Telefónica and Bankinter link for financial cloud platform
28 July 2011
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Telefónica and Bankinter link for financial cloud platform
Telefónica Group signed a collaboration agreement with Gneis, the IT unit of Spanish bank Bankinter, to jointly develop and test a new cloud-based platform for financial institutions in Latin America.
The platform will enable Latin American financial institutions to offer customers mobile banking services, and act as the basis for the development of new products and specific functionalities. It is envisaged that the platform will create the potential for new commercial channels for banks, providing customers with “always open” access to their accounts.
Services will be offered to financial institutions under a pay-per-use model to minimise the need for banks to invest up front. The cloud-based nature of the offering means that banks will also be able to offer access to all their customers, regardless of their mobile service provider.
The two companies stressed that the agreement goes beyond technology, offering financial institutions in Latin America the chance to share experience and knowledge of deploying mobile financial services.
This solution will help financial institutions to grow their business with new products and to serve a larger number of customers via mobile channels. It is also expected to save costs with greater efficiency in distribution and operation, and to provide new security features for services.
The two companies will initially collaborate on small-scale customer trials of the platform, before a commercial launch across Telefónica’s entire Latin American footprint.
Continued momentum for mobile financial services in LatAm
The partnership with the Bankinter subsidiary in Latin America is another step towards Telefónica Latinoamérica building a business offering mobile financial services across the region. It is notable that the telco is working to deliver services that are not tied too closely to its own retail mobile network operations in the region — for example, the partnership with MasterCard on mobile payments and financial services is intended to be made available across operators and banking groups and not just Movistar (Telefonicawatch, #52) .
In Europe, mobile financial services models are currently struggling with territorial battles, with operators and banks apparently focusing more on their own retail markets rather than creating a wider ecosystem. While there are clear signs that players are moving on from this isolated approach, as evidenced by recent plans for collaboration on standards by UK operators including Telefónica UK (Telefónicawatch, #55), and wider work by the major European players in areas such as branding (see separate report), it would appear that Telefónica is taking a lead in the emerging Latin America market in creating an enabling business that is closer to a wholesale model.
[Further reference: Telefónica y Bankinter se unen para impulsar una plataforma en la 'nube' de servicios de movilidad para entidades financieras en América Latina.-- Bankinter, 27 June 2011.]
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Ongoing tracking and insight into Telefónica Group; delivering valuable insight into the labyrinth that is Spain’s global telco giant.
A unique monthly report for the industry.
- Telefonicawatch is the only independent monitor of everything and anything to do with Telefonica Group, worldwide. Nothing else comes close. Thorough, impartial, accessible, and time-saving.
- Covering not just a leading European and Latin American integrated telecoms group and one of the world's top-five players and its many operating companies, but also its wider interests, including the Atento contact centre business, Vivo in Brazil, Telecom Italia, Portugal Telecom, and China Unicom.
- Our ‘watch' titles are repeatedly described by clients and end-users as the single most valuable source of third-party sales intelligence, and are considered invaluable by many high-achieving commercial teams and account directors.
- A unique source of valuable opportunities, knowledge, planning, strategy, and much more, the reports represent both tactical tool and strategic reference, providing input and even a springboard for corporate planning, reporting, and meetings.
- A ‘must-have' for sales teams focused on high-value sales, maintaining strategic relationships, and managing extended sales cycles. Just one nugget, insight, or validation can pay for the service many times over.
- Pricing is typically USD $8.2k / EUR 5.7k / UKP £5k per year for an Account Team Licence, and can be tailored to meet your specific needs and situation. Copies of individual reports are also available, priced from UKP GBP £999 (USD $1,650 / EUR 1,100). Multiple purchasing options available, including payment cards.
- Delivered electronically 10-12-plus times a year, with back issues also available, providing unparallelled reference and insight into major events, strategic initiatives, financials and KPIs.
- Contact us for further information, including samples and evaluation trial requests. info@marketmettle.com / +44-20-7183-0111.
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