OVERVIEW
In the current market environment, financial institutions and service providers need to have a fast, secure and interactive way to communicate with their customers, thereby enabling mobile transactions anytime, anywhere. The most prevalent solutions are SMS alerts. By the use of those means, customers can be informed about changes happening in their portfolio or account. However, in order to respond, customers still need to type several characters; they will then receive a lot of irrelevant information; and eventually – since they don’t really trust the mobile network – they will need to call the bank or access the eBanking website

As a result, financial institutions and service providers lose money from transactions that could have occurred.

ClassifEye brings new dimensions mobile finance, thereby helping banks making more out of their customer base: Its unique, patented technology enables banks to provide new services that are suitable to the mobile experience and thereby helps customers respond to SMS- and other alerts in a a simple, fast and secure manner:

In addition to allowing end users to securely approach the banks – they also allow the bank to securely prompt end users to conduct activities with the bank.

• Secured messaging – your bank clerk can communicate with you over the mobile network and get instructions that you have signed.
• Mobile banking – check statement & conduct standard banking activities.
• Credit management – authorize a credit-card authorization request, extend credit line, manage deals.
• Password reset – prompt for a new password for network access while signing with the finger.

• Make more transactions – use the mobile phone to make new channels to online customers, thereby collect additional fees.
• Utilization of existing hardware – users are already equipped with mobile phones. By using these devices, banks save the cost of providing devices (such as one-time-password generators).
• Easy to roll out to massive markets – a message (e.g. SMS) is sent to the end user. By accepting, user downloads an application that installs on the phone. Total time for the procedure is less than one minute. In order to start the process you only need to know users mobile number…driving down marketing costs.
• Distant enrollment – no need for users to enter the branch – the solution supports Shared Secrets. Speeds up adoption rate.
• Web applications – makes it easy and cheap to roll out new services as well as improve existing ones. Saves running costs.
• Mobile & PC support – user might wish to utilize PC – but still get prompted and authenticated by mobile. Enables more functionality and more opportunities.
• Alert2Transaction - users can be alerted regarding market or account changes, allowing for an immediate secure response to be made by the mobile users. Increases transactions, more frequent communication between bank & customers – increases turn-over per user.
• High security used to increase ease of use - Fewer characters for user to type (we trust the finger…), therefore users will be attracted to use the mobile network to conduct valuable transactions.