Value Added Services (VAS)
The transfer of applications from the PC to the mobile phone is timely news for operators, since mobile penetration is approaching saturation in some markets and operators are acutely aware that they need additional services to recover the investments made in bringing the connectivity to more users. Without value added services it will take a long time for operators to recoup their investments in network coverage and capacity, because the great majority of Latin American mobile users prefer the prepaid system, with relatively low monthly ARPU.
We divide mobile applications into four main groups: personal productivity and organizing; media/entertainment; enterprise; and gaming
With the digitalization of every thing and technology being so prominent in our lives, banks went online. Internet banking revolutionized the way banking was done traditionally. It brought banks to our desktops. As per the sources, mobile users have surpassed the number of Internet users (and blew past wireline telephony!). So banks needed a lucrative technology to target these users. The call of the time is to present themselves as more user friendly and oriented to serve them how and when required. The banks came with the option of mobile banking. The mobile brought the Internet to our pockets.
Mobile banking is getting wider acceptance and people are really hooked to the ease and convenience. But it has its own share of risks. Nothing comes so easy and so this technology has its own safety threats linked to it. It is very important to be aware deploying mobile banking in a secure and a positive user experience. With our customers, we provide the safety tips while their customers use mobile banking channel to serve their needs as a medium for financial transactions.
Our Focus in Mobile Banking
Our focus in the Financial Services segment is in Mobile Banking as a services channel. We advise and deploy with our customers wireless technologies to create a services channel for banks and other financial institutions to differentiate their offering as well as reduce the costs associated with fraud and customer service.
We provide pour expertise in financial services and telecommunication by identifying and challenging the promise of technology to be relevant with the business of our banking customers. This includes evaluating bank's service channel or multi-channel offering, best practices, technologies in place and technologies to place, and the face the bank will have with its customers. When we reference Mobile Banking, we point out that the mobile is the the terminal or as consumers term it "cellular phone" that is portable and has form part of our attire which has financial decision power in the place we find ourselves. So, Mobile Banking in summary has the services normally found in Internet Banking plus more that include:
- Account and security alerts
- Fraud prevention
- Reminders for billing and bill payments, and Funds Tranfer
- Account balances, transaction updates bank related such s credit cards, and non-related such as mortgage or car payment, history and claims...the stickiness to customer loyalty
- Emerging Mobile Instant Messaging Customer Channel
- Location Based Services for identification and securitization of ATMs and Branches
- Emerging services: Proximity payments (mobile phone-to-cash cash register), Digital Coupons and Receipts, 1-Button Mobile Commerce, Stateless or Seamless Banking Sessions
To learn more about this service, please contact us at info at groupmab dot net.
Where do We Bring Value
As we gained years of successful experience in mobile and consumer marketing spaces, we are active in the creation of mobile ecosystems and their variations that supported the value of many different types of consumer brand companies in the wireless space. Hence, we believe that we could inject value towards your mobile branding efforts such as the U.S. Hispanic Prepaid Market. The mobile pre-paid space is a "white space"; that is, it's a fresh subset of mobility that can provide a stream of reliable and profitable revenues. To that, our services are designed to deploy a shorter and closer consumer-to-company relationship so that these very companies do not experience disintermediation by the mobile ecosystem from faster and agile corporations.
business goals aligning technology's promise
Prepaid
Our focus is on the U.S. Prepaid Market pursuing a market niche into the U.S. Hispanic community that includes Consumer-to-Carrier-to-Consumer-to-Carrier Prepaid Top-Off. We serve this market using our Recharging Services brand, Recarquito®, that is a service to the mercadito and QSRs in the Hispanic communities they serve. The service, Recarquito®, allows U.S. Hispanics to add monetary value to mobile services for friends and family within the United States and in Latin America. Its more like digital remittances to Latin America.
Mobile Prepaid Services
The ever growing U.S. Hispanic population and its dominant purchasing power have created a consumer behavior that is unique and powerful throughout the world...International Transmittals. The 42 million U.S. Hispanics with $710 billion in purchasing power generate a thriving $37 billion of money transfer business into Latin America. Simply, the volume sent exponentially engenders economic growth in many Latin American countries enabling the creation of new business.
At Groupmab, we are focus how payments systems in the wireline world will affect people who are nomadic in behavior (always on the move, hence "mobile"). We believe communications services providers and financial institutions (our "segments") will need to provide for their customers the ability and accommodation to allow them to transact their business in real-time and in an always-on, always-mobile state. To this in mind, we serve the communications needs of these two segments honing on the U.S. Hispanic and Latin American Markets.
The services we provide to the segments are: 1) Remittances by U.S. Hispanics to their Latin American family and friends, and Prepaid Telecom Servives, and; 2) Mobile Financial Services for U.S. and Latin American segments that includes mobile banking and related financial services.
Remittances and Prepaid Top-Off
We serve these segments through our Mobile Prepaid Services Platform and Service Channels where provide a two-tier service to our primary constituents: the Hispanic consumer through small Hispanic retailers. In the case of remittances and prepaid top-off, our service provides a process for all U.S. Hispanics the ability to fund mobile and long-distance communications services for their family and friends in the United States and in Latin America without ever needing to step into a bank or money transfer agency, or into the large retailers. We serve the needs of a specific niche within the U.S. Hispanic Market focusing on security and peace of mind to freely enact on conducting a safe and reliable prepaid service. Together with our Sales Channel and our real-time prepaid service technologies it allows U.S. Hispanics to conveniently allocate funds to their loved ones mobile service and to fund any necessary long distance telephone calls crediting their in-country communication services.
For our Communications and Financial Services Providers, we help these segments by either helping them to develop from scratch a financial offering that includes prepaid products and financial service systems, or help to align and calibrate their current offering so that it services the needs of their constituents. In both ways that we help, we use our 360° view of their business so that together we can have a total view and the affect of launching a new financial service or recalibrating it for a new launch. We work with specific technology enablers whom are under our opinion are not jsut elading edge but provide the best return on price/performance. Below is a summary of how we are involved in mobile financial services.
Risks and Vulnerabilities...Revenue Leakage
When the bank's business units require a channel services strategy for launching Mobile Banking, we advise and counsel the banks in the process and thought leadership that is required to deploy this new service that will complement the bank's other services channels. One strong focus we spend considerable amount of time is security and the user experience associated with Mobile Banking. We have seen too many banks who have done well to deploy their Mobile Banking channel, but do not realize the vulnerabilities with the role of messaging (SMS spoofing) and short range communications (Bluetooth "000') have in all wireless networks as well as the mobile devices that could compromise the security of the mobile service channel. We know of these inherent risks and the incumbent exposure a bank could have as at Groupmab our professionals have the blended and necessary expertise to ascertain these vulnerabilities. Our professionals come from banking and telecommunications industries where they understand deploying security methodologies while sustaining a positive user experience. In all, we help the bank's Information Security Office and Risk Managers as well as the business units to develop well-thoughtout business rules that mitigate risks/perils while running a positive banking customer relationship experience.
