BFSI VISION | Mobility


Nilesh Shah

CEO, Accely IT Services

Suggested models for offering Mobility services

The banks and other financial institutions are adopting wireless carriers to offer a new breed of integrated financial products from the convenience of the user's mobile phone. Building a good financial model isn't easy and many companies spend many hours trying to get their financial model just right. The models used in financial institutions differ from country to country therefore a service provider has to create a business model that is congruent with the general and the specific environment of that country.

The model chosen depends on the regulatory environment, access to brand name for marketing of services as well as the financial strength.

The following are the models that have been used by various financial institutions across the globe:

Bank led Model
This model offers a distinct alternative to a branch based banking. The customers can conduct financial transactions through their mobile phone instead of a bank branches or through the bank employees. This model promises to increase the financial services outreach by using a delivery channel distinct from a traditional banking and is significantly cheaper than the bank based alternatives.

Mobile Network Operator led Model
The MNO service extends the wireless networking functionality to provide payment services that enables the customers to remit funds to each other through the MNO's established agent network. This model is highly effective in bringing informal cash transactions into a form of formal financial system expanding access to the financial services.

Hybrid Model
Hybrid model comprises of a bank, MNO and a third-party that offers communications and financial transaction services combined with pure bank and pure MNO models. Such a hybrid model are not limited to Bank Model, Government Provider, MNO Model etc.

Every mobile deployment is different. However, there are some highly important factors that decide the success of your mobile deployment.

  • Don't treat the mobile deployment as just a technology purchase

    Often we see many failed projects and not meeting our expectations because they are treated like any other IT technology deployment and some very important aspects are overlooked. When you are deploying a mobile project you are actually mobilising and automating a business process. So, have a holistic approach and look at the overall context of your business and then choose the technology that allows you to perform your business processes effectively and efficiently.

  • Discover the right device, app and network combination before deploying

    Choose a wise device type, application and the network provider. Invest some of your time and effort in testing and trialling different device types, applications and network providers. You might discover that the application you want to have doesn't work as it should on some devices or maybe there are some issues with the devices. The trialling and selection process will help you to choose the combination of device, application and network which makes this process as efficient as possible and will be the right choice in the long run.

  • Keep your device configuration as consistent as possible

    Once your device is out in the field and used by the staff members for performing vital business processes, how do you stay in control? The answer is MDM which fixes the devices remotely and keeps the end-user up and running. However, it is necessary that both your MDM solution and the helpdesk staff who use it take all the vital steps to keep the device configuration as consistent as possible. The security and compliance issues should be taken into consideration while configuring your mobile device and if any issues persist they should be taken care off.

    Mobility has given individual the freedom to work anywhere at any time. To address the broader requirements of today's mobile workforce it's important to begin with a clear understanding of the evolving application landscape.

    Traditional enterprise applications plays a vital role in the organization and supports variety of business processes. They provide a broad set of functionality and a robust user interface to perform interactions with the large set of data including highly sensitive business information.

    Web apps are very popular as organizations looks to implement applications that are available from anywhere. These applications run on a web browser and are created using browser supported programming language. They rely on the common web browser in order to render the application.

    Mobile apps are enterprise applications that run on the mobile devices such as tablets and smartphones. Mobile apps often exist in multiple versions each built for a different mobile operating platforms such as android, iOS etc. They offer more narrowly defined functionality and are lightweight in design. They pull a small data set across the mobile network to the mobile device and sends commands over the mobile network to a backend database. Also, the mobile app can be usable in offline mode.