Financial institutions need to address key issues such as cost of mobile banking to the consumer, and could consider partnering with mobile network operators to address this issue. Moreover, before taking this step, banks need to assess the nature of the service they should offer. Mobile banking services should be of low-level functionality and intuitive to the user. This will be a key consideration since there is an existing high penetration rate of mobile phone users worldwide. 

Lemon Way solution for Banks enables them to offer their retail customers a range of banking and payment services, such as balance inquiries, interaccount transfers, bill payments, and prepaid airtime purchases using mobile devices.

Lemon Way solution

Wonderbank software offers a comprehensive mobile banking service for retail customers, including account balance inquiries, transfers, bill payments, and user alerts.

With over 90% mobile penetration rates in Europe, banks are increasingly looking to use SMS as a business communication tool. Mobile is rapidly becoming the fifth channel to reach customers, buildling on the existing channels which include branches, ATMs, Internet banking and phone banking.

With over 60% of Europe frequent Internet users interested in mobile banking services, there is a significant opportunity for banks to take up mobile banking to connect with their customers.
Wonderbank offers an end-to-end solution with a single platform for fully integrated self-service banking transactions and a centralized point of reference for support, upgrades, and administration. This enables your organization to focus on customer service and the future of your self-service banking with the confidence that one vendor will support your next-generation plans.

Wonderbank security configuration

Customer authentification is important, as well as data privacy protection. Security is organized into different layers: the data itself, stored in the mobile phone memory for example, the protocol of transportation and its different layers itself including TCP layers and Operator transportation; the software itself. Attacks scenarios and defense procedure are redundant within each layer for a better protection. We use a mix of public domain algorithms as well as in-house cryptography specific code to transmit data over the air. As for security reasons, we do not specify on our web site the detailed technical characteristics of Wonderbank Mobile.

Wonderbank functionalities

• Secured login
  Balance enquiries
  Account detail
  Operation detail
  Funds transfer
  Bill Payment
  Fraud Alert
  Quotes
  Line / candelstick /bar chart
  Alerts
  History
  Portfolio
  Advanced search
  Market selection
  Top Flop
  Bank specific features
  Bank logo
  Graphic customization by user or bank: splash screen, skins.

Wonderbank Advantages

• Enhancing customer service by offering convenient, secure and on-demand mobile banking services
  Reducing fraud
  Provide security
  Cutting overall communication costs
  Generate Revenue Deliver marketing campaigns with context-specific information and offers
  Gain Competitive Edge
  Integrate Once
  Additionally, this new channel gives the bank ability to cross-sell up-sell their other complex banking products and services such as vehicle loans, credit cards.