CellTrust Corporation, the leading supplier of secure mobile messaging and applications, has announced the launch of its SecureSMS Mobile Banking and Payment Pilot for the African region.
CellTrust recently partnered with Maxim-Pro Ltd, based in Abuja, Nigeria, to secure and mobile enable their successful banking platform with the view to extending secure mobile banking and payment services to under and un-banked populations.
Within the first few months of operation, uptake is expected to be high for the new Secure SMS/Text Mobile Banking program launched via CellTrust's Global SecureSMS Gateway. The pilot will allow end-users to make mobile cash transfers, payments and securely access other microfinance banking products.
"Microfinance banking institutions and cash agents will continue to play a major role in the successful implementation of the pilot and indeed the mobile branchless banking value chain," explains CellTrust CEO Sean Moshir. "Securing the mobile branchless banking value chain against fraud is a major challenge for the region. CellTrust's SecureSMS Appliance puts these concerns to rest by providing a solution that delivers advanced security and unprecedented reliability."
Fraud reduction is high on the agenda across Central Banks in Africa. New security requirements for mobile financial management insist both the financial institutions and their distribution networks take a high level of responsibility in protecting the end user.
"We are experiencing a clarion call for more security, and in the case of mobile text banking or SMS banking, Central Bank officials are legislating requirements for SecureSMS with multiple levels of authentication and encryption along with a clear audit trail for compliance," said Samuel Ucheaga, Managing Director, CellTrust of Africa.
Turning any phone into a secure communication device, CellTrust SecureSMS provides end-to-end privacy on the mobile device via a highly encrypted, tamper-proof process while enabling message sizes up to 5,000 characters. A remote wipe functionality that ensures users can wipe the handset if it is lost or stolen adds another critical la layer of security. CellTrust SecureSMS Appliance is the first global enterprise appliance to offer secure SMS communication between handsets and enterprise applications and handsets with highly encrypted end to end security in compliance with HIPAA, FISMA, and Sarbanes-Oxley, ensuring that information is kept private and only delivered to the intended recipient. CellTrust's award winning SecureSMS Appliance and Gateway reaches 200+ countries and over 700 carriers.