Retail News CRM

Tag: M-banking

  • BTPN targets Indonesia’s growing m-banking userbase

    BTPN targets Indonesia’s growing m-banking userbase

    Respondents to the Pwc 2017 Indonesia Banking Survey reveal that 52% of Indonesian banks see technology as the main driver of bank transformation over the next 3-5 years. Respondents say that e-banking is their top investment priority.

    Surveyed banks also affirm that while branches continue to be the preferred channel for banking, customers are clearly moving towards mobile and internet channels. According to PwC, in this regard foreign banks enjoy greater traction with customers via their mobile and internet channels.

    Seeing this trend, PT Bank Tabungan Pensiunan Nasional Tbk. (BTPN) has embarked on a digital transformation strategy of its own, including enhancing how it targets and engage Indonesia’s growing mass affluent customers with its Jenius digital/mobile banking app solution.

    According to BTPN, Jenius is a hybrid implementation that is digital at the core but leverages the bank’s physical outlets in a targeted way. Jenius has already seen strong take up, overachieving on BTPN’s original app download goals. It also has significant potential to grow given the penetration of smartphones in the region and the large underbanked population.

    Peterjan van Nieuwenhuizen, Head of Digital Banking at BTPN said, “BTPN is committed to pioneering banking to suit customer lifestyles. We have built a system [Jenius] that enables our customers to complete basic banking processes without going to the branch. With an expanding middle class and growing mobile internet use here, we saw the significant opportunity this creates for financial services. Our philosophy is ‘do good, do well’ and we want to embody that in all aspects of the bank. Our customers look to us for innovation and fast, efficient services.”

    Powering Jenius is Finastra’s FusionBanking Essence Digital platform, which according to Finastra removes complex banking processes, enabling the bank to create highly personalized and easy digital experiences for its customers. Fast and secure sign-up and authentication make banking on the move simple.

    In addition to meeting customer demand for multi-channel digital banking experiences, FusionBanking Essence Digital enables BTPN’s Jenius to attract better-priced funding and more deposits from a new market segment as well as to bring products to market faster. Modern software architecture has enabled the bank to quickly transform digital solutions into powerful sales engines and increase revenue opportunities. It will also enable it to continue evolving alongside the broadening digital landscape in Indonesia.

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  • Global m-banking userbase to hit 2b by 2021

    Global m-banking userbase to hit 2b by 2021

    Over 2 billion consumers worldwide will have used their mobile devices for banking purposes by the end of 2021, up from 1.2 billion this year, Juniper Research predicts.

    Growth in mobile banking is being driven by consumer adoption of banking apps the changing way consumers manage their finances, the research firm said.

    The study found that the number of mobile banking logins are now exceeding that of internet banking logins in many markets. For example, the BBA (British Trade Association for Banking) announced that banking app logins in the UK reached a record 11 million per day during 2015, compared to 4.3 million internet banking logins during the same period.

    Meanwhile, a recent consumer survey conducted by Juniper Research found that around 65% of mobile banking customers in the US and the UK use an app to conduct banking services.

    The report found that banks are becoming increasingly concerned that their market position is being undermined by tech companies and pure-play vendors enabled by technology and regulations to enter the marketplace.

    Additionally, by 2017, banks in the EU will be compelled to open their APIs. This will result in many innovative new products that analyze (with permission) user data to create more attractive financial services for customers.

    “Recent industry shifts highlight why traditional banks must respond rapidly to retain market share by cultivating new revenue channels and enhancing existing base through sustained innovation,” research author Nitin Bhas said.

    “However the challenge here for new players is to increase market share and maintain profitability in the long-run.”

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  • Banks, NBTC agree on 5 step m-banking security plan

    Banks, NBTC agree on 5 step m-banking security plan

    The National Broadcasting and Telecommunications Commission hosted a meeting with representatives from the Bank of Thailand, the Thai Bankers Association and the Telecommunications Association of Thailand.

    The participants have agreed on a five-step plan to tighten KYC rules to increase confidence in eBanking and mobile banking in the run up to the launch of Thailand’s Promptpay national mobile payments system.

    1. The NBTC, BOT, TCT and mobile operators will create a set of KYC rules. The NBTC will order telcos to follow them strictly and will evaluate compliance with the new rules.
    2. Banks and mobile operators will launch an awareness campaign for people to tell their banks when their mobile phone or SIM is lost.
    3. If it can be proven that the customer has told their bank that their SIM has been lost, they will not be held responsible for monetary losses.
    4. A system will be set up for banks to be notified automatically when new SIMs are issued. Until such a system is in place, banks will give telcos a watchlist of telephone numbers that are linked to Internet banking, mobile banking or Promptpay accounts for their special attention.
    5. Issuing new SIM cards for accounts linked to bank accounts can only be done in person by the account holder and not via proxy.

    Meanwhile, NBTC Secretary General Takorn Tantasit has banned the import of all Galaxy Note 7 phones due to their exploding batteries. Phones from affected batches are immediately banned from being imported and the import of new note 7 batches can only resume once Samsung provides the NBTC with satisfactory electrical and safety test results.

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  • Maybank debuts m-banking in Cambodia

    Maybank debuts m-banking in Cambodia

    Maybank has introduced its mobile banking app in Cambodia as part of efforts to strengthen its presence in the country.

    The app is the first in Cambodia to offer augmented reality and a QR code reader. A similar app was launched in Malaysia in 2014.

    Maybank group head of community financial services Datuk Lim Hong Tat, who launched the new app in Phnom Penh, said that internet banking has become a trend for many digitally savvy Cambodians who are increasingly comfortable transacting over this channel.

    Maybank’s online banking channel, namely M2U, which was introduced in Cambodia in 2012, is seeing robust growth with its registered user base increasing by over 50% within a year, and the volume of transactions has also risen by over 50% from 2014 to 2015,” said Lim.

    Lim said that with the launch of mobile banking app, customers in Cambodia will enjoy enhanced customer experience and greater speed when undertaking banking transactions over their mobile phones.

    “With the mobile banking app, Maybank customers can check their account balance, including all debit card purchases and perform simple transactions anytime, anywhere, alleviating the need for trips to our branches,” Lim explained.

    Other features offered by the app include the ability to send money to anyone with a mobile phone number – such transactions allow for cash to be withdrawn at any Maybank ATM without using an ATM card.

    The augmented reality branch locator tool allows customers to scan their surroundings and follow onscreen directions. It also detects nearby ATMs and promotions exclusive to the Maybank customer.

    The in-app QR code reader as well as loan calculator is available for public use, even if they are not yet a Maybank customer.

    Maybank Cambodia currently operates a network of 21 branches throughout the country complemented by 40 self-service terminals.

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