m-banking

M-Banking Solutions

The increasing requirement for convenience from consumers in developed economies and the essential need to provide access to financial services for consumers with a limited access to other electronic channels, the concept of mobile banking offers the solution to Banks for gaining a significant opportunity to reduce cost by maximizing existing infrastructure and reducing further investment in expensive infrastructures such as branches and ATM networks, whilst also opening up other potential revenue streams. Mobile banking provides excellent opportunities to programs, such as branchless banking and self service banking, in the financial services industry.

Banks and other financial organizations can use this powerful mechanism for improving the customer´s banking experience whilst forging a closer relationship. As Consumers begin to rely on their mobile for a variety of services it becomes essential to enable their access to financial services at any time in any place. Increasingly the mobile phone is becoming a lifestyle driver in developed economies and this is likely to prove true for mobile financial services.

The Fundamo Mobile Banking product delivers mobile transacting capability to existing (traditional) bank accounts.

As an additional electronic channel, mobile banking enables the consumer to make payments such as bill payments and transactions including money transfers, banking enquiries, (balances, detailed and mini statements) as well as the ability to both deposit and withdraw funds from the account.

In addition to the core mobile banking functionality, the Mobile Banking solution provides banks with the opportunity to offer new functionalities to customers that integrates into a broader financial ecosystem.