Covid inspired digital boom has changed how people live and work

No matter where, we are only really starting to come to terms with how fragile our economies and societies really are…

Many banks have experienced a ‘Digital Boom’ during the Pandemic – this hasn’t changed how people live and work, it is changing how people want to live and work

Online Training builds strong teams because it’s easy to do; tailored to the team’s unique needs; is less stressful, more engaging and delivers great results

13 Reasons why Banks will be around a lot longer than the experts predict or why Resilient Banks beats Fintech Smarts (almost) every time…. ‘Experts’ who forecast the Death of Banking with the same conviction that Fundamentalists predict the Apocalypse, are very much mistaken. There are at least Thirteen Reasons Why* this won’t happen that I can think of off the top of my head (though there are probably many more). So here goes… First – Payments is not the same as banking. Almost all such arguments that banks are failing customers appear rooted in the observation that some customers (ie. millennials*) either don’t like dealing with, or don’t think their banks doing enough to keep them happy. While there may be some truth in this, the way we experience Banking is usually through our cards, accounts, ‘wallets’ or devices . Like the mobile phones we use to pay for stuff, and conduct our finances. One can see why some folks could confuse confuse the two. But conflating the two is anothr matter entirely. To think that Payments and Banking are the same and concluding that customer demand for convenient ‘payment’ methods, and ‘Banks’ apparent slowness to respond, is somehow Read more…

Just a few of the banks and organisations that Solveworx has worked with

Hacker surveys mobile landscape

Mobile banking continues to demonstrate its potential to fundamentally change the way banks in developing markets engage and deliver financial services

The runaway success of early operator mobile money products in East Africa held out a future for MNO’s eager to generate new revenue streams, beyond voice and data by boldly grabbing the public mind and private purses of previously low and UN-banked emerging market society. These services have become a much-referenced ‘gold standard’ of not only what mobile technology and financial services can achieve in emerging markets. Four years on, with over 200 mobile operator mobile money services around the world, how successful have these services been? Research by the Mobile Money Unit of the GSM association, GSMA MMU suggests that while the MNO’s have enjoyed varied levels of success with mobile money in emerging markets, their overall impact and success remains a bit of a mixed bag. The survey sampled 52 MNO mobile money (MM) services from the 150 MM services around the world. It included 11 in East Africa (including Safaricom), 13 in West Africa, 15 in Asia/Pacific and 8 from Central Asia and the Middle East. (I would strongly recommend reading the survey for yourself). It makes for fascinating reading because it brings into sharp relief several elements that should cause every mobile money executive to sit Read more…

e four winning ingredients outlined in the previous post has shown again and again to place Banks in a leading position by taking charge of its own destiny through a Bank-Led approach to mobile banking…

The key to building a winning mobile banking proposition is to grasp the key elements that have led to bank-led mobile banking success in emerging markets in sub-Saharan Africa and Asia.

USSD (Unstructured Supplementary Service Data), has enormous potential to deliver new products and services to mobile customers in the Pacific, but has yet to come into its own as a mature, fully-fledged service. Like SMS, USSD has a low barrier to entry for subscribers and customers. It is intuitive, menu-driven and works across all handsets, yet unlike SMS, USSD services and availability varies greatly across Mobile Network Operators (MNO’s) and regions in the Pacific. “Just about every handset made in the last 10 years handles USSD sessions and menus, and all GSM handsets will at least handle basic USSD, which is why this is a popular service for top-ups and balance inquiries” said Gary Collins, Head of Mobile and InStore banking at Westpac Bank. “It requires no special handset functionality, so customers don’t need expensive java-enabled smartphones, or pre-loaded Sim-cards. From a mobile customer point of view, it is ready out the box”. USSD mobile banking in Africa and Asia is mature, making it an exception. It is used in many countries to great effect to deliver a range of sophisticated MNO and third-party customer services including banking and airtime recharge. In Tanzania, MPesa is driven by USSD while in Read more…