really becomes exciting with the addition of active two way interaction between the end user and their finances held in your financial institution. Allowing them to 'Be Mobile' with your banks services, allowing them to make basic pre-defined financial transactions without cueing up in a branch. The second level includes these exciting features
- Electronic Billing Prompt payment for utility payments
As with level 1his feature allows for a simple short message (SMS) to be sent to the registered client's mobile telephone alerting them of an upcoming bill payment, giving them all the information they require such as amount, institution, bill reference number and due date. The end user now however will be able to make that payment quickly and easily from wherever they are quickly and easily from funds in their personal savings account.
- Payment based on contract
Prompt to end user to approve static payments from savings account, allowing the client to decline or approve the transaction, confirmation messages sent back to notify the user that preset financial transactions have taken place with confirmation number. Particularly useful for static transfer amounts like rent, loan repayments or insurance payments.
- Transfer between pre-nominated accounts based on clients preset conditions
Allow your end users to set nominate other accounts which funds can be transferred into via SMS messaging for example, transferring money to a family member i.e. student who also has an account with your financial institution or an institution you have a relationship with.
- Customer tracking and activity application
Tracking of the client's behaviour at this level is extremely important for your institution to determine the return on investment
is providing whilst helping you to tailor your services to meet the end user's needs improving customer retention through superior services
level 2 in addition to all off these new features still retains access to the full feature set included in level 1
- Electronic billing information on utility payments
- Bank account balance information
- Information on transactions based on preset conditions
- Short financial education course to bank clients
- Information on interest and foreign exchange rates
level 2 is the first step to a fully automated fully interactive mobile banking solution, keeping the end users needs in mind taking small steps to build confidence, the cost effective, modular approach to mobile banking is sure to improve transactions, customer satisfaction and open many new revenue raising opportunities for your financial institution.