Project Chase Manhattan

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Meryl Warner
10 years ago
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1 T-NetSix Enon Corporation Project Chase Manhattan How T-NetSix Enon Corporation created new innovative mobile banking solution for Chase Manhattan bank Company background: T-NetSix Enon is a IT services providing corporation specialized in consulting, implementing, integrating and maintaining mission-critical Internet-based applications employees in 15 countries including China and Japan Our banking sector has 2000 employees Close relations with Nokia, Sonera and NTT DoCoMo T-NetSix Enon Corporation T-NetSix Enon Business Plan Building customer satisfaction through Quality, Service, and Value Act as an integrator between companies and technologies providing superior innovations in practise Alliances with Major Players Source:

11000 employees in 15 countries including China and Japan Our banking sector has 2000 employees Close relations with Nokia, Sonera and NTT DoCoMo T-NetSix Enon Corporation T-NetSix Enon Business

2 T-NetSix Enon Business Plan E-Business solutions for all kinds of clients & platforms based on smart cards & strong security Java-based architectures and frameworks T-NetSix Enon Business Plan Asian markets are opening Asian connection: opening offices in 3 other locations (current locations: HK, Singapore, Tokyo) by 2002 Working with local partner companies Joint-ventures BBB-program (Best Business Buddies) with local companies -> long relationships based on mutual trust Approach the company, not the ITdepartment Cooperating with other companies on standardization work Chase Manhattan background Established in 1799 Over US $366 billion is assets. Over 72,700 employees and offices in more than 50 countries. 13 locations in Asia Pacific with 3800 employees. Chase Manhattan background Three major franchises Global Bank: for corporations, institutions, governments and wealthy individuals National Consumer Services: key businesses credit cards, regional consumer banking and other consumer services Global Services: key businesses custody, trust & agency services, treasury and cash mgmt, etc. 3rd largest credit card issuer in HK

Business Buddies) with local companies -> long relationships based on mutual trust Approach the company, not the ITdepartment Cooperating with other companies on standardization work Chase Manhattan

3 Chase Manhattan background Competitive forces in banking industry New products or banking services New technology Current market position one of the leading international banks in the world Hongkong is the gate of Asia Core business is credit card Chase Manhattan background Current key customer segments Sex: Male 41%, female 27%, joint a/c 18%, Co. a/c 14% Age: % % over 44 50% Occupation: white collar 15% mgmt executive 36% business owner 11% retired 5% Creating added value for Chase Manhattan customers Deposit & Investment: Customer trend: search for added value, aging of population, customers demanding more, women s changing role Target customer segments: Matured customers (age 45-64) emphasize security & wealth preservation Young customers: (age 30-45) demand high level of services, more information & control. Prefer convenient access, technology and one-step banking Chase Manhattan strategic objectives Developing peripheral services to balance the business concentration risk virtual bank to upscale individual s deposits, investment and insurance 24 hr banking cyber-banking mobile banking

a/c 14% Age: 24-35 14% 35-44 36% over 44 50% Occupation: white collar 15% mgmt executive 36% business owner 11% retired 5% Creating added value for Chase Manhattan customers Deposit & Investment:

4 Reasons for Mobile banking Globally over one billion mobile phone users and 400 million wap-phones in the year 2004 In Hong Kong population with mobile phone is ever increasing Mobile phone or PDA most important connection device to the Internet Reasons for Mobile banking Chase Manhattan has only a few branches and its targets are not the retail customers mobile bank offers better service and performance to all corporate customers travels a lot and use mobile phones -> ideal solution for them T-NetSix Enon proposal Analysis for providing mobile banking services Two possible alternatives for mobile banking based on analysis Mobile banking extension 1: SmartTrust-based Mobile banking extension 2: SSL-based (Own solution) T-NetSix Enon proposal Mobile banking extension: SmartTrustbased Source: WAP or SMS-based UI on the GSM-phone security based on the Sonera SmartTrust-concept Public Key Infrastructure (PKI) on the SIM card Enables transaction confidentiality Encryption and signatures based on 1024-bit RSA

performance to all corporate customers travels a lot and use mobile phones -> ideal solution for them T-NetSix Enon proposal Analysis for providing mobile banking services Two possible alternatives

5 T-NetSix Enon proposal Internet-based bank transaction solution for corporate customers Core built on BEA WebLogic Enterprise and Tuxedo Source: Application itself is a pure-java solution client can be any Internet-capable device highly scalable different security solutions for different layers: internet, intranet, extranet Developing Mobile banking Project started february 1999 after SmartTrust was released to public First test version to selected customers on august 1999 Public release november 1999 Current services: accounts, stock information etc. In future selling and buying stocks Current situation Good receipt from major customers Accurant number of users is classified thousands and rising fast User profile: young and well-educated executive managers who travels a lot Current product concept SmartTrust-based mobile banking services Integrates easily to legacy banking systems Added value for basic banking businesses Personalized services In future integration with GPS-systems is possible, so then mobile phone can for example guide you to the nearest bank.

Mobile banking Project started february 1999 after SmartTrust was released to public First test version to selected customers on august 1999 Public release november 1999 Current services: accounts,

6 Future possibilities for investors Joint ventures founded by T-netsix Enon and major international banks, based on current product Joint ventures have strong players to back them up (T-netsix Enon & banks) Good relations with important companies in mobile computing Future possibilities for investors New possibilities offered by EC under research and development The product is constantly under development for future needs Smaller risk; product concept already tested troughly with real users and environment References History of Chase Manhattan Corporation (Pre-1996 Merger): SmartTrust: NTT DoCoMo: BEA WebLogic Enterprise: BEA WebLogic Enterprise 4.1 Introduction, Document Edition 4.1, May 1999 WAP: Janice J. Heiss: Banking on Java Technology - white paper, 724Solutions: Sun and NTT DoCoMo Unveil Prototypes of Next-generation Java, press release, Java Phone API:

development for future needs Smaller risk; product concept already tested troughly with real users and environment References History of Chase Manhattan Corporation (Pre-1996 Merger): http://www.

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