MNS sharpens NBE's competitive edge through m-transactions

Through personalized, triggered SMS inquiries, Portex™, m-banking application, gives users round-the-clock access to vital account and financial information.

The introduction of the Portex™ application for NBE customers has shifted "m-banking" in Egypt and the Middle East from a simple phase of information delivery to a more-advanced transaction based service. As for the service providers, the mobile bill payment service represents an important edge in customer service. NBE customers now can receive their mobile-phone bill statements by SMS -- and pay the bill immediately, simply by replying to the notification.

From a customer perspective, meanwhile, the evolution of m-banking to this more sophisticated level puts previously undreamed-of freedoms in sight. The Portex™ bill-payment module is technically capable of handling any kind of payment from any kind of account. The NBE implementation is an achievement that represents not only a breakthrough for the banking industry but also a pioneering step in the development of "m-commerce" in the region.

"A huge profile of bank customers would like to do their banking via SMS. Now, it's a matter of what services are being offered. Technically we are prepared to handle any kind of transaction, but the push must come from banks."-- Hossam Megahed, President and CEO, MNS

Most importantly, mobile banking transactions offer a level of security that exceeds the stringent standards of modern banking. "Banks themselves tend to be ultra-cautious about security," notes Tarek Seada, technical team leader at MNS. "All mobile transactions require a simple but rigorous three-step identification process. First, SMS replies or requests must be sent from the correct phone number. Second the user must enter a 4-digit PIN. Final, verification comes by entering a segment of the relevant account number. This is more secure than over-the-phone banking" Seada explains, "and it also saves time." End-to-end security ensures that m-banking transactions feature the highest-possible level of protection.

The integration of Portex™ with NBE's existing "middleware" represents a considerable technical achievement for MNS. While the bank was already using credit-card management system, and IVR, Portex™ m-banking was implemented without the need for any modification to the infrastructure that was already in place. MNS technical experts spent two months on the NBE Portex™ project, including testing and fine-tuning of the bill-payment system. However, with this experience under their belt, they can quickly adapt the solution for other banks.

NBE's involvement promises to bring mobile banking to a new level of general acceptance, as thousands of new customers gain awareness of and access to the possibilities of banking on the run. MNS, the first in the region to introduce mobile-banking solutions, continues to be the market leader for new implementations, with an ever-expanding range of value-added features. Bill payment, along with modules for other mobile transactions, will be continuously enhanced to keep on par with rapid advances in communications technology. Meanwhile, the development of an ASP model promises to make way for more cost-effective implementations.