Mobile Banking makes the full functionality of Electra Internet Banking available on mobile devices. The interface and use were optimised for the size and capacity of these devices so that users can manage their finances in an easy and comfortable manner, regardless of their current geographical location.
The service is designed to make it easy for users of both touch-screen devices and devices equipped with five-way directional navigation pads to easily access all functions. Templates and dropdown menus allow users to enter as few data as possible and so they can submit orders with just a few clicks.
Financial institutions can introduce the service as a supplement to an existing Internet Banking service, or as a standalone product. Electra allows banks to make the Mobile Banking system accessible to customers subject to a separate agreement made by the given customer and the bank, but it also provides an option to automatically display either the Internet or the Mobile Banking interface, depending on the device the user uses to access it.
Using this service requires nothing but a mobile phone, PDA or iPhone/iPod Touch device complete with a browser application and an Internet connection.
Due to the design of Electra, users do not need to remember any new user IDs or passwords. They can use the same ones as for the Internet Banking service.
Who is it recommended to?
The Electra Mobile Banking System can help each banking customer segment with managing their daily banking transactions.
When having only mobile internet access, retail customers will find it much easier to manage their banking transactions using a user interface which is optimised for mobile phones. They have access to the same information and can perform the same transactions as in Internet Banking but Mobile Banking will offer them much more comfortable and faster user experience. Besides that, Electra Mobile Banking requires negligible data exchange via the Internet, thus it is not only fast but also cost-efficient.
For corporate customers, Mobile Banking provides mobility with respect to installed client programs and allows, for instance, corporate heads and financial heads to perform any banking transactions anywhere and anytime. Since Electra's various electronic channels cooperate with each other, it is also possible for a person duly empowered to sign on behalf of the customer to authorise and submit order packages input or imported via the client program from any location in the world.
It is also suitable for small and medium corporate customers and enterprises even as a standalone banking service, but it can also supplement the services of both Internet Banking and the client program.
Since the range of mobile phones, smartphones and PDAs is growing at an incredible rate, it would be impossible to list all the devices that can be used to access this service.
Such devices include:
- phones running Android 2.1 or later operating systems
- devices running iOS 3.0 or later (iPhone, iPod Touch)
- PDAs and mobile phones running Windows Mobile 6.5 or 7 operating systems
- phones running Symbian OS 9.1/S60 or S40 operating systems
- phones with Blackberry OS4.6 or later operating systems
- phones running the BADA operating system
- and Opera Mobile and Firefox Mobile mobile browser applications.
Electra Mobile Banking users can access all information available to Electra Internet Banking users (except for export/import and print functions). They can query their
- account balance,
- account history,
- account statements,
- transactions completed on the current day,
- credit card details.
Among other things they can view
- exchange rates,
- notifications (direct, postal and other special ones),
- account blocking details and
- existing standing orders and term deposits.
Orders can be sent individually or in batches. In the case of order batches, Mobile Banking also supports the multiple signatories function and can also communicate with the client program, which means that any order entered via the client program can be signed and sent to the bank even through the Electra Mobile Banking service.
The service provides access to all existing orders registered in the Internet Banking service, such as
- HUF payments,
- FX payments,
- FX conversion,
- deposit transactions,
- direct debit/credit transactions and
- SEPA and PriEuro orders.
All authentication methods available with Internet Banking can also be used for Mobile Banking except for chipcards.
Obviously, signing orders with a password received in an SMS is the most secure one of these authentication methods. Advanced mobile devices can receive SMS messages while browsing the Internet, which means that users of such devices can check incoming SMS signature messages while signing orders, then return to the browser and continue the signing procedure where they left off, without having to log in into the service again.
It is important to note that in this case we have two independent channels (the Internet and the mobile phone network) and the mobile phone as a physical device to provide for authentication, therefore, this authentication method is not weaker in any sense than the one used with Internet Banking, and it offers the same strength and reliability.
The required authentication method can be set individually, on a user-by-user basis, so it is possible for the bank to demand different authentication methods from specific users or user groups.