Cyclos Independent Online and Mobile Banking Platform By

Cyclos: Independent Online and Mobile Banking Platform By: Camilo Ramada Roder van Arkel Dr. Shahadat Khan

Social Trade Organisation STRO (Social Trade Organization) • • Foundation of STRO Focus on monetary issues since the early nineties Development of monetary methods Development of Cyclos software Objectives & motives • • • The vision of Mervyn King, governor of the Bank of England. Optimize the circulation of purchasing power in local communities and regions Create innovative solutions that increase the purchasing power through new forms of money and credit

From conventional banking to economic innovations Activate unused/spare capacity for SME’s (Punto. Transacciones) • • • C 2 C and C 2 B transactions E-commerce Communication platform Solution for taxi companies (C 3 Uruguay) • • Integration with taxi central communication system (GPS) Facilitating administration. Social currencies (Brixton pound) • • • Local credit Stimulate local trade Stronger local cohesion Banking the unbanked (Progoti) • • Branchless banking Entry level mobile services for agents and clients

The Cyclos platform Cyclos project • • • Project history, present and future Why Open source? Support & funding Payment platform • • Double entry transaction system Dynamic accounting structure Modules • • • Marketplace (e-commerce) Brokers, loan agents, operators Alerts, notifications and messaging system Business qualifications, transaction feedbacks CRM module Access channels • • Web POS (Point of Sale), credit/debit cards Mobile (SMS, USSD, Smartphone) Interfaces (API)

Cyclos design Objectives • • Secure Flexible User friendly High availability, data integrity, performance Open • • • Open Source Build on open platforms Independent (not bound to providers - do it yourself) Building extensions Join the project!

About Progoti Systems Leading software developer and mobile financial system provider in Bangladesh • • A team of technology and business veterans Extensive global and local experience from diverse industries Offers end-to-end mobile financial solution and service • • • Products and platform Professional services and system integration Sure. Cash banking network - hosted service for banks and other partners

Sure. Cash Mobile Banking Network by progoti Systems Grameen. Phone Bangla. Link Robi Tele. Talk Airtel City. Cell Sure. Cash Mobile Financial Service System Banks Utilities Retail Agents Merchants NGOs/MFIs Insurance Post Office

Sure. Cash Implementation using Cyclos Bank Software Customers & Agents Bankers & Management Web Application Cyclos USSD Application AN TR G I S USSD GW SMS Server Mobile Operators SMS Application SC Web. Services (REST) Web-Services CXF Data Access Objects (DAO) Hybernate Database

Sure. Cash Mobile Banking Network Connectivity Other MNOs Teletalk STP SMSC IN Customers & Agents Payment Partners Payroll Billers Retailers Insurance Bus ticket SIGTRAN USSD Gateway MFS Platform Mobile Financial Service Platform CBS Banks

Mobile Banking Using SMS plus USSD Push (c) Push USSD Message Sure. Cash Send Money: To: 017125126446 Amount: 2, 000. 00 taka Enter PIN to confirm. Teletalk Sure. Cash System USSD App. Server (a) Send SMS “SND 017125126446 2000” to short code 16222. Customer Works with all GSM operators. End-to-end security using own USSD gateway. (b) m. Banking Server VAS Server Bank

Financial Inclusion Using Mobile Banking in Bangladesh ü National ID card ü Financial awareness from micro-credit ü Very large inward foreign remittance & 2 million garments workers ü Encouragement from Bangladesh Bank ü BTRC aligned with central bank Mobile banking Banked – now (15%) Mobile coverage (60%) Total population

Withdrawal at Agent Using USSD 1 Request Withdrawal 7 Pay Cash 2 Request Get Confirmation m. Banking Platform Agent Notify Withdraw customer cashto. Sure. Cash Mobile Banking Processing… Please enter amount 6 b {ll] ll l withdraw: 1 Withdraw 017125126446 Withdraw customer cash Transaction successful: Processing… enter customer wallet 56455 1 Please Customer Cash Please 5000 enter amount Wallet: 017125126446 to withdraw: Please enter customer Amount: 5, 000 taka 2 number: Deposit Customer Cash Amount: 5, 000 taka wallet number: TXN ID: P 000123 5, 000. 00 taka Amount: Please enter PIN to Current balance: 30, 440. 10 Ll lll Sure. Cash Mobile Banking 1 Withdraw Customer Cash 2 Deposit Customer Cash 3 Open Account 4 Bank Cash-in 5 Bank Cash-out 7 Check Balance proceed: 8 Report taka Available Cash 9 Change PIN 3 Open Account 4 Bank Cash-in *5678# Please enter PIN to OK Cancel Reply OK Reply Clear Cancel 5 Bank Cash-out 6 proceed: A 2 A Money Transfer 7 Check Balance 8 Report Available Cash 9 Change PIN Wallet Value Agent + 1000 Customer - 1000 Fees Confirmed Customer 4 Withdraw cash request Notify lll {ll] LLll Withdraw cash Amount: 5, 000. 00 taka 45637 Amount: 5, 000. 00 taka request – TXN ID: P 0000123 Please receive cash from Please enter PIN to confirm: agent. 6 a Commission Commit 3 Transaction successful: Amount: 5, 000 taka PIN to 5 Database Pleasebalance: enter Current 17, 440. 90 taka confirm: OK Reply Cancel

Thank you! Thanks for your attention Information www. socialtrade. org www. cyclos. org www. progoti. com Contact camilo@socialtrade. org roder@socialtrade. org shahadat@progoti. com