Frequently Asked Questions

CR2’s BankWorld solution enables banks to significantly increase the efficiency of processing transactions on self-service channels and in the designing and launching of new products on these channels.

• Self-service channels can be integrated with each-other, reducing costs
• In-House Design – make your own products easily with BankWorld Studio drag and drop design
• Manage the entire customer’s interaction across all channels from a single point
• Reduce time to market – Quickly design and launch products on all channels simultaneously.
• Simplified administration and reporting
  

BankWorld enables banks to offer various revenue generating self-service banking features to their customers;

• BankWorld P2P Payments allow customers to send or receive funds by SMS using their mobile phone or any other e-channel securely and easily
• BankWorld Money Vouchers are a form of Electronic Cheque that allows users to purchase a nominated amount which can be transferred to another user who can then redeem the cash from the ATM
• Services for Non-Customers such as Bill Payment and Mobile Top-Up provide additional sources for fee generation

BankWorld also enables banks to increase revenues by more effectively selling products;

• Instant Product Acceptance gives customers the ability to instantly accept product offers directly through the self-service channels contributing to an increased uptake of such offers
• Pre-Approved Offers such as instant loans can be accepted by customers directly at self-service channels contributing to an increased uptake of such offers
• Increased Cross-selling and Up-selling potential from more effective Segmentation and Targeting

BankWorld Mobile enables banks to provide mobile banking services to all customers regardless of the technology they use.

The solution is optimised for SMS, WAP, USSD, Mobile Web Browser and smartphones. The solution is also available regardless of the telecommunication operator used.

With Smartphone and Tablet Banking Apps, banks can offer their customers an array of innovative and convenient services that allow them to carry out banking transactions when and where they want without visiting the branch.

BankWorld Mobile enables banks to launch iPhone and Android mobile banking apps as well as tablet banking apps that work with iPad and Android tablets.

BankWorld’s Product Factory facilitates the speedy design and launch of products across all channels simultaneously.

BankWorld Studio’s drag and drop product design approach enables bank staff to easily design new products without having to be proficient in developing code.

Using BankWorld Channel Manager and ATM Distributor, products can then be launched from one point across all channels instantaneously.

BankWorld provides banks with a host of segmentation tools that enable them to more effectively segment their customer base and offer a more personalised service to them. It allows banks to treat each customer as an individual and not just another transaction.

• BankWorld gives banks a 360 degree view of their customers’ activities across all channels
• Analyse and group customers by profile and behaviour
• Clearly identify which products to sell to which customers
• Cross-sell and up-sell your products more effectively to your customers
• Offers can be accepted instantly across any channel
• With BankWorld, banks can turn their ‘Self-Service’ Channels into ‘Self-Selling’ Channels

By enabling banks to offer non-customers a host of services such as Bill Payment and P2P Payment Acceptance at their ATMs, BankWorld enables banks to automatically acquire new customers at this channel.

Non-customers using these ATMs can be targeted with specific promotions aimed at attracting them to the bank.  Should these non-customers express interest in the bank, they can easily enter their information directly at the ATM and can be targeted with relevant offers in the future.

Accepting a P2P payment at the ATM effectively creates a new account for the non-customer with the bank. They can then be encouraged to open a full account with the bank and provide their details directly at the ATM to find out more.

The ability to offer such services to non-customers not only exposes them to offers and promotions from the bank in the hope of acquiring them in the future but facilitates increased revenue generation through fees and charges as well.

• BankWorld Money Vouchers are a form of Electronic Cheque that allows users to purchase a nominated amount which can be transferred to another user who can then redeem the cash from the ATM.
• BankWorld P2P Payments allow customers to send or receive funds by SMS using their mobile phone or any other e-channel securely and easily.
• Instant Product Acceptance gives customers the ability to instantly accept product offers directly through the self-service channels which can be processed automatically without the need for manual operations.
• Pre-Approved Offers such as instant loans can be accepted by customers directly at self-service channels.
• Card-Less ATM Access allows customers to securely perform transactions at the ATM channel without the use of a card using one time SMS pins or biometric authentication.

BankWorld enables banks to offer a host of features that result in an increase in customer satisfaction.

• More freedom for customers to bank when and where they want
• Option of banking through an increased variety of channels
• Customers get a more consistent view of their accounts across all channels
• Immediate product acceptance across all channels
• Innovative new services such as P2P SMS Payments and Card-Less ATM Access
• A more personalised banking experience receiving offers relevant to them
• Anti-Fraud features increase the strength of a customer’s trust with their bank

BankWorld’s unique integrated multi-channel approach brings many benefits for banks.

• Reduce the cost to serve customers by up to 20% with an integrated multi-channel strategy
• Launch multi-channel services such as P2P SMS Payments and Card-Less ATM Access
• Single view of customer’s activity across all channels
• Better understand your customers with more effective business intelligence tools
• Offer customers a more consistent banking experience
• Products and offers can be accepted instantly across all channels

BankWorld has vast experience successfully integrating with more than 65 different back-office systems in banks with both single and multiple back-office systems.

Integrating multiple back-office systems together is integral in getting all channels to work together. This is how we can provide a single customer information file and a consolidated view of all accounts including credit cards.

CR2 uses the latest technology standards to ensure high security for its cards. BankWorld Cards are EMV, 3DES and PCI compliant.

Customers are also able to access an ATM without the need for their card using one time passwords and biometric authentication.

Strong Anti-Fraud measures can greatly reduce the cost of fraud to a bank while also strengthening the customers trust with them. BankWorld provides the following innovative Anti-Fraud features;

• Card On/Off Control lets customers activate or deactivate their cards whenever they want to using a simple SMS command. If the card is not activated, they can rest assured that it cannot be used.
• Multi-Channel Verification such as One-Time SMS Passwords provide additional security to customers
• Decoupled Cards are linked to an account that is kept separate from other accounts the customer may have with the bank to minimise risk in case the account is compromised
• SMS Transaction Notifications give customers peace of mind about their account and the knowledge that if their card is used, they will be alerted
• EMV, 3DES and PCI compliance for all cards