Gemalto selected to provide Colombia’s first SIM-based mobile banking service
Mobile banking solution introduced with banking network and GSM operators will boost mobile banking transactions
Gemalto’s mobile Banking solution includes a secure software application stored in the SIM (Subscriber Identity Module) card, a server and software that interprets the messages that are exchanged between the banks and the SIM. The solution offers security in the entire transaction process, since the messages are encrypted in the SIM chip and decrypted at the banks’ server, which translates the messages to a specific format.
Available at Comcel and the other Colombian GSM operators, as part of their value added wireless services portfolio, in coordination with Bancolombia and Banco AVVillas, through Colombia’s Banking Network, Redeban Multicolor, the mobile banking service is already exceeding stakeholders’ expectations.
"The m-banking menu is already available to more than 20 million GSM subscribers in the country. Our initial expectation is that 20% of this customer base will execute at least 5 transactions per month. The service is already generating demand, balance check and pre-paid re-charge being the most required services. A few weeks after the launch, the first results show a very successful uptake of the service with more than half million transaction making an average of 6 requests, per active user, per month. To us it clearly showcases the winning combination of the solution: convenience, ease-of-use, mobility and security", says Valentin Echeverry, Technology and Operations Vice-President at Redeban Multicolor.
"Gemalto’s mobile banking solution should trigger a significant benefit for the banks as it offers a new channel for customers to interact with them, while enabling an increase in data revenues and ARPU (Average Revenue Per User) for the operators. Moreover, users obviously gain in convenience and mobility as the banking services can be accessed at any time from any place with outstanding security", says Rodrigo Serna, vice-president Telecommunication for Gemalto in Latin America.
Gemalto (Euronext NL 0000400653 GTO) is the leader in digital security with pro forma 2006 annual revenues of €1.7 billion, more than 85 offices in 40 countries and about 10,000 employees including 1,300 R&D engineers. In a world where the digital revolution is increasingly transforming our lives, Gemalto’s solutions are designed to make personal digital interactions more convenient, secure and enjoyable.
Gemalto provides end-to-end digital security solutions, from the development of software applications through design and production of secure personal devices such as smart cards, SIMs, e-passports, and tokens to the deployment of managed services for its customers. More than a billion people worldwide use the company's products and services for telecommunications, financial services, e-government, identity management, multimedia content, digital rights management, IT security, mass transit and many other applications.
As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.
Gemalto was formed in June 2006 by the combination of Axalto and Gemplus. For more information please visit www.gemalto.com