A COMPREHENSIVE E-SAVINGS SCHEME: A JOURNEY TOWARDS MOBILE WALLET

Group name: BUET

Team Leader:

Enrooters

Md. Zunaid Baten, Lecturer, EEE, BUET

Members:

Syed Bahauddin Alam Shakhawat Hosen Tanim A B M Rafi Sazzad Md. Nazmus Sakib

EEE URP EEE EEEE

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Project Overview

Mobile wallet

Motivations
Only around 19 million bank accountSOLUTION holders IT based solution for attracting more people towards banking services

Cellular communication not being extensively utilized for SOLUTION transactions

E-transactions for more than 50 million cell phone users possible

Contd.
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Motivations MOTIVES
Culture of savings missing SOLUTION among all income groups

A business strategy with the vision of inspiring savings

Requirement of sophisticated cell phones SOLUTION or high speed internet for e-Transactions

Dissemination of e-transaction using even the simplest mobile phones and technological infrastructures

Business Scheme

Business Strategy
Collaboration User level integration e-Load centers Monetary transaction Additional services

Mobile wallet
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Collaboration
One to One model
Bank
Mobile company

One to Many model

Mobile Company2 Mobile Company1 Mobile Company2

Bank Contd. 7

Collaboration
Many to many model:
Bank1
Mobile company1

Bank1

Mobile company1

Central server

Bank2

Mobile company2

Bank2

Mobile company2

With central server

Without central server

E-load centers
Authorized outlets for cash deposit Any mobile balance recharging center (like Flexiload of Grameenphone, i-Top up of Banglalink etc.)

Collaboration

Bought package

E-transaction to bank account Client

Cellular E-load Communi Bank(s) Centers cation E-transaction to E-transaction to bank account bank account

Promotional Concept : My Savings

Slogan of My savings or by the distribution of piggy banks to each registered client

Objectives
To encourage saving any amount of money To encourages savings for all income group To increase overall savings
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Cash flow
Banking Service

Registration fees

SMS charge registration

Bank sectors
Users (individuals Transaction fees /institution) Service charge

Telecom sectors

Transaction fees
Balance checking fees

Loan providing Based on Data Mining

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Cost and Benefits for our project

Prime cost Registration fee Infrastructure development Physical cost Operational cost Remuneration cost Maintenance cost Updating cost Marketing and promotional cost Product distribution Operational manual Publicity cost Training cost Communication cost Intellectual cost

Cost

Benefits
Security saving Cost for cheque and paper Direct operational cost saving Manpower reduce Banking profit increase

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Business Process
Money deposit(through e-loads My savings (e-account) Opening Registration account Savingscenters)account or fixed

e-transaction : Mobile wallet

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Problems and challenges

Solution How secured the e-transactions are going to be? Security Concern Is it protected enough in the Business Gateway? Will the national ID info shared by the government? Identity concern If not, how to confirm someone's identity during e-transaction?
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Technological Developments

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A New Dimension of Security: Digital Watermarking

Channel
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Digital Watermarking in Our Scheme

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Next Generation Authentication: Voice Verification

Voice verification
How is it done?

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State of the Art Authentication : Voice Verification

How is it done?

Stored Voiceprint

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Voice Verification in Our Scheme

Registration

Use Voice Verification?? No

Confirmation pin

Use Voice Verification?? Yes

Banking Services

Voice SMS with Pin-code

Voice Recognition
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Security Breach : How difficult?

An Intruder has to ..
Impossible

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Novelties of the Work

The concept of E-LOAD Centers Promotional concept like My Savings Watermarking (of 3 different types) for security enhancement Voice verification for client authentication Expansion of the mobile wallet concept

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Real Life Implementation

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Real Life Implementation

Based on existing GSM/CDMA based cellular communication, which is ubiquitous in the country

No sophisticated mobile phone required (JAVA applications not necessary)

No additional establishment cost for e-load centers

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Real Life Implementation

Collaboration between telecom and public/private sector already exists
BillsPay between GP & PDB, Titas Mobitaka between GP & Bangladesh Railway EasyPay between GP & HSBC Cellbazaar feature provided by GP

Voice verification being used by

US PORTPASS program at U.S-Canadian border Call centre market in Taiwan Israeli Bank Leumi for banking security Numerous companies for voice verification

25 Contd.

Mobile Banking : Really Pragmatic?

Mobile Banking for different income group

Statistics of India
12% 17%

18%

less than 1 lack 1 lack to 3 lack

3 lack to 5 lack

16%

37%

5 lack to 7.5 lack more than 7.5 lack

Source: Telicomindiaonline.com
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Technological Demonstration

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Developed Softwares
Audio watermarker and remover Image watermarker and remover Text watermarker and remover Voice verification

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