Frost & Sullivan Award Reaffirms Fundamo's Technology Leadership of South African Smart Card Market

Fundamo has extended mobile banking into Africa and other international markets

LONDON, September 6 /PRNewswire/ -- The 2006 Frost & Sullivan Technology Leadership Award in the South African smart card market has been conferred on the South African mobile banking and transactions solutions company, Fundamo. The company's progressive solutions have enabled organisations to provide much needed mobile banking services across Africa and to international markets such as the Middle East, Latin America and the Asia Pacific. These countries, like South Africa have have limited access to banking services and often have a high growth potential. The award recognises Fundamo's innovative products, exceptional service support and overall technical excellence.

A global leader in the provision of these mobile banking services, Fundamo has very few competitors, partly because it offers an enabling service and unlike some of its closest competitors, is not seeking to compete with banks. A key contributor to Fundamo's success is the extensive set of best practices they offer to assist clients with the full project lifecycle to ensure successful business delivery. Success on these projects relies on more than reliable technology, it relies on a holistic approach which includes everything from business modelling and product design to the operations management in the long-term.

"Their products have extended the prospect of mobile banking to a larger number of South Africans and are enabling emerging markets in Africa and abroad to be amongst the most innovative when it comes to mobile banking," observes Frost & Sullivan Smart Card Analyst Lindsey McDonald. "Moreover, the time to market these products has been reduced because of the provision of high quality service support."

The company's comprehensive product range includes mobile solutions for corporates as well as more specific mobile banking and transactional solutions for individuals. While businesses are catered for through the provision of services such as airtime vending, bill collecting, business mobile banking and delivery payments, product offerings for individuals include services such as mobile banking, person-to-person payments, prepaid airtime purchases, bill payments and mobile authentication amongst others.

"Fundamo is distinguished by its ability to offer specific solutions as well as additional enablers that add value to its existing mainstream solutions and thereby allow clients to accomplish more," notes Ms. McDonald. "Clients are further supported by strong professional services that aid in the effective implementation of the company's solutions."

For instance, Fundamo provides additional channels that allows for the support of a variety of mobile technologies. Another example is multiple account support, which permits Fundamo's clients to operate more than one transactional account per customer. These enablers allow clients to provide additional services such as card issuing, transactional accounts and supplementary facilities such as shared platform support and reporting databases.

Technology excellence has underpinned the company's success. Its solutions can be deployed alongside various mobile technologies such as short message service (SMS),USSD, SIM Browser and interactive voice response (IVR) among others. Outstanding technical service support covers areas such as project management, product, technical and process specifications, technical installation, integration services, technical and business training and most importantly -product customisation to suit client needs.

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