A COMPREHENSIVE E-SAVINGS SCHEME: A JOURNEY TOWARDS MOBILE WALLET

Group name: BUET Team Leader:

Md. Zunaid Baten,Lecturer,EEE, BUET

Enrooters

Members:
Syed Bahauddin Alam Shakhawat Hosen Tanim A B M Rafi Sazzad Md. Nazmus Sakib EEE URP EEE EEE

Project Overview
Collaboration between telecom & financial sector Existing technology based e-transaction

Novel concept: e-Load Center

towards Our Mobile Business Solution Wallet

e-Savings & transactions for all income group

Promotional concept : My Savings

Situation Based Solutions

Most people bereft of banking services: only around 19 SOLUTION million bank accounts in the country A comprehensive IT based solution for attracting more people to enjoy banking services

Cellular communication, though almost SOLUTION ubiquitous, not being extensively utilized for monetary transactions

To bring the advantages of etransactions for more than 50million cellphone users
3 Contd.

Situation Based Solutions

Culture of savings missingSOLUTION among all income groups A business strategy with the vision of inspiring savings

Requirement of sophisticated cell phones, technology or SOLUTION high speed internet for e-Transactions

Dissemination of etransaction using even the simplest mobile phones and technological infrastructures
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Business Strategy
Collaboration User level integration
e-Load centers Monetary transaction Additional services

Mobile wallet

Collaboration
One to One model
Bank
Mobile company

One to Many model

Mobile Company2 Mobile Company1 Mobile Company2

Bank

Contd.

Collaboration
Many to many model:
Mobile company1 Bank1

Bank1

Mobile company1

Central server
Bank2 Mobile company2 Bank2 Mobile company2

With central server

Without server
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User Level Integration

Registration:
Requirements
GSM/CDMA mobile sets GPRS/EDGE based net connectivity (Optional)

SMS Sent SMS Received SMS

*short code *national id* branch code#

A/C successfully created. A/C no: Pin:

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Monetary transaction
Monetary transaction

User & Bank

User & User

e-Load centers

From Bank
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e-Load Centers
Authorized outlet for transferring cash to clients bank accounts Any mobile balance recharging center (like Flexiload of Grameenphone, i-Top up of banglalink)

Collaboration

Cellular E-load Commu Bank(s) Centers nication E-transaction to E-transaction to bank account bank account

Bought package

E-transaction to bank account Client

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Money Withdrawal
Verification Bearersent byto bank Confirmation with pin SMS of pin client Money withdrawal Confirmation Tk code: Security Account has been No* matched PIN*Amount successfully Amount: matched *Branch code withdrawn from Account no: # your Account matched no. *Short code *

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User to User Transaction: Mobile Wallet

One mobile no wallets User might be individual or institution Any GSM/CDMA mobile phone will do(JAVA applications not necessary) Already expanding concept in the world(providers: Accenture, Fundamo, MSC etc.)

Ticketing Bill pay Shopping Restaurant

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IT usage

GSM/CDMA mobile communication GPRS/EDGE based internet conncetivity Mobile set for the end users Servers Balance transferring software Digital Watermarking

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Registration
Request 1 Request 2 Name National ID Confirmation1 Name Banking Confirmation2 Mobile National ID Server User Name Server PIN No. National ID A/C No. PIN No. A/C No. Name National ID

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Money Depositing
A/C No. Amount Users A/C No. Amount Request 2 Mobile server Banking servers

Request 1 e-load centers A/C No. Amount

Confirmation2 Name Amount Date

Confirmation2
Name Amount Date

Confirmation1 Name Amount Date

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Balance Transfer
Bank Servers

Confirmation Confirmation

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Security System : Digital Watermarking

Key

Original data Embedding

function

Channel

Extraction function

Information to embed

Retrieved information
^

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Business Process
Registration(through Opening account Money depositfixed(eSavings or with My savings current account) e-loads centers) Mobile account

e-transaction : Mobile wallet

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Cash Flow & Cost Benefit

Banking Service Service Charge

Bank sectors

Registration fees

SMS charge registration

Telecom sectors

Service charge

Transaction fees/institution) Loan Based on Data Mining

(individuals

Users

Transaction fees
Balance checking fees

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Promotional Concept : My Savings

Slogan of My savings or by the distribution of piggy banks for each registered clients

Objectives
To encourage saving any amount of money. To increase overall saving

To boost our pottery industry

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Real Life Implementation

Based on existing technological infrastructure(GSM/CDMA based) No sophisticated mobile phone required

No additional establishment cost for e-load centers

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Real Life Implementation

National ID cards and machine readable passports will give digitized information about the identity of each individual Collaboration between telecom and public/private sector already exists

BillsPay between GP & PDB, Titas Mobitaka between GP & Bangladesh Railway EasyPay between GP & HSBC Internet Banking between GP & Dutch Bangla Bank and Eastern Bank Limited Cellbazaar feature provided by GP

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Contd.

Limitations
Network coverage compulsory Intra/Inter connection delay Not all mobile users are well accustomed to text messaging Security concerns

However..

Mobile communication almost

ubiquitous in the country 3G communication to expand in Bangladesh hence better security expected

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Thanks to all

Special thanks to.. Mr. Md. Bashir Ahmed, Bangladesh Krishi Bank Mr. Zakaria Kabir, HSBC Mr. Golam Kibria, Standard Chartered Bank Mr. Shamsujjaman Rupu, Banglalink Mr. Ariffuzzaman Mithu, GrameenPhone Mr. Khaled Imtiaj Saad,Robi (AXIATA) Mr. Hasan Morshed, Sony Ericsson Mr. Syed Kutubuddin Alam, First Security Bank
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Q/A

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