Mobile banking app at CeBIT

London - 2 March 2012

Printed bank transfer slips are still remarkably widespread as a bill insert – despite numerous digital developments. On behalf of a German bank, GFT Technologies AG has now created a solution which brings the two worlds together. At CeBIT in Hanover, Germany, the “Picture Money Transfer” prototype will be presented: an innovative mobile banking app with which smartphone cameras can digitise and intelligently process bank transfer slips.

For the first time, more smartphones will be sold in 2012 than conventional mobiles. They’re becoming ever more ubiquitous – and their possibilities are expanding rapidly. Financial services providers are also seeing a significant rise in the uptake of their mobile services. This trend is opening the door to a variety of service and sales opportunities. The financial sector is benefiting from the shift away from the real economy to a world of digital business. “The wide range of functionalities offered by the latest generation of smartphones is making it possible to provide a variety of exciting mobile banking solutions – apps that add genuine value for customers,” says Christopher Ortiz, Managing Director at GFT UK. As a function developed for a German bank, the internationally operating IT service provider will be unveiling a compelling example of this potential at this year’s CeBIT.

The “Picture Money Transfer” solution revolutionises the handling of pre-printed bank transfer forms. “Until now, customers had to go online to enter the details shown on the paper form manually, or hand the slip in at a nearby branch. Either way, this resulted in considerable manual processing time – for both the customer and the bank,” says Ortiz.

With the new “Picture Money Transfer” app, this belongs to the past. Developed by GFT as a prototype for CeBIT, this extension to the bank’s award-winning app is impressive not just for its user-friendliness but also its extreme practicality. Information already printed on the transfer slip can be quickly digitalised and edited directly. The customer photographs the transfer form with the iPhone 4S’s high-resolution camera. Details on the form – the payee, their account number, the bank sort code, the currency, and the payment information – are captured by the OCR software and transmitted to the mobile online banking system, which automatically processes the payment, checks the data and completes the transaction.