WAY4 Customer-Centric Multi-Channel Banking is presented in Moscow
OpenWay shared its vision of client-centric multichannel banking service on the WAY4 platform
March 28-29, 2012 - Moscow, Russia
OpenWay, a leading international developer of software for issuing and acquiring of payment cards and e-money revealed new opportunities for retail banking using the WAY4 solution at The Retail Finance conference that took place March 22, 2012 in Moscow.
The situation on Russian retail banking market may change in the nearest future. Right now, 80 of 100 Russian banks offer online banking services; however, despite mobile phone use being at 100%, penetration of mobile banking is only 2%. Analysts predict more than 100% growth in mobile banking and more than 30% in Internet banking. The interesting question is how this growth will occur, and who and what will be the catalyst.
According to Anton Kolomiets, director of OpenWay Service's Moscow office "WAY4 provides real competitive advantages in the battle for online clients. The majority of financial institutions offer mobile and Internet banking, so it's important that a client can see the benefits of his particular financial institution's online banking services. That means high-quality online access to familiar financial services.
Competition in the sphere of online banking is not unique to Russia. According to a poll of American consumers, every third client is not satisfied by online service and is looking for a bank with better Internet and online banking. 15% have already changed to a bank providing better service in the virtual environment. The convenience of interfaces familiar to iPhone and Android users are important for success, as is the functional content of each channel. A single ecosystem uniting online banking, ATMs, and kiosks in a single personalized financial environment is now essential, and it must be easy to enrol for online channels. WAY4 makes this possible."