tranzware mobile banking
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Presently, the majority of mobile banking services use SMS delivery to provide information such as account balances and notification of transactions. Many banks successfully implement services allowing their customers to make transactions using SMS commands.TranzWare software products enable the full implementation of SMS banking services. A bank using this software can choose different event notification schemes and send SMS commands to make transactions. The algorithmix functionality makes it possible to breakdown any incoming SMS message and convert it into transfer or payment transactions using any predetermined payment methods (fund transfer between cards, mobile phone top-ups or any other simple payments), balance checks or commands to block cards. You can’t stop progress and mobile phone functionality continues to expand and become more PC-like as mobile Internet access speeds increase. This is why Compass Plus believes that Internet banking for mobile devices is the future.
Internet Banking for PDAUtilizing the advantages of smart phone browsers and well-sized screens, Compass Plus has adapted TranzWare Internet Banking to display information on these screens in a more effective way, minimizing traffic. Presently our PDA version offers near the complete functionality of full size Internet Banking. Now any smart phone user can get access to their personal TranzWare Internet Banking interface in any location within a GSM network supporting data transfers (GPRS, EDGE, 3G).
MIDlet for Mobile PhonesCurrently many mobile phones do not allow easy access to Internet pages. For users who have phones such as these, Compass Plus has developed MIDlet, which provides all the facilities of TranzWare Internet Banking and adjusts the information display and user interface of feature-limited phones without loss in functionality. MIDlet uses Java Mobile platform, which is available for all current mobile phone models and smart phones with Symbian, Windows Mobile, Android, RIM Blackberry, Samsung Bada, Maemo (MeeGo).
The connection between MIDlet and the TranzWare Mobile Banking server can be established via any available Internet connection which is encrypted with 3DES algorithm. GPRS/EDGE/3G or WiFi/WiMAX can enable access to banking services in any location within a GSM network and also enable the possibility of using alternative and often cheaper channels of wireless connection. The choice to use an Internet connection rather than SMS transport is deliberate as it allows the user to minimize costs. Experience has shown that a typical mobile banking session, when the status of accounts and cards (balances, limits) are checked and several payment transactions are made, uses no more than 10 kilobytes of Internet traffic and, subject to the mobile service provider, is equivalent to 1 or 2 SMS messages in terms of price, which would only allow the authentication of the customer and the performance of a single action (checking card status or performing one operation).
TranzWare Mobile Banking uses the same VTBI protocol as TranzWare Internet Banking for connection with the TranzWare Online server. This makes system management easier (on TranzWare Online no management actions are required to launch TranzWare Mobile Banking), and it provides access to all functions available in Internet Banking via a mobile phone. TranzWare Mobile Banking utilizes the same authentication features of TranzWare Online as TranzWare Internet Banking which saves the user the trouble of remembering different sets of IDs/passwords and having additional tokens. The users can use the following features for authentication: • digital identifier and iPIN• text identifier and iPIN• VISA/MasterCard EMV card and its PIN using DPA/CAP technology respectively• certain actions may require a one time password delivered with an SMS or generated using DPA/CAP technology.
TranzWare Mobile Banking
Efficient banking services available through mobile channels
Over the last decade, mobile phone use has become fundamental in most people’s everyday lives. Today (end of year 2009), two thirds of the global population use mobile phones, and in developed countries, the mobile phone penetration rate has long exceeded 100%. Numerous social surveys show that people use mobile phones throughout their business day, at home in the evening and even have them switched on throughout the night. This means that to competitively expand in the mass-market, banks need to use mobile phones as a remote banking channel allowing the customer complete accessibility at any given moment.
As the TranzWare Mobile Banking application is identical to TranzWare Internet Banking in terms of functionality it is familiar to any user who has worked with TranzWare Internet Banking and therefore saves time and is easy to become acquainted with.
Mobile banking implementation is so convenient that bank customers use it more often than Internet banking. Moscow Industrial Bank reports some interesting statistics on this case: its customers use mobile banking twice as often as Internet banking and make payment transactions 6 times more often.
Technical Requirements:Mobile phoneApplication server (minimum requirements)
MIDP 2.0, CLDC 1.0RAM 1Gb, HDD 8Gb, JAVA SE support
View account listView account details and parameters (available and total balance, currency, status and description with option to change)View card list linked to an accountView account statements for a certain time periodView account list linked to a cardChange card iPINChange scheme of notifications on card operationsChange/add card limitsInstant issue of virtual cardView card statementsPayments to a vendor on a list defined by the bankFree payments (BIC/SWIFT)Create payment templates for frequently performed transactionsSchedule payments (set payment date or recurring payment on schedule)Export payment templates to ATMTransfers between own accounts and to other client accounts within a bankP2P transfersCorrespondence with the bankSelect and fill in product/service request forms predetermined by the bankView currency exchange rates (official and internal bank rates)Connection settings (server address, disconnect, data caching)Interface settings (user language select, card/account number masking, display bank account names or balances instead of the card/account number)Traffic statistics
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About Compass Plus
Compass Plus provides refined state-of-the-art products and flexible business solutions that drive all-scale multi-component EFT systems employed in the financial and retail industries, mobile and electronic commerce, interactive self-service business and in other trade areas that engage in electronic payments. Our in-house developed superior EFT solution – TranzWare™ – incorporates a comprehensive range of integrated customisable products and is fit to suit an array of customer needs. TranzWare™ solutions are capable of reducing clients’ total cost of ownership, improving ROI, increasing efficiency and delivering great benefits to the end customers.
Copyright © 2010. Compass Plus International. All Rights Reserved. TranzWare is a registered trademark of Compass Plus International.All features and specifications are subject to change without notice.When choosing the functionalities of this product you are advised to consult a Company representative.19.04.2010_v2.01
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