mTransact OVERVIEW

mTransact is a cost effective, comprehensive and functional mobile banking system. Three levels of deployment have been developed to suit all bank clients, from those still utilizing first generation mobile phone technology to those using smartphones.

The following deployment options are available:

• Optimised web browser for newer broadband connected phones
• Downloadable WAP system which will run on the handset
• Mobile text based banking

Banks are able to utilise one or more of these solutions in the implementation of mobile banking. All three options interface directly with the SATSO iTransact internet banking system.

The diagram below illustrates the implementation configuration of the product…

The underlying iTransact system is able to run on the existing bank hardware in its entirety or can be run separately on a database and application server.

mTransact STRUCTURE

mTransact has been developed to interface directly with the iTransact system. This allows all of the features of iTransact to be exploited if there are specific bank requirements. iTransact has been designed to integrate with any core banking system.

Due to the variances in cellphone technology in use by the bank customers as well as the variances in cellphone technology available from country to country (or even regionally within a country), SATSO has implemented 3 separate mTransact implementations. The bank will be expected to implement only one of these options. These include

1. Mobile Text Banking – This implementation caters for basic transacting including:

• Client verification
• Checking of account balances
• Transfers between a client’s account
• Payment to predefined client beneficiaries.

The interface is command line driven and will require 1 or more SMS transactions in order to execute a transaction. A User Guide is available to assist the bank’s client in the banking process. The bank is required to register with a Mobile Text service provider. Bank clients will pay for each mobile text sent.

2. Mobile Phone Application – Banks are provided with a downloadable WAP application that will run on the client’s mobile phone. This application provides a menu driven interface which can run on the majority of available mobile phones. Navigation through the application is facilitated by a character based menu of functions available. The bank is required to register with a WAP service provider. Bank clients will pay for network traffic utilized in the transmission of data between the system and the WAP service provider.

3. Browser Based Banking – iTransact (Satso’s premier internet banking product) includes a .Mobi interface for optimized browser based access by mobile phone users. This component provides all of the banking functionality of the underlying iTransact internet banking system. Mobile phones need to be broadband enabled and browser capable in order to utilize this system. The bank clients will pay their service provider for bandwidth utilized.

The “Model – View – Controller architecture of the iTransact system, allows the mobile banking system to interface directly with the iTransact system, thereby ensuring that

• all bank controls are applied universally.
• all ITransact features are available to mTransact.
• the system provides greater reliability, consistency and accuracy.

This option is only for clients running the SATSO iTransact internet banking system.

mTransact IMPLEMENTATION

mTransact utilizes different technologies for the 3 different implementations of the system.

1. Mobile Text Banking – Uses a standard keyword based, mobile originated text message to interact with the iTransact system. iTransact decodes the message and executes the relevant instruction. Each transaction type supported will potentially require its own message format e.g.
   a. “keyword”, transfer account 1 account 2 amount
   b. “keyword” pay account 1 beneficiary1 amount
   mTransact will issue mobile text based confirmations or error messages. Mobile text notification messages will also be issued by iTransact as configured in the internet banking system. Only basic banking functionality is available on this platform. No maintenance (e.g. addition of beneficiaries) will be supported.
2. Mobile Phone Application – This Java based application has been developed to run on a number of mobile phone operating systems. The application generates standard messages to the underlying iTransact system which decodes the messages and executes the relevant instruction. The application is supported with a menu system for all available functionality which obviates the need for the bank client to understand the various message formats as in Mobile Text Banking. mTransact will issue mobile text based confirmations or error messages. Mobile text notification messages will also be issued by iTransact as configured in the internet banking system. Full banking and basic maintenance functionality is supported in this implementation.
3. Browser Based Banking – Any of the standard mobile phone browsers may be utilized to interact directly with the iTransact system. The browser will link to a .Mobi site in order to utilize the mobile phone optimized interface of iTransact. All iTransact functionality is available on this platform. However this option is only for clients running the SATSO iTransact internet banking system.

mTransact BENEFITS

Some of the benefits in selecting mTransact are:

• Enhanced customer convenience.
• Ability to offer banking with minimal infrastructure expenditure.
• Available to customers with no internet access.
• Cost effective