Supranetcom

Mobile Banking, Mobile Finance

My bank services, anytime, anywhere


Description of the Mobile Banking

Banks see in the Mobile handset a way to be closer to their customers and offer additional services. By opening their services to the mobile channel, banks increase the user satisfaction with 24 hours a day availability. On the other hand, this is a major cost savings for the bank where some of the customers don’t need to walk to the bank’s branch for basic, low value tasks, such as ordering check books, balance inquiry…etc.
Going further, Mobile handset can also be used for payment of services and utility bills. This is a very convenient service where the transfer is automated from the subscriber’s account towards the merchant’s or service provider’s account. This kind of 24/7 service access increases user satisfaction and user loyalty.

Requirements

To deploy Mobile banking services, banks and financial institutions require the best and most advanced technology, bringing premium service to their subscriber:

  • Secured access for secured transactions
  • Tracking of transactions for auditing and fraud detection/control
  • Open platform for interconnection to the bank network
  • Multi-channel service: using SMS, USSD as well as IVR

Applying our technology to Mobile Banking

Our solutions for Mobile Banking and Mobile Finance uses innovative technology: USSD for interactive, secured and fast menu based service. A text-based menu such as: ”Press 1 for balance inquiry, press 2 for Statement, press 3 for check book order…etc.”, is the typical menu that can be pushed by our platform towards the user’s mobile handset. Our technology does not require necessarily smartphone but is compatible with any mobile phone including very basic ones. Next to USSD, our platform provides other access alternative such as SMS and DTMF or speech driven IVR.

Mobile Finance Solutions

Mobile Banking

Mobile banking is a way of giving access to customer’s bank account through Mobile phone. User will have the choice to: check balance, get the last operations on his/her account, order check books, suspend credit card, make transfers…etc. The goal is to give access to the majority of bank’s services through the mobile phone which becomes then a sort of virtual bank’s branch.

Mobile Payment

A major aspect of Mobile finance is mobile payment. This a way by which a person pays a bill using his/her mobile phone. Practically, this would be for example payment of utility bills, such as electricity or water, and it could be payment of purchased goods from merchants. Our CaaStor™ product allows it all, through different channels. CaaStor™ triggers the transfer of the amount from user’s account to the merchant’s account. It can also send notification to both the user and the merchant, while keeping track of all these transactions.

Money Transfer

This is a common situation where money is sent generally from one country to another. This type of service uses known market leaders. However, these don’t offer the flexibility of the Mobile phone. CaaStor™ Mobile Transfer module allows for Money transfer even between different currencies, with configurable conversion rates, sending notification SMS to both users.

Mobile Virtual Wallet

Mobile virtual wallet is comparable to bank account, except that it works in prepaid mode only. Using such account, transactions between wallet accounts do not have any relation with the bank. This is specifically designed for the unbanked population. CaaStor™ Virtual Wallet module is a complete virtual account management system, where users can manage their account through USSD secured connection for checking their balance, make transfers to another virtual account, pay utility bills, obtain a payment voucher for some merchant, take out cash, put-in cash, get short of full history of the account statement…etc. CaaStor™ allows for a Mobile Virtual Wallet that actually works simultaneously with multiple operators’ networks and with multiple banks simultaneously.