Author Archives: Jonathan Kaftzan

The Ovum Decision Matrix – A Must Read When Seeking a Mobile Wallet Platform for your business

Traditional bank services are not enough to retain customers, and fall far short in onboarding new customers. Successful banks are providing seamless, easy-to-use mobile wallets that provide customers with the mobile services they need. However, mobile wallet platforms are complicated to develop, driving backs to implement cost effective white-label platforms. However, selecting the right platform vendor poses new challenges for banks. To assist in this critical decision-making process, Ovum developed the Ovum Decision Matrix: Selecting a White-Label Mobile Wallet Solution, 2016–17. The report helps banks understand and analyze the capabilities and strengths of various leading vendors of white-label digital wallet platforms. Ovum’s […]  More >>

A Wallet Platform Worthy of my Mobile Phone

Market LeaderWhen I was around 14, my grandfather gave me a really nice wallet. What I remember most about it was the feel of the smooth leather on my hands when I touched it. I had a similar tactile experience when I got my first iPhone.  Simply touching that smooth black back phone made me happy. Ironically, nearly thirty years after getting my first really nice wallet, my really nice phone is turning into a wallet. And one of mobile wallet platform leaders, according to Ovum, is Amdocs. It’s great to be recognized by Ovum, especially considering they are grouping us […]  More >>

Why Companion Cards Are the MFS Industry’s Blue Ocean

plastic is the companion opening world of opportunityCompanion cards (debit or prepaid cards that are tied to a mobile money account) are the “blue ocean” of the MFS market, since they not only help diversify the use cases offered in mobile money but also help ensure that the money continues to circulate within the mobile money ecosystem. The latter is especially important, since currently 90% of transactions are P2P and cash in cash out (CICO) leaving a whole ocean of untapped MFS open to be conquered. As a result, the ecosystem is static and although MFS are growing in volume, they are hardly expanding since only a […]  More >>

What’s New in MFS: Potential in Emerging Markets, Hidden Costs and Growth Disruptions

IMT NewsWith the unprecedented growth and potential of international remittance and the fact that the market is expected to reach 650 billion within a few years, it is not surprising to find such a plethora of interesting related articles emerging. These articles cover remittance growth disruptions, the huge potential in Asia and other emerging markets, the distress of hidden remittance costs, and the promising new collaboration between Western Union and Viber. Feel free to add your comments below, or reach out on Twitter: @AmdocsMFS. Remittances are a Good Thing, Except When They Stop This insightful article from The Economist takes a […]  More >>

[Infographic] Forget the Wires: Connect the Wallets

Economic Inclusion BannerAcross markets, increased mobile phone usage and the growing demand for convenient, secure, and affordable international money transfer solutions are indicators that a robust Mobile Financial Services solution is poised to offer both banked and unbanked customers a new type of “connected” transfer experience.  More >>

What’s New in MFS: Mobile Payment Apps, Africa’s Mobile Markets & No More Bank Notes

What’s News in MFS- Mobile Payment Apps, Africa’s Mobile Markets & No More Bank NotesTo highlight the prevalence of MFS globally, we’ve rounded up four recent articles that cover the banks’ current challenges, the African mobile money population, and MFS’s effect on currency note production. All food for thought on the current and future reach of MFS. Banks at a Crossroads: Build or Buy Mobile Payment Apps             With mobile banking becoming the norm, banks are grappling to determine their new role. They are concerned about losing their locus of control on two fronts: 1.) From competitors offering innovative banking services into their customer’s palm-held devices, and 2.) Needing to reconfigure the trust and security […]  More >>

Mobile Money: Innovating the World of the Unbanked

Banks are like grandfathers – set in their ways. But the need for mobile financial services, specifically mobile money, is changing the way banks think about their services. Even more revolutionary is the transformation taking place regarding a market segment that was previously ignored and deemed irrelevant – the unbanked. As banks come to rely more upon technology and partnerships, we are beginning to see the sparks of change that are making a difference to the millions of unbanked around the world. Here is our round up of some of the current innovative ideas of companies worldwide that are daring […]  More >>

Does Our New Digital World Mean the End for Traditional Banks?

I don’t know about you, but as time progresses, I find myself going less and less to the bank and doing more of my banking online. Once upon a time, banks required a customer’s physical presence to perform transactions, and placed a heavy emphasis on its capital adequacy, branch network and products and rates.   More >>

Are Mobile Financial Services Too Good to be True?

Ever consider asking cousin Dave to lend you cash to get you through some tough times? In parts of the emerging world, such a scenario is common, with over one third of respondents in an Ovum survey saying that they had taken a loan from a friend or relative in recent months. That’s not surprising, considering the alternative of borrowing from loan sharks or local banks with their high interest rates is simply untenable for many.  More >>

The Opportunity Hiding Under the Mattress

It’s becoming clear that we need to create newer and better ways for people to save and borrow money. Loans can start businesses, pull a family out of deep financial trouble, or provide the funds needed for a vacation. Even those active users that are more conventional savers are looking for more. 36% of mobile financial services (MFS) users in APAC, Africa and South America who currently have bank accounts said that they would like their service provider to offer advanced savings, loans or insurance products.   More >>