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Ondot Systems Brings Mobile Card Controls to AsiaSilicon Valley fintech company expands into Asia, enabling banks to empower consumers with payment cards control on mobile SINGAPORE, March 13, 2018 /PRNewswire/ -- Millions of users across 3,000 banks and credit unions globally work with Ondot Systems to manage their payment cards and spending. Today, Ondot has announced the availability of its Mobile Card Services solution in Singapore and across Asia, enabling banks in the region to give customers the control and security they seek over their credit and debit cards. Ondot's Mobile Card Services is a white-label solution that resides in the card issuer's data center, creating an interplay between the user, payment, and data in real-time. As a result, consumers can use mobile applications to control when, where, and how their payment cards are used; and card issuers can anticipate and create personalized cardholder journeys. Using Ondot's solution, banks typically experience a benefit of increased card usage by 23%, reduced fraud costs by 25%, and lower false declines by 16% -- achieving a return on investment in under a year. "We use our own personal experiences and needs as cardholders to drive the product innovation," said Rachna Ahlawat, Executive Vice President of Ondot Systems. "I travel a lot -- I want a solution that knows where I am so my card works around me, prompts me to customize my preferences, detects when I am back home, and helps me categorize transactions -- a personal assistant that anticipates my actions and solves a need. In addition, if I get a transaction alert for a purchase I did not attempt, I want to initiate a dispute instantly. This action usually shuts off the card inthe bank systems; but I don't want to be left without a payment card to use till I reach home. With Ondot's safe mode card controls, we can enable this capability -- converting an unpleasant event into a positive experience for the cardholder by combining security and convenience." Ondot product suite for consumers includes:
Ondot's administrative product suite for card issuers includes:
Ondot's consumer product suite integration into Mobile and Online Banking is available via API, SDK, HTML5, as well as bank-branded companion application or stand-alone application. "The payment landscape is evolving rapidly in emerging markets like ASEAN. Banks can provide a holistic experience to consumers and deliver new products and services over legacy systems in a cost-effective and timely manner using new micro-service platforms. Partners like Ondot enable banks to stay as innovation leaders while bringing in the best of fintech into banking," said Ian Guy Gillard, CIO of Bangkok Bank, the largest commercial bank in Thailand and one of the largest banks in Southeast Asia. Ondot is exhibiting and demonstrating its innovation at the inaugural Money20/20 Asia 2018. For more information, visit Ondot's booth at K32, at the Marina Bay Sands Expo & Convention Centre. About Ondot Systems To learn how Ondot is shaping the future of payments, visit www.ondotsystems.com. For media enquiries, please contact: Eugenia Siah / Elizabeth Joseph SOURCE Ondot Systems |