“The cell networks are the fastest growing IT infrastructure nowadays, which is not relevant to the ATMs, bank offices and even Internet. Using mobile communications the financial institutions can broaden their services and bring them to the less inhabited regions, including small villages, agricultural co-operations, hotels and chalets” – said Tsvetomir Doskov, CEO of Sirma Business Consulting – “Our aim was to create a solution, which can be both user friendly and platform independent, safe and reliable and I am glad that we accomplished that aim with SBC M-Banking.”
According to the CEO the system could easily be localized for each language. “That turns SBC M-Banking into a potential solution, solving the “digital divide” problem in Bulgaria as well as in many other countries in the world, giving the inhabitants of poor developed infrastructure regions the possibility to use the privilege of modern pay services” – added Doskov.
Among the main advantages of the solution is the user independence from the working hours and the close proximity of the bank office or ATM, the geographic independence, the resources of the banks to attend more customers with less man-hours labor and bank branches functioning, and last but not least - the possibility for the banks to earn from smaller transactions due to the low expense for the solution functioning. “Besides, as a new and fast growing channel, the mobile banking could outline a single bank against its competitors and its transformation into a more innovative player in clients concept” – Doskov is convinced.
SBC M-Banking includes all well-known bank functions – from the possibility to check the account balance, account details, history and transaction details, payments between own accounts and to third party accounts, bill payment processing - for utility and public services, e-invoices, reloading of prepaid cards, etc. Moreover, SBC M-Banking gives quick access to useful financial information, like currency rates, interests rates, etc. The solution includes server part and software client, installed on the user mobile device. It is fully integrated with the bank IT systems, platforms for e-payment, e-invoices and others.
When developing the SBC M-Banking the emphasis was placed on security including two – factor user authentication (password and token device), end to end cryptography and digital certificates. The password is stored and checked on the server, not on the mobile device. In addition, the solution could be integrated with other specific security policies used in banks.
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Sirma Business Consulting (http://www.sirmabc.com/