Mobile Phone Banking

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  • 1. http://www.mobilephonebanking.rbap.org Expanding Mobile Money Market September 13, 2011 RBAP Conference Room RBAP Building Intramuros, Manila
  • 2. Mobile Phone Banking Services Text-A-Remittance (Cash-in/ Cash-out) Text-A-Withdrawal (debit system) Text-A-Payment (loan collection) Text-A-Deposit Text-A-Sweldo Text-A-Credit Text-A-Bills Payment System Automation
  • 3. Transactions clients can do without leaving their businesses Text-A-Payment Loan Collection Text-A-Deposit (Deposit Taking Service) Bills Payment -------------------- Money Transfer (Remittance) Text-a-Withdrawal ----------------------------- Text-A-Credit Savings Withdrawal Loan Disbursement Pay Bills Deposit Money Loan Payment
  • 4. Payroll Services Text-a-Sweldo Payroll Offer Payroll services to staff and and business clients WIRE
  • 5. Text-A-Withdrawal Text-A-Payment Text-A-Deposit Facilitating Mobile Commerce for Micro and Small Businesses Text-A-Credit
  • 6. Expanding Mobile Money Market Product Matrix
  • 7. Potential Segment 1: Rural households seeking practical financial solutions Potential Group Description Customer Need Relevant Products Benefits Positioning/ Strategy 1. Out-of-town workers
    • Rural household with bread winner working in a major city
    • Remit money regularly from major city to family located in rural area
    • Text-a-deposit
    • Text-a-remittance
    • Cheapest ways to send cash home, especially for those with deposit account
    • Send hard-earned money safely to your family bank
    • Increase GCash registration with help from GCash
    2. Family with dependents out-of-town
    • Rural household with dependents in other towns and need to send cash to them regularly
    • Remit money regularly from home town to location of dependents
    • Text-a-remittance
    • Cheapest and fast means to send cash from home town
    • Affordable and fast cash transfer
    • Promote product during GCash registrations
    3. Clients of utility companies
    • Households in rural areas who miss infrequent collector visits, or who can t spend half day in queue at local covered courts to pay utility bills
    • Flexibility in paying bills
    • Convenience
    • Text-a-bill pmt
    • Avoid service disconnection if they miss collector visit
    • Avoid hassle of waiting for half day in quiue
    • Pay on client s time of choosing
    • Pay bills conveniently
    • Arrangement with stakeholders to create value
  • 8. Potential Segment 2: Customer groups in under-banked regions Potential Group Description Customer Need Relevant Products Benefits Positioning/ Strategy 4. Households in towns with limited bank presence
    • Households in rural regions where bank offices are extremely limited
    • Regions with Globe signal and CICOs
    • Basic financial services
    • Text-a-remittance
    • Text-a-deposit
    • Text-a-Pmt
    • Text-a-Bill Pmt
    • Text-a-wthdrwl
    • Text-a-credit
    • Avoid paying high transportation cost to reach banks in far-away places
    • Banking solutions to every household
    • Expand client reach of Cantilan, PR and 1 st Valley banks
    5a.Companies with large head count
    • Companies with many employees in its payroll, which makes manual salary distribution costly and risky
    • Employers need to disburse salary in an efficient way
    • Employees need to receive salary on time with least possible transaction cost
    • Text-a-Sweldo
    • Companies release salary in most practical way with high security
    • Employees receive salary on time
    • Cost-effective and safe payroll solution
    • Encourage Cantilan, PR and 1 st Valley to sign-up more companies
    5b. Employees receiving Text-a-Sweldo
    • Employees of large-headcount corporations located in under-banked regions
    • Spend salary in the most cost-effective way given the form of salary received from employer
    • Text-a-remittance
    • Text-a-deposit
    • Text-a-Pmt
    • Text-a-Bill Pmt
    • Financial services become affordable with GCash already available without cash-in fee
    • Harness the benefits of GCash
    • Encourage banks to cross-sell mobile banking products
  • 9. Potential Segment 3: Businesses that can benefit from mobile banking Potential Group Description Customer Need Relevant Products Benefits Positioning/ Strategy 6a. Merchants accepting GCash
    • Wholesalers, grocery stores, sari-sari stores that receive sales proceeds in GCash
    • Unload excess GCash from their wallets before they reach wallet size limit
    • Text-a-deposit
    • Text-a-Pmt
    • Text-a-Bill Pmt
    • Deposit sales proceeds cost-effectively
    • Pay bills or loan conveniently and cheaply
    • Deposit daily sales without leaving the store
    • Sign-up more merchants with GCash
    6b. CICO Outlets
    • Globe Cash-In Cash-Out outlets supporting GCash
    • Manage wallet size to meet customer demand for Gcash
    • Text-a-Deposit
    • Text-a-Credit
    • Text-a-Pmt
    • Text-a-Bill Pmt
    • Unload excess GCash during heavy cash-outs
    • Receive loans without paying cash-out fee
    • Manage GCash wallet through mobile banking
    • Sign-up CICOs with GCash
    6c. Globe Autoload Max resellers
    • Resellers of Globe airtime through Autoload Max
    • Meet heavy customer demand effectively
    • Text-a-Withdrwl
    • Text-a-Credit
    • Text-a-Pmt
    • Reseller meets unexpected demand volume
    • GCash converts to load efficiently
    • All clients served
    • Sign-up Globe resellers to GCash
    7. Microcredit borrowers in good standing
    • Repeat micro-credit borrowers with good track record of debt repayment
    • Savings in loan servicing fee
    • Text-a-Pmt
    • For borrower, reduction in interest rate
    • For bank, increase in business volume
    • Better financng deal through GCash
    • Offer product to good micro borrowers
  • 10. MYCLICK S SMS SOLUTIONS Customer Relationship Management (CRM) for Rural Banks using SMS
  • 11. Deposit Related SMS Service
    • ACCOUNT OPENING
      • Welcome SMS for newly opened accounts
    • TIME/SPECIAL SAVINGS DEPOSITS
      • Reminder for Maturing TDs
      • Roll over SMS on the day of maturity
    • CURRENT/DEMAND DEPOSITS
      • Reminder to cover insufficient funds
      • SMS for returned checks (client)
      • SMS for returned checks deposited to the client accounts
  • 12. Loan Related SMS Service
    • ACCOUNT OPENING
      • Welcome SMS when banks received loan application
    • LOAN APPLICATION
      • Thank you SMS for applying loan
      • Loan status inquiry (client initiated)
      • Loan approval status (positive)
      • Loan approval status (negative)
    • LOANS MONITORING
      • Repayment reminders (positive)
      • Missed payment reminders (negative)
      • Maturing loan reminders (+/-)
      • Thank you SMS for fully payment of loans
  • 13. Non-Financial Services Provided via SMS
    • PERSONALIZED REMINDERS
      • Birthday
      • Anniversary
      • Congratulatory
      • Bereavement
    • NON-PERSONALIZED REMINDERS
      • New products and services
      • New branch and OBOs announcements
      • Bank activities e.g anniversaries, events, marketing blitz
    • OTHERS
      • Holiday reminders
      • RB