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Arius Suisse (www.arius.ch), a member of Best Vision Holding (“BVH”) and a leader in providing Suisse quality banking solutions, has acquired AsrBlue (www.ArsBlue.rs), a Serbian software company specialized in developing software for card, mobile and internet payment solutions.
BVH is an international group established in Switzerland in 2000. BVH consists of several entities, that operate in the banking and financial sector addressing three main areas:
Technology (definition and development of software and IT services supporting the core business of financial companies),
Services (focus on outsourcing, consultancy in the financial field, particularly in the definition of innovative services and optimization of operational and organizational processes) and
Finance (financial activities in different areas, such as trade finance, forfeiting, leasing, etc.).
The acquisition of ArsBlue is the key element in BVH’s effort to enrich its strong banking back office offer with innovative universal payment channel management that consists of two application software suits:
AsoftE2E, end-to-end card based payment application software products suite that provides card life cycle management (debit, credit, pre-paid, virtual, and mobile); flexible management of card portfolio and fast creation of new card products; authorization, authentication, fraud management and credit scoring; transaction processing, clearing & settlement, reporting and analytics; CRM (Customer Relationship Management), co-brand and affinity cards management, management of merchants' loyalty schema, marketing campaign creation and management, digital coupons; billing, bill consolidation, electronic bill presentment and payment (EBPP).
AsoftA2Z, provides the first-of-its-kind comprehensive software solution that enables financial institutions and independent service organizations to proactively and effectively manage their ATM, Kiosk, EFT-POS terminals, internet and mobile device channels in a fully automated, integrated environment.
A particular achievement has been realized through AsoftTeasy, a solution that came about as a result of ArsBlue’s innovative ideas based on development for mobile and internet platform. AsoftTeasy is a system that integrates all products developed so far within AsoftE2E and AsoftA2Z suites. Due to its unique features, Teasy attracts great interest in the European and African markets. Due to Teasy, ArsBlue is expected to get the mobile payment license in Nigeria.
Software development companies within the BVH, ArsBlue (www.ArsBlue.rs) and Isys (www.isys.ch) have been working more than a year in setting up the common software production framework based on the latest techniques, methodology and tools available in the software engineering today. The benefits of this integrated approach are already tangible, in terms of productivity, quality and improved time to market.
Isys and ArsBlue also closely work in cooperation with the strategic implementation partner, and supplier of outsourcing services, ISYS Banking Services & Solutions, another company of the BEST VISION HOLDING international group.
With more than 120 clients, like ABN AMRO Private Banking, Credit Suisse, INTESA SAN PAOLO PRIVATE BANK (SUISSE), RB Development Bank of Southeast Europe, BNP Paribas Investment Partners, Lloyds TSB Bank plc, Royal Bank of Canada (Suisse), etc, BVH has opened direct opportunities for Asoft products. In addition, with its offices in Lugano, Zurich and Geneva, Arius Suisse is in excellent position to improve its marketing and sales activities worldwide, as well as to use powerful, reliable and certified IT infrastructure for its service business in data center in Lugano and disaster recovery center in Geneva.
Two firms Specialized in technology and financial access to under-Served Nigerians, recently concluded plans to introduce agency banking into the country otherwise known as Street Banking.
Specifically,Finbank is at the fore front of using technology to offer next generation using technology to offer next generation financial inclusion services to this underserved and and unbanked segment of the economy is partnering with 3Line Card Management for the Introduction of these novel Financial Services.
It would be recalled that Fin Bank and 3Line worked together to take Flash Wallet Card Services to the market.
Fin Bank is well known for its Pioneering effort in the design and operations of the Flashmecash scheme, a service that has allowed the banks customers to perform money transfer and bill payment and and other services using the mobile phone platform.
Due to the Practical challenges of building bank branches in all under –served areas where Fin bank’s Flashmecash customer s live the bank decided to partner with 3Line;a leader in the provision of financial access to under-served and un-banked segments to leverage on its transaction processing and e-payment infrastructure and card scheme.
Light banking services, which would be referred to as “Street Banking” and include transaction sets such as cash withdrawal, fund transfer and fund load to the under-served and unbanked group would be offered on the platform. This is not the first time these two organizations will be collaborating on provisioning of financial services.
Banks have tried many ways of trying to reduce the tedium of queuing in branches: from enveloping customers in “synthetic lifestyle aromas “to meeting and greeting them when they enter the branch.
However, such techniques look distinctly 20th-century compared with what could await customers in a few years. The wireless technology threat enables contactless. Payments can also be used to target advertising.
When you enter your bank you may receive a message as a reminder that your insurance or a mortgage deal is up for renewal.or,if you’ve shown interest in the past in a loan, you’ll be told-whether you want to be or not-the best deal that the bank can offer you that day. All will be addressed directly to you, just to give it that personal touch.
After that, you might be directed to a self –service kiosk where you will talk interactively to a call center worker or the expert who is deemed best placed to deal with your problem.
Through this partnership, 3Line provided a platform through which Fin Banks mobile platform and its banking host is Integrated into 3Line’s platform. The result of this collaboration is the birth of Flash Wallet, a 72k smartcard (chip+PIN) EMV2 complaint card that is based on the Freedom Card solution.
As a result, customers of Fin Bank’s flashMeCash are now able to use their Flash Wallet cards at any of the bank’s ATMs in Nigeria. Our Correspondent learnt that the benefit of this collaboration is that FlashMeCash holders now have access to more financial points to enjoy light banking services.
In line with the Central Bank of Nigeria’s vision, this is pioneering effort between these two organizations has opened a vista of new possibilities of ensuring financial inclusion to a wider population and segment in Nigeria. This is the first of its kind in Africa.
These two organizations have carried out extensive merchant recruitments that will serve as the agents for the scheme.FinBank and 3Line are likely to commence soon the pilot testing of the street banking services in preparation for a full blown national roll out.
General Manager of 3Line, Mrs. Funke Adeojo, Confirmed that her company is working with Fin Bank to bring to the market an innovative product that will enhance financial services delivery to millions of under-banked and un-banked population in Nigeria. “it is true that we are working together with Fin Bank on financial inclusive banking solution but I cannot disclose the detail of what we have in stock now because we are still at pilot stage,” she said.
Street banking can also be termed, financial inclusion. it is the delivery of financial services at affordable costs to vast sections of disadvantaged and low income groups.
Unrestrained access to public goods and service is the sine qua non of an open and efficient society. it is argued that as banking and payment services to the entire population without discrimination is the prime objective of public policy.
The term” Financial Inclusion “has gained importance since the early 2000s, and is a result of findings about financial exclusion and its direct correlation to poverty .Financial inclusion is now a common objective many central banks among the developing nations.
In 2003,Former UN Secretary –General Kofi Annan Said:”The stark reality is that most poor people in the world still lack access to sustainable financial services ,whether it is savings, credit or insurance. The great Challenge before us is to address the constraints that exclude people from full Participation in the financial sector. Together, we can and must build inclusive financial sectors that help people Improve their lives.”
The Guardian
This edition of financialtechnology is dedicated to 20 Women in Africa who cut through the male dominated financial services technology sector’s barriers to innovation - to reshape organisation’s operations for the better.
We honour an eclectic group of individuals from banking, consulting, insurance, and payment integrators who share a willingness to challenge convention and find new answers to long-standing issues. We congratulate these Doers, Dreamers and Drivers.
www.financialtechnologyafrica.com
Nov 2010FinBank, a technology-savvy bank and leader in the provision of financial access to under-served Nigerians is piloting agency banking. Our correspondent exclusively learnt that the bank that
is at the fore front of using technology to offer next generation financial inclusion services to this under-served and unbanked segment of the economy is partnering with 3Line Card Management for the introduction of these novel financial services.
Light banking services, which would be referred to as “Street Banking” and include transaction sets such as cash withdrawal, fund transfer and fund load to the under-served and unbanked group would be offered on the platform. This is not the first time these two organisations will be collaborating on provisioning of financial services.
It would be recalled that FinBank and 3Line worked together to take FlashWalletCard services to the market. FinBank is well known for its pioneering effort in the design and operations of the FlashmeCash scheme, a service that has allowed the banks customers to perform money transfer and bill payment and other services using the mobile phone platform.
Due to the practical challenges of building bank branches in all under-served areas where FinBank’s FlashmeCash customers live, the bank decided to partner with 3Line; a leader in the provision of financial access to under-served and un-banked segments to leverage on its transaction processing and e-payment infrastructure and card scheme.
Through this partnership, 3Line provided a platform through which FinBank’s mobile platform and its banking host is integrated into 3Line’s platform. The result of this collaboration is the birth of FlashWallet, a 72k smartcard (chip +
PIN) EMV2 compliant card that is based on the Freedom card solution.
As a result, customers of FinBank’s FlashMeCash are now able to use their FlashWallet cards at any of the 8000 ATMs in Nigeria. Our correspondent learnt that the benefit of this collaboration is that FlashMeCash holders now have access to more financial points to enjoy light banking services.
In line with the Central Bank of Nigeria’s vision, this is pioneering effort between these two organisations has opened a ist of new possibilities of ensuring financial inclusion to a wider population and segment in Nigeria. This is the first of its kind in Africa.
Our correspondent further learnt that these two organisations have carried out extensive merchant recruitments that will serve as the agents for the scheme. FinBank and 3Line are likely to commence soon the pilot testing of the street banking services in preparation for a full blown national roll out.
In a telephone chat with Mrs. Funke Adeojo, the General Manager of 3Line, she confirmed that her company is working with FinBank to bring to the market an innovative product that will enhance financial services delivery to millions of under- banked and un-banked population in Nigeria. “It is true that we are working together with FinBank on financial inclusive banking solution but I cannot disclose the detail of what we have in stock now because we are still at pilot stage,” she said.
www.financialtechnologyafrica.com
GTBank, Nigeria’s emerging leading retail bank has offered to sponsor the Nigeria Central Switch for MasterCard and Visa cards payment process certifications.
Sources close to the switch and the banks revealed that the bank decision to sponsor the switch for the certification was informed by it desire to help the industry to resolve the intractable interoperability issues.
Just last week, the publication reported that Central Bank of Nigeria (CBN) has ordered the switch to obtain the mandatory process certifications from all the card schemes. The apex bank had earlier directed all the banks connect their system to NCS.
In a circular titled ‘Interoperability and Interconnectivity of the Payment System Infrastructure in Nigeria,' dated August 25, to all banks, switching companies, and other parties in the Nigerian payment
system, the Central Bank directed that all automated teller machines (ATM) and point of sale (PoS) terminals should be configured to accept and process all payment card schemes and other electronic payment instruments that are acceptable in Nigeria.
"The deadline for compliance is December 1, 2010," the circular added. The aim, according to the CBN, is to achieve an effective and robust payment system in line with best practice. By the circular, the Central
Bank stated that the Nigerian Central Switch (NCS) system exists to address the issue of interconnectivity and insisted that private switches shall not connect to each other.
All banks were instructed to adjust "their switching systems connect to the Nigerian central switch and only one other private switch of their choice as determined by the type of business. All participants
with multiple connections to private switches are hereby given till December 1, 2010 to terminate all multiple connections as appropriate," the circular stated.
However, at a stakeholders forum organized to address grey areas on the directive, which had in attendance representatives of all the Independent ATM Deployers (IADs), switching organizations, card
schemes, banks and the apex bank, NCS was directed to undergo the mandatory process certification with the card scheme in order to be certified to accept transactions from them.
Consequently, NCS is expected to undergo about five card scheme certification which include Verve, powered by Interswitch; Visa Debit, powered by ValuCard ;Visa Credit, powered by Mediterranean Smart Card Company (MSCC); MasterCard, powered by Interswitch and Card Technology Limited; Freedom Card, powered by 3 Line Card Management Limited and Genesis, powered by eTranzact plc.
Experts in the electronic transaction and payment industry in Nigeria have identified the country‘s cash-based economy as a major challenge bedevilling e-payment in Nigeria.
This, according to them, will rub off on the payment card business said to be worth N24.4tn by extension.
In view of the above, experts, under the aegis of e-Payment Providers Association of Nigeria, have called on the Federal Government, non-governmental organisations and the private sector to join hands with it to exploit the conservative N23.4tn market sizes for cards payment business in Nigeria.
According to them, e-payment industry has the potential to become the engine room of the economy, if all stakeholders come together to surmount the challenges.
Speaking at the fourth E-PPAN‘s Techno-Interactive Forum Series in Lagos on Friday, the General Manager, 3Line Card Management, Mrs. Adefunke Ade-Ojo, in her presentation titled, ”Financial Freedom for the Masses”, advocated that the cooperative model of branchless banking, using third party agent networks, would be an assured means of reaching the unbanked in Nigeria.
According to her, an important condition is the establishment of a well-organised cash agent network, working according to regulations applicable in the financial sector with a secure cash management solution.
She argued, “Cards and PoS, with potential for mobile money collaboration in future, are the way out for mass financial access to the unbanked communities in Nigeria.”
In his keynote presentation, the Managing Director, Nextzon Business Services, Mr. Macauley Atasie, defined the ‘Bottom of Pyramid’ as the largest, yet poorest socio-economic group, typically living on less than N500 per day in Nigeria. He noted that Government-to-People payment was the best way to stimulate card payment usage among this group.
According to him, G2P payments were high impact avenues to enhance financial inclusion. Notable G2P opportunities in Nigeria include agricultural loans to rural farmers; rehabilitated militants’ welfare; state unemployment welfare schemes; student bursaries/scholarship and local government social payments schemes.
Current initiative in Nigeria, which could be channelled to address financial inclusion for the BoP is the National Identity Management Commission, which is currently working towards the issuance of smart cards as national identity cards.
Macauley advised that the implementation of these cards must be to utilise the enhancement of financial inclusion for BOP.
He noted that micro finance banks had been issuing cards to BoP, using the infrastructure platform of commercial banks and Finconnekt. However, with the launch of MainOne, and eventually Glo1, communication cost would reduce. ”Efforts should, therefore, be on ensuring that the cost savings are passed on to the BoP,” Atasie said.
Earlier, Acting Director, Banking & Payment System Department, CBN, Mr. Abayomi Atoloye, had highlighted, among others the desire of the regulatory authorities to implement a compensatory financing system that rewarded organisations that had successfully bridged the gap for the unbanked. Thus, he said, CBN will continuously seek ways of building financial literacy for the users and consumer education.
E-PPAN appealed to the regulatory authority to create a CBN-led committee for financial inclusion using cards.
www.punch.com
Nigeria e-payment industry has the potential to become the engine room of the economy if governments, Non-Governmental Organisations (NGOs) and private sector jointly exploit the conservative N23.4 trillion market sizes for cards payment business among the Bottom of Pyramid (BoP). This view was canvassed at the fourth E-Payment Providers Association of Nigeria (E-PPAN)’s Techno-Interactive Forum Series in Lagos.
In her presentation entitled, “Financial Freedom for the Masses”, Mrs. Adefunke Ade-Ojo, General Manager, 3Line Card Management, advocated that the co-operative model of branchless banking, saying, using third party agent networks would be an assured means of reaching the unbanked in Nigeria.
According to her, an important condition is the establishment of a well-organised cash agent network working, according to regulations applicable in the financial sector with a secure cash management solution. She argued that cards and PoS with potential for mobile money collaboration in future is the holy grail for mass financial access to the unbanked communities in Nigeria.
She disclosed that 3Line has secured the Central Bank of Nigeria (CBN’s) approval to roll out “Freedom Network” branchless banking services in Nigeria. 3Line has signed agreement with two leading commercial banks in the country to deploy many financial services to Nigerians in their locality.
In his keynote presentation, Macauley Atasie, Managing Director and Chief Executive Officer of Nextzon Business Services, defined the BoP as the largest, yet poorest socio-economic group, typically living on less than N500 per day in Nigeria. He noted that Government to People (G2P) payment is the best way to stimulate card payment usage among this group.
According to him, G2P payments are high impact avenues to enhance financial inclusion. Notable G2P opportunities in Nigeria include agricultural loans to rural farmers; rehabilitated militant’s welfare; state unemployment welfare schemes; student bursaries/scholarship and local government social payments schemes.
Current initiative in Nigeria, which could be channelled to address financial inclusion for the BoP is the National Identity Management Commission (NIMC), which is currently working towards the issuance of smart cards as national identity cards. Macauley advised that the implementation of these cards must be to utilise the enhancement of financial inclusion for BOP.
He informed that micro finance banks (MFBs) have been issuing cards to BoP, using the infrastructure platform of commercial banks and Finconnekt. However, with the launch of MainOne, and eventually Glo1, communication cost would reduce. “Efforts should, therefore, be on ensuring that the cost savings are passed on to the BOP,” Atasie emphasised.
Earlier, Abayomi Atoloye, Acting Director, Banking & Payment System, Department Deputy Governor, CBN, highlighted among others, the desire of the regulatory authorities to implement a compensatory financing system that rewards organisations that have successfully bridged the gap for the unbanked. Thus, CBN will continuously seek ways of building financial literacy for the users and consumer education.
www.microfinancenigeria.com
The Lagos State government has begun migration of its automatic vehicle registration management, known as AutoReg to Freedom Card payment platform, managed by 3Line Card Management Limited.
This was the outcome of the strategic partnership between 3Line Card Management and Courteville Investment Limited, owners of the AutoReg trademark, according to the Chief Executive Officer, Courteville, Mr. Bola Akindele.
He also said that the system which had operated before now on scratch cards platform has now been moved to a more robust smart cards platform capable of carrying out other financial transactions immediately and in the nearest future.
He explained that the new platform is a smart card that contains a memory chip and could perform the functions of a debit card, credit card, prepaid card and other transactions such as payment for petrol and payment for lottery.
Akindele said that the scheme avails vehicle owners in the state to register their vehicles by visiting registration centres, which are the branches of banks involved in the scheme led by Oceanic Bank, which was the first bank in the country that issued the Freedom card and AutoReg co-branded cards to vehicle owners.
He also disclosed that the scheme, which began a year ago, has increased the state’s revenue generation by 300 per cent and created a million records of vehicle owners within the period under review.
Mr. Akindele equally said the scheme has eliminated problems previously linked with obtaining vehicle licenses such as touting, corruption and delay associated with manual vehicle registration.
“Now, it takes only five minutes to capture a registration process through the AutoReg scheme. It is a home-grown scheme and the first of its kind in the world,” he said.
He emphasised that his company decided to work with 3Line Card Management in order to move the AutoReg scheme to the next level and eliminate all other limitations associated with the scratch cards platform.
“We choose 3Line Card because out of all the card companies that approached us, 3Line Card has the best infrastructure that can handle all our requirements,” he said.
According to him, with a 72k chip, the highest data storage capacity in the market, AutoReg Freedom cards capacity is limitless, just as they envisioned that in the future, vehicle owners would be able to use their AutoReg Freedom Card for payment services such as buying goods at supermarkets, payment for tolls on Lagos roads, payment for fuel at filling stations across the state.
Speaking at the media launch, last weekend, Chief Executive Officer, Oceanic Bank Dr. (Mrs) Cecilia Ibru, said her bank was proud to be associated with the project.
“It is part of our commitment to co-create value in e-governance with the Lagos State government,” she declared.
As said by her, Oceanic Bank has consistently been the lead bank amongst other banks involved in the AutoReg scheme.
“We’re devising more innovative ways and methods for vehicles owners to derive maximum benefits from the upgraded scheme,” he said.
While explaining the multi-functionalities of the AutoReg new platform, Dr. Ibru said that the traditional vehicle owners’ details would be electronically stored in the cards for the purposes of verification by government agencies.
Additionally, the card could be used as a debit card or electronic purse for existing customers of the bank, and electronic purse for non-customers that do not operate any bank account.
“This is done through the creation of a virtual account for such customers. Money is stored electronically on the card, which can be used on Automated Teller Machine (ATMs), point of sale (PoS) terminals and on the web.”
ITRealmsonline.com
3LINE Card Management, owners of the Freedom Card brand, has introduced a customised payment electronic cards, tagged, "Freedom Gift Card" to the Nigerian market. Speaking at the card's unveiling ceremony, Managing Director of 3Line Card Management stated that Freedom Gift Card is a customisable payment card that can be given instead of traditional gift item. The card, therefore, gives recipient the freedom to choose what he wants as a gift as against any other gift that may not appeal to him. It was explained that the Freedom Gift Cards can be redeemed at any retail outlet where Interswitch debit Cards are accepted, and noted that 'this card is innovative because it is the ideal incentive for your customers, employees, business partners, and survey respondents, anyone you want to motivate, reward, or show your appreciation to".
He identified some of the partners as being instrumental to the successful launch of the product, one of such was Skye Bank, the partner bank on the project, pointing out that the choice of Skye bank was based on the clear appreciation and understanding of the business by Skye bank and its experience in the e-payment sphere. He also appreciated the management of the Palms shopping malls for partnering with 3Line on the project, saying that the partnership with the Palms was a strategic one, as it is unarguably one of the biggest shopping malls in the country and Freedom Gift Cards will be sold and accepted for purchases at various shops at the malls. Mr. Frank Atat, head, e-Channels, Skye Bank, expressed delight at working with 3Line on the Freedom Gift card project, confirming Skye Bank's readiness and willingness to always partner on such innovative product. He reaffirmed the bank's commitment to the success of the product, while reassuring the public that prompt attention will be given to customers who walk into any of its branches to purchase or load the Freedom Gift Cards.
www.compassnewspaper.com
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