myBANK is an exciting new mobile banking application that allows consumers to conduct most banking transactions on their mobile devices using a graphical interface. It can work independent of any network connection as transactions can be sent via SMS. Its uniqueness is summarized as follows:

From a Customer Perspective

• Provides you with most General Banking Features
• Bill Payments (with Biller set up etc.)
• Payment History, Details, Search etc.
• Request cheque books
• Request statements and last few transactions
• Transfer Funds etc.
• You do not need to be ‘online’
• No need to use 3G, GPRS, WAP etc.
• No associated connection charges, monthly fees etc.
• No network bottlenecks, line speed issues etc.
• It works in an ‘offline’ mode
• Menus, products, pictures, descriptions, prices etc. all reside on your phone
• You have access to myBANK at any time, any place
• Your transactions are sent via SMS, which is the most costs effective mechanism
• It can work in a 3G / GPRS environment
• If you prefer to run it in an online mode, you can do so cost effectively
• You can run it by simply providing the relevant URL Address
• Installation & Usage
• Very simple installation and registration
• Runs on most mobile phones – any phone that supports Java Midlets
• You simply send an SMS to the number provided by your bank, receive a link and click on it to download and automatically install
• Alternatively, you may download to your PC, link to the phone and install it
• You send initial information to the bank and you’re good to go
• Mobile Banking Process
• No travel, no parking, no lining up
• You don’t have to be computer / internet savvy
• No communication issues
• You do not need to rush because someone is waiting on the line
• You can compile all your transactions and send them in one go
• You click on send and wait for a confirmation. No confusion, no discrepancy! Your confirmed transaction is immediately SMS’d back to you for your records

From a Bank Perspective

• Potential Increases in Revenue & Profitability
• Banks can charge for mobile services, either by subscription or by transaction
• Will attract ‘gizmo’ lovers and introduce new customers
• Reduces your call centre staff requirements for Phone Banking
• Reduces Teller requirement and eventually Branch requirements
• Eliminates missed calls, long wait times and customer frustration
• Seamless Integration
• SMS Gateways are used to receive, process and route transactions
• Integrates with your existing Core Banking System (CBS)
• Any format can be provided to the CBS
• Web data set up can be made available for users to download
• Works in multiple markets & environments:
• Offline  –  where cost of connectivity is high
• Online  –  where constant connection is available, so works with 3G, GPRS, WAP etc.
• Savings  –  in the new economic climate, many consumers may not want to pay for monthly connections fees on their phones!
• Language  –  available in all languages
• Fully Customizable – any level of customization can be added
• Content Management Portal
• Allows you to monitor current and prior transactions, with multiple search options
• Audit trail of customer requests for future reference
• Allows you to broadcast or ‘push’ messages to customers
• Provides you full freedom in defining any level of sophistication in your promotions