Amdocs Mobile Banking Solution

Mobile banking is a key differentiator for banks as their customers increasingly demand more flexible and convenient ways to manage their various accounts. These customers -- often young and technology-savvy -- look at mobile banking as a cost-effective extension of traditional branches and Internet banking. A recent survey conducted by Amdocs of more than 600 U.S. consumers found widespread interest in mobile banking services. In fact, more than half of respondents between the ages of 18 and 34 indicated that convenience factors such as handling bank transactions on the go and being connected to their accounts anytime and anywhere were the biggest benefits they saw of mobile banking.

"Mobile banking is a market mandate for financial institutions. Internet banking opened the banks 24/7, mobile banking extends that to 'right now, right here banking,'" said Bob Egan, chief analyst, TowerGroup. "Leading solutions will morph into bank infrastructure initiatives and provide the reliability, scale, extensibility and security expected by their customers." The Amdocs Mobile Banking Solution allows financial services firms to provide simple, convenient and secure access to a bank from a mobile device, including through short message service (SMS), mobile Internet and Smart phone services. It also helps banks improve customer relationships while reducing costs by shifting services to lower-cost mobile banking channels.

"The future of the financial services industry lies in the ability to deliver an integrated, profitable mobile banking solution that gives customers instant access to their accounts," said Fernando Alfaro Aguila-Real, general manager at Bankinter. "Amdocs' expertise in designing customer experience systems and Bankinter's financial services innovation allowed us to jointly develop a mobile banking solution that can meet the needs of both the bank and the customer."

The Amdocs Mobile Banking Solution enables banks to utilize the SMS channel for two-way conversations with customers via text messages. Banks can send alerts about banking actions and targeted product purchase opportunities that the customer can easily respond to. It also gives customers the ability to perform banking transactions through a mobile Internet interface in a secure and convenient way. An extension of the Amdocs Mobile Banking Solution for customers with Smart phones is the Mobile Broker application, which allows these "power users" to conduct stock market transactions and queries, anytime and anywhere. Banks can even fully automate new product deployments to customers, including the authentication and execution process. Automating this process reduces costs while increasing customer convenience.

In addition, the Amdocs solution includes a Campaign Management component that differentiates it from other offerings in the market. It allows banks to deploy targeted, personalized campaigns to different customer segments in order to increase revenue. For example, banks can detect through credit card activity when a customer is out of the country and offer travel insurance on the spot. As a result, it is expected that banks will increase their revenue by selling more services through a low-cost method and customers receive offers that are relevant to their lifestyles.

"By working with 150 of the world's leading service providers for the last 25 years, we believe that Amdocs can provide banks with the industry experience and unmatched global systems integration capabilities they need to deliver a mobile banking solution that successfully bridges the gap between banks and mobile operators," said Chris Burton, president of the Amdocs Financial Services Division. "Amdocs' goal, working with our Bankinter partner, is to help financial services institutions integrate mobile banking into their overall customer contact strategy and deliver an integrated, innovative and intentional customer experience that includes 'anytime, anywhere' access via the mobile device."

The solution will be available in September 2007. Bankinter will offer the solution to banks in Spain and Portugal, while Amdocs will offer it to banks in the rest of the world.