Yalamanchili ships white-label mobile wallet app for banks

Source: Yalamanchili

Global payments solutions provider, Yalamanchili, has launched a white label mobile wallet application for global banking and financial institutions operating on its next generation payments platform.

The wallet provides Yalamanchili's clients with a comprehensive and fully customisable mobile banking facility capable of supporting international money transfers, the management of multiple card accounts and a variety of mobile value added services, rewards and location based offers.

The secure mobile wallet application will enable banks and financial institutions to respond to increasing demand for a wide variety of mobile financial services. The user-friendly interface offers a high-level of functionality, enabling users to top-up card balances, view transaction histories, purchase prepaid airtime from local telecom providers, suspend card activities and even request PIN changes for ATMs. The application can be fully branded according to the clients requirements and its functions either activated or held in reserve according to each individual client's specification.

"The key to producing a valuable white label mobile wallet solution is to build in as broad a range of service support features as possible," comments Chris Ellis, President - Europe at Yalamanchili. "Our solution is as flexible as it is powerful, and can be implemented and issued by any of our international clients, regardless of currency or location. The extent of the customisation options available in the wallet is a reflection of the unrivalled flexibility that our next generation payments platform currently provides to clients. This application gives banks and financial institutions a rapid and direct route into the mobile market, together with all the opportunity this provides for generating additional revenues, deepening relationships with customers and enhancing their understanding of consumer buying habits. We're very excited about the added value that this service will deliver."

Yalamanchili provides retail banks, card programme managers and their corporate customers with the tools and services needed to create and manage their own card products liberated from the constraints of f the traditional legacy platform processor model. This approach dramatically reduces the cost and lead time required to bring a card product to market and places far greater control and product flexibility in the hands of both issuers and programme managers throughout the lifecycle of the product.
Yalamanchili's next generation payments platform provides direct access to, and control over, product configuration down to individual card parameters in a controlled environment. This presents enhanced empowerment and offers unrivalled flexibility to Yalamanchili's clients, allowing them to recognise and act upon trends in cardholder demand on the fly. The introduction of a mobile wallet application extends these capabilities to serve the mobile channel, enabling clients to quickly establish a foothold in the rapidly expanding international market for mobile banking and m-commerce.

Yalamanchili's payments processing solutions are in worldwide use across a wide range of sectors, including retail, banking, transit, corporate, telco, government and healthcare, bringing scalability, flexibility and support to emerging payments.

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