MWC2017: G&D wants to drive transition to digital banking

MWC2015By Giesecke & Devrient.

The continuous growth of mobile payment and digital banking requires a combination of instant services and the highest security in all channels. G&D have been among the first providers of omni-channel solutions for banks, driving the digitalization of banking services and empowering financial institutions to enhance their customers’ experience. With its digital banking services Convego Hub and Convego CloudPay, its consumer-centric services such as Convego Issuance, its mobile application platform Convego AppWorld, and its digital identity and authentication services, G&D is one of the leading players in the market for digital banking.

At MWC 2017 (hall 7, booth 7A41) G&D will presents its comprehensive and sophisticated solutions to provide the complete end-to-end identity management for financial institutions, enabling convenient and secure mobile payment.

Banking business and payment is driven by the digital transformation, which means the transformation from Cash to Card to Mobiles and Wearables. While today still the main part of the billions of payment transactions is done by Cash or Cards the number of wearables and mobile devices used for contactless payments is significantly increasing. According to Juniper Research the number of mobile payment users will increase from about 148 million in 2016 to 936 million users in 2021. In addition, the volume of transactions handled by wearables will grow from 3.1 billion $ in 2016 to 501 billion $ in 2021 (Source: Tractica). To support this trend both highest security and user friendliness are key.

G&D’s mobile wallet gives users easy and secure access to all bank services. It’s where virtual credit cards are made available, and where consumers can execute transactions or request bank statements. But it’s also a staging area where banks can offer mobile payments for things like parking fees and public transport, as well as exclusive services created in cooperation with partners such as retail chains.

With Convego Hub, G&D builds a bridge between the real and virtual payment worlds. It provides financial institutions as well as manufacturers of wearables, mobile devices and other third-party wallet providers with secure and flexible payment functionality. The solution comprises enrollment services via online/offline advertising, through to the printing and sending of documents in all known online and offline channels. Services for mobile identities and fraud management, including real-time monitoring, are also included in the product offering.

G&D’s digital banking service hub can be customized to all brands. It unites all essential services needed to be present on digital and physical channels, including cloud HCE (Host Card Emulation) payment, payment card tokenization with connections to major payment scheme token services such as MDES and VTS, mobile app services, identity, and TSM (Trusted Service Manager) hub services. International payment schemes including Mastercard, Visa, and American Express are supported. It offers state-of-the-art security on mobile devices, enables fast provisioning in under 10 seconds, and immediate payment execution.

The Convego CloudPay solution from G&D supports various international payment schemes and has capabilities also to support domestic schemes. It consists of two main components: CloudPay Server and CloudPay Client. The CloudPay Server provides an online interface to banks for the provisioning and life-cycle management of the bank’s payment cards on the end users’ HCE enabled smartphones. The CloudPay Client is a secure software library that is integrated into the bank’s mobile application and provides a secure storage for the payment card data and payment engine to execute mobile payment transactions.

Remote payments are a further growing market segment supported by G&D. Once consumers have their payment credentials securely and conveniently stored on their phone or wearable, mobile remote payments are possible. Connectivity is available worldwide and payments can be easily made through apps or alternatively via mobile web browsers.

When a contract is concluded online, both partners must have confidence in the other’s identity. The G&D solutions enable strong virtual authentication for a wide range of online services for banks, public authorities, and other businesses. Banks can create relevance, gain customer loyalty, and expand their portfolios by leveraging their trustworthiness and becoming providers of identity-related services. In a next step a video ident solution will be provided to make the identity management process even more efficient, convenient and faster.

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Categories: Digital Wallet, Other

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