Cyclos: Independent Online and Mobile Banking Platform
By: Camilo Ramada
Roder van Arkel
Dr. Shahadat Khan
Social Trade Organisation
STRO (Social Trade Organization)
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Foundation of STRO
Focus on monetary issues since the early nineties
Development of monetary methods
Development of Cyclos software
Objectives & motives
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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 (PuntoTransacciones)
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C2C and C2B transactions
E-commerce
Communication platform
Solution for taxi companies (C3 Uruguay)
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Integration with taxi central communication system (GPS)
Facilitating administration.
Social currencies (Brixton pound)
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Local credit
Stimulate local trade
Stronger local cohesion
Banking the unbanked (Progoti)
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Branchless banking
Entry level mobile services for agents and clients
The Cyclos platform
Cyclos project
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Project history, present and future
Why Open source?
Support & funding
Payment platform
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Double entry transaction system
Dynamic accounting structure
Modules
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Marketplace (e-commerce)
Brokers, loan agents, operators
Alerts, notifications and messaging system
Business qualifications, transaction feedbacks
CRM module
Access channels
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Web
POS (Point of Sale), credit/debit cards
Mobile (SMS, USSD, Smartphone)
Interfaces (API)
Cyclos design
Objectives
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Secure
Flexible
User friendly
High availability, data integrity, performance
Open
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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
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A team of technology and business veterans
Extensive global and local experience from diverse industries
Offers end-to-end mobile financial solution and service
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Products and platform
Professional services and system integration
SureCash banking network - hosted service for banks and other partners
SureCash Mobile Banking Network by progoti Systems
GrameenPhone
BanglaLink
Robi
TeleTalk
Airtel
CityCell
SureCash
Mobile
Financial
Financial
Service
System
Banks
Utilities
Retail Agents
Merchants
NGOs/MFIs
Insurance
Post Office
SureCash Implementation using Cyclos
Bank
Software
Customers &
Agents
Bankers &
Management
Web
Application
Cyclos
USSD
Application
USSD GW
SMS Server
Mobile Operators
SMS
Application
SC WebServices
(REST)
Web-Services
CXF
Data Access
Objects (DAO)
Hybernate
Database
SureCash Mobile Banking Network Connectivity
Other MNOs
Teletalk
Payment
Partners
Payroll
Billers
Retailers
Insurance
Bus ticket
STP
SIGTRAN
SMSC
IN
Customers
& Agents
USSD
Gateway
MFS
Platform
Mobile Financial
Service Platform
CBS
Banks
Mobile Banking Using SMS plus USSD Push
(c) Push USSD Message
SureCash Send Money:
To: 017125126446
Amount: 2,000.00 taka
Enter PIN to confirm.
Teletalk
SureCash
System
USSD App.
Server
(a) Send SMS “SND 017125126446 2000”
to short code 16222.
Customer
(b)
mBanking
Server
VAS
Server
Works with all GSM operators.
End-to-end security using own USSD gateway.
Bank
Financial Inclusion Using Mobile Banking in Bangladesh
 National ID card
 Financial awareness from micro-credit
 Very large inward foreign remittance &
2 million garments workers
 Encouragement from Bangladesh Bank
 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
mBanking Platform
Agent
Wallet
Notify
Withdraw
customer
cashtoSureCash
Mobile
Banking
Processing…
Please
enter
amount
6b
{ll]
lll
withdraw:
1Withdraw
017125126446
Withdraw
customer
cash
Transaction
successful:
Processing…
enter
customer
wallet
56455
Please
5000 enter
amount
1Please
Customer
Cash
Wallet:
017125126446
Wallet:
017125126446
Wallet:
017125126446
to
withdraw:
Please
enter
customer
Amount:
5,000
taka
2number:
Deposit
Customer
Cash
Amount:
5,000
taka wallet
number:
TXN ID: P000123 5,000.00 taka
Amount:
Please enter PIN to
Current balance:
Ll lll
SureCash 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
Available Cash
30,440.10
taka
9 Change PIN
3 Open Account
4 Bank Cash-in
*5678#
Please
enter
PIN to
OK
Cancel
Reply
Reply
Cancel
OK
Reply
Clear
5 Bank Cash-out
6proceed:
A2A Money Transfer
7 Check Balance
8 Report Available Cash
9 Change PIN
Value
Agent
+ 1000
Customer
- 1000
Confirmed
Customer
4
Withdraw cash request Notify
Fees
{ll]
{ll]
lll
LLll
Withdraw cash
Amount: 5,000.00 taka 45637
Amount: 5,000.00 taka
request
–
TXN
ID: P00000000123
Please receive cash from
Please enter PIN to confirm:
agent.
6a
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