year alone
SMS-The Charm• Short Message has become the most preferred
way to exchange information.
Content Providers• TV/FM/Newspaper User Interaction• Polls• Games
Corporate/Business• Push offers to Customers• Help Retailer place orders• Notify Customers of Important Due dates• SMS Advertising• Ticketing
Social•SMS for farmers• Social Awareness Messages
Banking• Transaction Alerts• Balance enquiry• Last Transaction• Fund Transfer• Bill Payments
Mobile Banking
• Balance Enquiry<PIN> BAL
• Mini Statement <PIN> LT
• Fund Transfer<PIN> FT <FROM ACCOUNT> <AMOUNT> <To ACCOUNT>
• Bill Payment<PIN> PAY <MERCHANT CODE> <AMOUNT> <PAYMENT CODE>
Then Came the Applications
www.f1soft.com
Mobile Sites: Alternative to Applications
Bank 2.0
• Leveraging the power of Mobile in Banking.• Taking the Bank to the Unbanked• Using Mobile to– Open an Account– Send Money– Receive Money– Make Payments– Cashless Transaction–Microfinance
www.f1soft.com
Data Plan, Cheaper Faster
• Competition between service providers has resulted in cheap data plans.
• More people connected to the internet through mobiles than through actual desktops.
• Applications should be able to take advantage of this, as it will be cheaper for the customers.
www.f1soft.com
Challenges
• 60 % literacy rate• 10 % English literate population• Minimal use of SMS• Majority of phones in use in market do not
support local language• Developing multiple applications for multiple
vendors/Platforms will remain a challenge
www.f1soft.com
Future
• Already there are more customers for mobile banking than for Internet Banking
• Addressing security needs while maintaining the usability and address the opportunity created by this platform
• Educate customers to use the technology• Get ready for newer technologies like NFC and
Mobile Audio POS
www.f1soft.com
Thank you
www.f1soft.com @Laxmi Bank