StanChart Upgrades to Cellulant’s Release 3.0 Mobile Banking Platform

Standard Chartered bank of Kenya has upgraded its electronic payment system to cater for the steady increase in demand for mobile based payment solutions; this development comes amid reports indicating an impressive growth in mobile banking services in the country. At least each mobile service provider in Kenya offers mobile based money transfer services allowing subscribers to pay for goods, utility bills, buy tickets and transfer cash to and from their bank accounts. Safaricom’s Mpesa service which pioneered the segment in the country enjoys a commendable market share with Airtel Money following at a distant. Since Mpesa’s inception back in 2007, mobile banking in Kenya has gained a lot of ground bringing onboard many subscribers who previously dint have access to formal banking services. Standard Chartered Bank is set to use Cellulant’s platform codenamed Release 3.0 in realizing its ambitions.

Cellulant’s Release 3.0 mobile commerce platform allows various stakeholders such as banks, merchants, digital service providers, bulk payment providers and other agencies to carryout mobile banking services on Google’s Android platform, Apple’s iOS, USSD, SMS, and Java Applications. According to Kenya’s StanChart consumer banking director, the banks decision to upgrade to the new mobile commerce platform developed by Cellulant was informed in its entirety and based on the platforms robustness which allows the bank to customize different products targeting various markets across Africa. Standard Chartered Bank customers will now be able to initiate transactions through text messages which can be scanned and stored on mobile devices for a couple of days if the mobile phone is not activated within range courtesy of Cellulant’s Release 3.0 application. In addition, Standard Chartered consumer banking director pointed out the banks intentions to triple mobile commerce usage and establish it as an alternative channel to its range of services.
Release 3.0 developed by Cellulant boasts of a robust platform that brings together various core banking systems with highly secure encryption features, monitoring and channel management business tools. In addition, the mobile commerce platform also aggregates various bank channels such as internet banking and ATM machines to allow consumers enjoy services such as secure PIN management, card-less withdrawals, SMS alerts on mobile phones for ATMS, bill presentment and payment. Apart from Kenya, Cellulant has its presence in 9 other African countries including Tanzania, Nigeria and Ghana; it’s been Standard Chartered’s main mobile banking partner for about three years in five countries. Cellulant has over the years developed into a major force in provision of mobile based solutions thanks to 15 percent revenue investment in research and development.

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