Mobile Money Conference EBRD, London 14 th March Senior Vice President & Head of Product Development Division

Transcription

1 Mobile Money Conference EBRD, London 14 th March 2013 Presenter: Mr. Loeung Sopheap Senior Vice President & Head of Product Development Division 1

2 ACLEDA Unity Challenges of introducing Mobile Money and how to overcome them? and How to drive consumer adoption? 2

3 Slide Outline About Cambodian Market About ACLEDA Bank The Objectives of ACLEDA Unity Phase One Existing Customers Phase Two Underserved Consumers Infrastructure and Architecture Key Challenges Overcome the Challenges Drive Consumer Adoption ACLEDA Unity in the Future 3

4 About Cambodian Market 85% of Cambodian have no access to financial services at all. 1/4 of Cambodia s live on $1 a day Half of population is under 25 year of age For the past 3 years average economic growth by 7% and 2013 will be 7.50%, estimated. 4

5 About ACLEDA Bank 1. Founded in 1993 as ACLEDA NGO 2. The largest bank in Cambodia (31/01/2013) Total Assets > 2 billion US$, Total Deposit >1.4 billion US$, Total Loan Portfolio > 1.3 billion US$, NPAT > 64.2 million US$, (31/12/2012) Employees > 7,700, Customers > 1.2 million 238 office network, 3. Four subsidiary companies: ACLEDA Bank Lao Ltd. ACLEDA Securities Plc. ACLEDA Training Center Ltd. and ACLEDA MFI Myanmar Co., Ltd. Our Vision - to be Cambodia s leading commercial bank providing superior financial services to all segments of the community 5

6 ACLEDA Unity Our Objectives First 24/7/365 Channel for Customers Anytime, Anywhere Safe and Convenient Access Banked and Never banked Consumers Cash Branch, ATM & Offline Offices Appropriate Controls & Risk Management Key Objective - to secure existing customers base while attracting new customers through differentiation 6

7 Phase One Existing Customers (1) Target customers Account link Channel Mobile phone MNO Language Currency Services offering via SMS channel All ACLEDA Bank existing customers including depositors, borrowers, money transfer users, insurance policyholders, individual and corporate, and those who has account with ACLEDA Bank. Formal bank account SMS, WAP, and/or APP Smartphone or feature phone (not smart) Any mobile network operator English or Khmer KHR, USD, and/or THB View exchange rate, View account balance, and Mini statement, Mobile top up, and Request WAP link, and Help request 7

8 Phase One Existing Customers (2) Services offering via WAP and APP Channel View exchange rate, View account balance, and Mini statement, Own account transfer Person to person account transfer Bill payments Electricity, Water Supply, and other utilities bills, and Mobile top up. 8

9 Phase Two Underserved Consumers (1) Target customers Account link Channel Mobile phone MNO Language Currency Customers who use other bank services and consumers who never use any banking services before. E.g. Workers, famers, and family money transfer Mobile Wallet Account which is the Mobile Phone number that is fully registered for ACLEDA Unity SMS, USSD, WAP, and/or APP Smartphone or feature phone (not smart) Any mobile network operator English or Khmer KHR, USD, and/or THB Services offering via SMS channel View exchange rate, View wallet account balance, and Mini statement, Mobile top up, and Request WAP link and help request 9

10 Phase One Existing Customers (2) Services offering via USSD, WAP and APP Channel View exchange rate, View account balance, and Mini statement including mobile wallet account, Own account transfer, Person to person account transfer, Transfer to/from mobile wallet account, Transfer to mobile phone number (unregistered phone), Bill payments Electricity, Water Supply, and other utilities bills, Mobile top up, and ATM cash withdrawal without using ATM card. All ACLEDA Unity users can deposit to mobile wallet account, make loan repayment, make insurance premium payment, and make payment to credit card account etc., 10

11 Phase Two Underserved Consumers (3) Personal Payments/Transfers ATM Cardless Cash Withdrawal Mobile Wallet Accounts 11

12 Infrastructure and Architecture Branch/Agent (Online & offline Teller) ATM (Cardless withdrawal via ATM) Enrollment & Customer Care IOS8583 ATM Switch SMS USSD Browser App Value Manager IOS8583 Custom API IOS8583 T24 Core Reporting / Diagnostics / Administration Web Service Offline interface Biller Biller Biller Biller Control Center 12

13 Key Challenges Regulatory & Compliance: License/Approval, AML & KYC Customers Care & Protection 7 Mobile Operators Competition Multiple currencies and Multi languages High Tech, Self-service, and New to Cambodia Lower literature rate Higher TCO => Higher cost for consumers 13

14 Key to Overcome Challenges Security Registration Authentication PIN & OTP Dynamic Risk & Velocity Check Roles & Privileges KYC - Registration Registration at Bank Mobile Phone + SIM National ID and Name Maker & Checker/Authorizer AML - Daily Limit Max. Amt/txn, Max. Amt/day Max. Txn/day Bank Account & Wallet Account, Unregistered Phone Customers Care & Protection Management & Staff Training User s Guide/Manual Call Centre & Support Team Complaint Handling Procedure 14

15 Driving Consumer Adoption (1) Consumer Benefits Safe & Convenience access, Anytime & Anywhere Save travel cost & no waiting time Minimize risk of carrying cash, cash counting & counterfeit note Bank in your hand/pocket online & real time processing Usability Channel WAP, APP, USSD, and/or SMS Device Smart phone and feature phone (not smart phone) Any mobile network operator Currency USD, KHR, and THB Khmer or English language Full banking service view exchange rate, view a/c info, payments & money transfer, and top up and others. 15

16 Driving Consumer Adoption (2) Market Education and Promotion User s Guide/Manual, Brochures TV Spot, Radio/Talk Show Call Centre and Support team Face to face explanation 16

17 Driving Consumer Adoption (3) Launching Event Bill payment promotion Money transfer promotion 17

18 ACLEDA Unity in the Future General growth adoption & transactions 360 o Money Transfer Local & Int l transfer, A/C Based & Cash Based Extending through our Offline Offices Extending through ACLEDA Merchants Merchant Payments The behind building is under construction 18

19 Number of Customer Registered 19

20 The Value & The Number of Transaction 20

21 Mobile is Strategic in Every Sense In particular the growth of our highly successful mobile banking service, ACLEDA Unity, has enabled is to access the previously unbanked and to become the leading financial services provider amongst the paddy growers and farmers in the remote rural areas. Dr. In Channy, President and CEO, ACLEDA Bank ACLEDA Bank Annual Report,

22 Question and Discussion 22

23 Thank you very much for your attention! M: (855)