Mobile Money Conference EBRD, London 14th March 2013 · WAP and APP Channel •View exchange rate,...
Transcript of Mobile Money Conference EBRD, London 14th March 2013 · WAP and APP Channel •View exchange rate,...
Presenter: Mr. Loeung Sopheap
Senior Vice President & Head of
Product Development Division
Mobile Money ConferenceEBRD, London14th March 2013
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ACLEDA Unity
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Challenges of introducing Mobile
Money and how to overcome them? and
How to drive consumer adoption?
Slide Outline
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• About Cambodian Market
• About ACLEDA Bank
• The Objectives of ACLEDA Unity
• Phase One – Existing Customers
• Phase Two – Underserved Consumers
• Infrastructure and Architecture
• Key Challenges
• Overcome the Challenges
• Drive Consumer Adoption
• ACLEDA Unity in the Future
About Cambodian Market
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85% of Cambodian have no access to financial
services at all.
1/4 of Cambodia’s live on $1 a day
Half of population is under 25 year of age
For the past 3 years average economic growth
by 7% and 2013 will be 7.50%, estimated.
About ACLEDA Bank
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Our Vision - to be Cambodia’s leading commercial bank providing superior
financial services to all segments of the community
1. Founded in 1993 as ACLEDA NGO
2. The largest bank in Cambodia (31/01/2013)
• Total Assets > 2 billion US$,
• Total Deposit >1.4 billion US$,
• Total Loan Portfolio > 1.3 billion US$,
• NPAT > 64.2 million US$, (31/12/2012)
• Employees > 7,700,
• Customers > 1.2 million
• 238 office network,
3. Four subsidiary companies:
• ACLEDA Bank Lao Ltd.
• ACLEDA Securities Plc.
• ACLEDA Training Center Ltd. and
• ACLEDA MFI Myanmar Co., Ltd.
ACLEDA Unity – Our Objectives
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First 24/7/365 Channel for Customers
Anytime, Anywhere Safe and Convenient Access
Key Objective - to secure existing customers base while attracting
new customers through differentiation
Banked and Never banked Consumers
Appropriate Controls & Risk Management
Cash Out @ Branch, ATM & Offline Offices
Phase One – Existing Customers (1)
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Target customers All ACLEDA Bank existing customers including
depositors, borrowers, money transfer users,
insurance policyholders, individual and corporate,
and those who has account with ACLEDA Bank.
Account link Formal bank account
Channel SMS, WAP, and/or APP
Mobile phone Smartphone or feature phone (not smart)
MNO Any mobile network operator
Language English or Khmer
Currency KHR, USD, and/or THB
Services offering via SMS
channel
• View exchange rate,
• View account balance, and Mini statement,
• Mobile top up, and
• Request WAP link, and Help request
Phase One – Existing Customers (2)
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Services
offering via
WAP and
APP
Channel
• View exchange rate,
• View account balance,
and Mini statement,
• Own account transfer
• Person to person
account transfer
• Bill payments –
Electricity, Water Supply,
and other utilities bills,
and
• Mobile top up.
Phase Two – Underserved Consumers (1)
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Target customers Customers who use other bank services and consumers
who never use any banking services before. E.g.
Workers, famers, and family money transfer
Account link Mobile Wallet Account which is the Mobile Phone number
that is fully registered for ACLEDA Unity
Channel SMS, USSD, WAP, and/or APP
Mobile phone Smartphone or feature phone (not smart)
MNO Any mobile network operator
Language English or Khmer
Currency KHR, USD, and/or THB
Services offering via
SMS channel
• View exchange rate,
• View wallet account balance, and Mini statement,
• Mobile top up, and
• Request WAP link and help request
Phase One – Existing Customers (2)
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Services offering via
USSD, WAP and APP
Channel
• View exchange rate,
• View account balance, and Mini statement including
mobile wallet account,
• Own account transfer,
• Person to person account transfer,
• Transfer to/from mobile wallet account,
• Transfer to mobile phone number (unregistered
phone),
• Bill payments – Electricity, Water Supply, and other
utilities bills,
• Mobile top up, and
• ATM cash withdrawal without using ATM card.
• All ACLEDA Unity users can deposit to mobile
wallet account, make loan repayment, make
insurance premium payment, and make payment to
credit card account etc.,
Phase Two – Underserved Consumers (3)
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Mobile Wallet
Accounts
Personal
Payments/Transfers
ATM Cardless
Cash Withdrawal
Infrastructure and Architecture
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SMS
USSD
Browser
App
Enrollment & Customer Care
Branch/Agent(Online & offline Teller)
T24 CoreCustom API
Value
Manager
ATM Switch
IOS8583IOS8583
IOS8583
Reporting /
Diagnostics /
Administration
ATM(Cardless withdrawal via ATM)
Biller
Biller
Biller
Biller
Web Service
Offline interface
Control Center
Key Challenges
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Regulatory & Compliance:
License/Approval, AML & KYC
Multiple currencies and Multi languages
Lower literature rate
7 Mobile Operators – Competition
High Tech, Self-service, and New to
Cambodia
Customers Care & Protection
Higher TCO => Higher cost for consumers
Key to Overcome Challenges
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Security
Registration
Authentication – PIN & OTP
Dynamic Risk & Velocity Check
Roles & Privileges
AML - Daily Limit
Max. Amt/txn, Max. Amt/day
Max. Txn/day
Bank Account & Wallet Account,
Unregistered Phone
KYC - Registration
Registration at Bank
Mobile Phone + SIM
National ID and Name
Maker & Checker/Authorizer
Customers Care & Protection
Management & Staff Training
User’s Guide/Manual
Call Centre & Support Team
Complaint Handling Procedure
Driving Consumer Adoption (1)
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Consumer Benefits
Safe & Convenience access,
Anytime & Anywhere
Save travel cost & no waiting time
Minimize risk of carrying cash,
cash counting & counterfeit note
Bank in your hand/pocket – online
& real time processing
Usability
Channel – WAP, APP, USSD, and/or
SMS
Device – Smart phone and feature
phone (not smart phone)
Any mobile network operator
Currency – USD, KHR, and THB
Khmer or English language
Full banking service – view
exchange rate, view a/c info,
payments & money transfer, and top
up and others.
Driving Consumer Adoption (2)
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Market Education and Promotion User’s Guide/Manual, Brochures
TV Spot, Radio/Talk Show
Call Centre and Support team
Face to face explanation
Driving Consumer Adoption (3)
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Launching Event Bill payment promotion Money transfer promotion
ACLEDA Unity in the Future
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General growth – adoption &
transactions
360o
Money Transfer – Local & Int’l
transfer, A/C Based & Cash Based
Extending through our Offline Offices
Extending through ACLEDA
Merchants
Merchant Payments
The behind building is under construction
Number of Customer Registered
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The Value & The Number of Transaction
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Mobile is Strategic in Every Sense
In particular the growth of our highly successful mobile
banking service, ACLEDA “Unity”, has enabled is to access
the previously unbanked and to become the leading
financial services provider amongst the paddy growers and
farmers in the remote rural areas.
Dr. In Channy, President and CEO, ACLEDA Bank
ACLEDA Bank Annual Report, 2012
22Question and Discussion