Banking: The Mobile WayPresented By:

Subash SharmaVice President (Product Development)

F1 Soft

www.f1soft.com

Mobile: More Than Just a Phone

The Reach

• 33% of population in Nepal own a Mobile Phone (November 18, 2010 NTA)

• 52% growth last year alone

SMS-The Charm• Short Message has become the most preferred

way to exchange information.

Content Providers• TV/FM/Newspaper User Interaction• Polls• Games

Corporate/Business• Push offers to Customers• Help Retailer place orders• Notify Customers of Important Due dates• SMS Advertising• Ticketing

Social•SMS for farmers• Social Awareness Messages

Banking• Transaction Alerts• Balance enquiry• Last Transaction• Fund Transfer• Bill Payments

Mobile Banking

• Balance Enquiry<PIN> BAL

• Mini Statement <PIN> LT

• Fund Transfer<PIN> FT <FROM ACCOUNT> <AMOUNT> <To ACCOUNT>

• Bill Payment<PIN> PAY <MERCHANT CODE> <AMOUNT> <PAYMENT CODE>

Then Came the Applications

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Mobile Sites: Alternative to Applications

Bank 2.0

• Leveraging the power of Mobile in Banking.• Taking the Bank to the Unbanked• Using Mobile to– Open an Account– Send Money– Receive Money– Make Payments– Cashless Transaction–Microfinance

www.f1soft.com

Data Plan, Cheaper Faster

• Competition between service providers has resulted in cheap data plans.

• More people connected to the internet through mobiles than through actual desktops.

• Applications should be able to take advantage of this, as it will be cheaper for the customers.

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Challenges

• 60 % literacy rate• 10 % English literate population• Minimal use of SMS• Majority of phones in use in market do not

support local language• Developing multiple applications for multiple

vendors/Platforms will remain a challenge

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Future

• Already there are more customers for mobile banking than for Internet Banking

• Addressing security needs while maintaining the usability and address the opportunity created by this platform

• Educate customers to use the technology• Get ready for newer technologies like NFC and

Mobile Audio POS

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Thank you

www.f1soft.com @Laxmi Bank