Picture Money Transfer: GFT to present innovative mobile banking app at CeBIT

March 2, 2012 - PRLog -- London, 2 March 2012 – Printed bank transfer slips are still remarkably widespread as a bill insert – despite numerous digital developments. On behalf of a German bank, GFT Technologies AG has now created a solution which brings the two worlds together. At CeBIT in Hanover, Germany, the “Picture Money Transfer” prototype will be presented: an innovative mobile banking app with which smartphone cameras can digitise and intelligently process bank transfer slips.

For the first time, more smartphones will be sold in 2012 than conventional mobiles. They’re becoming ever more ubiquitous – and their possibilities are expanding rapidly. Financial services providers are also seeing a significant rise in the uptake of their mobile services. This trend is opening the door to a variety of service and sales opportunities. The financial sector is benefiting from the shift away from the real economy to a world of digital business. “The wide range of functionalities offered by the latest generation of smartphones is making it possible to provide a variety of exciting mobile banking solutions – apps that add genuine value for customers,” says Christopher Ortiz, Managing Director at GFT UK. As a function developed for a German bank, the internationally operating IT service provider will be unveiling a compelling example of this potential at this year’s CeBIT.

The “Picture Money Transfer” solution revolutionises the handling of pre-printed bank transfer forms. “Until now, customers had to go online to enter the details shown on the paper form manually, or hand the slip in at a nearby branch. Either way, this resulted in considerable manual processing time – for both the customer and the bank,” says Ortiz.
With the new “Picture Money Transfer” app, this belongs to the past. Developed by GFT on behalf of a German bank as a prototype for CeBIT 2012, this extension to the bank’s award-winning  app is impressive not just for its user-friendliness but also its extreme practicality. Information already printed on the transfer slip can be quickly digitalised and edited directly. The customer photographs the transfer form with the iPhone 4S’s high-resolution camera. Details on the form – the payee, their account number, the bank sort code, the currency, and the payment information – are captured by the OCR software and transmitted to the mobile online banking system, which automatically processes the payment, checks the data and completes the transaction.

The “Picture Money Transfer” app is an innovative tool for carrying out banking transactions quickly and without hassle. It will be unveiled to the public at CeBIT 2012 in Hanover. Fair visitors can test a prototype of the app at GFT’s stand (D43 E_1, Hall 16) from 6 to 10 March.

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As a strategic IT partner based in Stuttgart, Germany, the GFT Group helps companies optimize their business processes by providing intelligent IT systems and highly skilled specialists. Under the motto “inspiring IT”, GFT converts cutting-edge technological developments into sustainable business models.

GFT is one of the world’s leading IT service suppliers for the finance sector. It enables financial institutes to quickly and securely utilize modern technologies in order to enhance their long-term competitive standing.
www.gft.com

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GFT combines established technological experience with comprehensive industry expertise, in order to develop, implement and maintain customized IT solutions. With its international network of experts, GFT offers companies in all sectors the opportunity to flexibly manage the staffing of their technology projects.

For 25 years, GFT has stood for technological expertise, innovative strength and outstanding quality. Founded in 1987 by its current CEO, Ulrich Dietz, GFT achieved revenues of €272 million in 2011. The GFT Group is represented in seven countries by its 22 local facilities. A global team of over 1,300 employees and 1,300 external consultants implement complex IT projects across various countries. The GFT share is listed on the Frankfurt Stock Exchange (Prime Standard: WKN 580 060, GEX).