By: Camilo Ramada Roder van Arkel Dr. Shahadat Khan Cyclos: Independent Online and Mobile Banking Platform

Social Trade Organisation STRO (Social Trade Organization) Foundation of STRO Focus on monetary issues since the early nineties Development of monetary methods Development of Cyclos software Objectives & motives The vision of Mervyn King, governor of the Bank of England. Optimize the circulation of purchasing power in local communities and regions Create innovative solutions that increase the purchasing power through new forms of money and credit

From conventional banking to economic innovations Activate unused/spare capacity for SME’s (PuntoTransacciones) C2C and C2B transactions E-commerce Communication platform Solution for taxi companies (C3 Uruguay) Integration with taxi central communication system (GPS) Facilitating administration. Social currencies (Brixton pound) Local credit Stimulate local trade Stronger local cohesion Banking the unbanked (Progoti) Branchless banking Entry level mobile services for agents and clients

The Cyclos platform Cyclos project Project history, present and future Why Open source? Support & funding Payment platform Double entry transaction system Dynamic accounting structure Modules Marketplace (e-commerce) Brokers, loan agents, operators Alerts, notifications and messaging system Business qualifications, transaction feedbacks CRM module Access channels Web POS (Point of Sale), credit/debit cards Mobile (SMS, USSD, Smartphone) Interfaces (API)

Cyclos design Objectives Secure Flexible User friendly High availability, data integrity, performance Open Open Source Build on open platforms Independent (not bound to providers - do it yourself) Building extensions Join the project!

About Progoti Systems Leading software developer and mobile financial system provider in Bangladesh A team of technology and business veterans Extensive global and local experience from diverse industries Offers end-to-end mobile financial solution and service Products and platform Professional services and system integration SureCash banking network - hosted service for banks and other partners

SureCash Mobile Banking Network by progoti Systems BanglaLink Banks Robi Utilities Merchants Insurance NGOs/MFIs Post Office TeleTalk Retail Agents Financial Service Mobile Financial System SureCash Airtel CityCell GrameenPhone

SureCash Implementation using Cyclos Data Access Objects (DAO) Hybernate Web-Services CXF SC Web- Services (REST) SMS Application SMS Application USSD Application Web Application Web Application USSD GW SMS Server SIGTRAN Mobile Operators Customers & Agents Cyclos Bankers & Management Database Bank Software

SureCash Mobile Banking Network Connectivity IN Teletalk STP SMSC Customers & Agents Payment Partners Payroll Billers Retailers Insurance Bus ticket Mobile Financial Service Platform USSD Gateway MFS Platform MFS Platform CBS Banks Other MNOs SIGTRAN

Mobile Banking Using SMS plus USSD Push USSD App. Server VAS Server mBanking Server (a)Send SMS “SND ” to short code SureCash System (b) Customer Bank Works with all GSM operators. End-to-end security using own USSD gateway. Teletalk SureCash Send Money: To: Amount: 2, taka Enter PIN to confirm. (c) Push USSD Message

Financial Inclusion Using Mobile Banking in Bangladesh Total population Mobile coverage (60%) Banked – now (15%) Mobile banking National ID card Financial awareness from micro-credit Very large inward foreign remittance & 2 million garments workers Encouragement from Bangladesh Bank BTRC aligned with central bank

Withdrawal at Agent Using USSD Request Withdrawal Request Commit Agent Customer mBanking Platform WalletValue Agent Customer Fees Commission Get Confirmation Notify Database 5 1 llllllll {ll] *5678# OKClear LlllLlll {ll] SureCash Mobile Banking 1 Withdraw Customer Cash 2 Deposit Customer Cash 3 Open Account 4 Bank Cash-in 5 Bank Cash-out 7 Check Balance 8 Report Available Cash 9 Change PIN ReplyCancel llllllll {ll] 1 OKCancel llllllll {ll] Withdraw customer cash - Please enter customer wallet number: ReplyCancel llllllll {ll] OKCancel LlllLlll {ll] Please enter amount to withdraw: ReplyCancel LlllLlll {ll] 5000 OKCancel LlllLlll {ll] Processing… Wallet: Amount: 5,000 taka Please enter PIN to proceed: ReplyCancel LlllLlll {ll] OKCancel LlllLlll {ll] Transaction successful: Wallet: Amount: 5,000 taka TXN ID: P Current balance: 30, taka OKCancel LlllLlll {ll] Withdraw cash request – Amount: 5,000 taka Please enter PIN to confirm: ReplyCancel LlllLlll {ll] OKCancel LlllLlll {ll] Transaction successful: Amount: 5, taka TXN ID: P Please receive cash from agent. Current balance: 17, taka OKCancel Notify Confirmed 6a 4 3 Pay Cash 6b 7 Processing… Wallet: Amount: 5, taka Please enter PIN to proceed: Please enter amount to withdraw: Withdraw customer cash - Please enter customer wallet number: SureCash Mobile Banking 1 Withdraw Customer Cash 2 Deposit Customer Cash 3 Open Account 4 Bank Cash-in 5 Bank Cash-out 6 A2A Money Transfer 7 Check Balance 8 Report Available Cash 9 Change PIN Withdraw cash request - Amount: 5, taka Please enter PIN to confirm:

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