Client: PSIS
Project: Mobile Banking
Solution: RedSafe
Campaign length: Ongoing
Aim:
Develop a secure, easy to use mobile banking service for PSIS customers through text messaging.
The Objectives:
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Broaden the range of channels through which PSIS customers can access banking services
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Position PSIS as an early adopter of new technology that enhances the banking experience for their customers
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Differentiate PSIS from their competitors through the deployment of innovative technology
The Results:
While it's still early days, PSIS report initial uptake of the mobile banking option has exceeded their forecasts. The service was launched with a media function coinciding with the cooperatives 75 th Anniversary.
A multimedia advertising campaign was launched on 12 September 2004 to promote the initiative to new and existing customers.
The Strategy:
Develop a mobile banking solution for PSIS, which provides a key point of differentiation from PSIS's banking competitors and provides PSIS customers with a convenient, easy to use way to manage their finances.
How it Works:
Run The Red's SMS platform RedSafe was customised to meet the specific requirements of PSIS. Security of the service was critical to PSIS. Run The Red worked with PSIS partners Unisys and Deloitte on security and risk management issues. PSIS were satisfied with the level of security in the solution infrastructure and application based on assurance obtained from a detailed review performed by Deloitte.
Customers register through their PSIS branch and, once registered, can perform a range of tasks by using simple SMS commands, including:
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Check the balance of any of their accounts
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Transfer money from one of their accounts to another
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Check the balance, interest rate and maturity dates of any term deposits.
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Check the balance and current interest rate of loans and mortgages.
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Text help for assistance
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Suspend or cancel mobile banking services, if for example they lose or lend their mobile phone.
In addition to improved customer service, the mobile banking solution has the potential to reduce costs associated with customers using ATMs and making 0800 calls to PSIS' telephone banking service.
Older customers have reported that the service is more user friendly for them, because those with hearing difficulties cannot utilise telephone banking services.
Awards:
For more information please contact us
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