Banking: The Mobile Way Presented By: Subash Sharma Vice President (Product Development) F1 Soft

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 BAL Mini Statement LT Fund Transfer FT Bill Payment PAY

Then Came the Applications

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

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.

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

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

Thank you Bank