Arkalogic Finamo is an end-to-end mobile financial transaction solution for financial institutions, banks, independent service providers and merchants. This highly adaptable mobile solution enables a mobile economy by allowing everyone with a mobile phone to pay, buy and transfer money.
Our platform creates deeper, more valuable relationships with banks, merchants and customers. No matter what core processing or online banking system you use, we can quickly deliver a robust, secure financial solution. We provide the most integrated and well-supported solutions in the market.
Arkalogic aspires to be better than the established benchmarks, bridging the gap between mobile technology and point-of-sales systems. The enormous diversity in its technology has partnered Arkalogic with some of the leading payments technologies worldwide.
As an innovative platform for financial transactions, Finamo exploits the utilisation of mobile channels. This allows financial institutions to address a wide range of business objectives, including service extension, cost savings and direct marketing, while providing customers with a secure and easy-to-use tool to support their financial activities.
Finamo's features and functionalities include:
The method of electronic transaction offered by Finamo is very easy to use. It provides users with an option to execute payment transactions by using an application embedded into the smartphone or with the implementation of Finamo smartcard.
Finamo uses technology which is commonly utilised for payment transactions.By implementing the same standard, Finamo has high potential to interact with various electronic payment systems currently available worldwide. Along with the prospect and expectation of society for a multi-purpose and stored-value micropayment instrument such as e-money, the success of Finamo also relies heavily upon the willingness of merchants to accept e-money.
Merchants have quite significant expectations considering the advantages of e-money over cash or other non-cash payment instruments. In comparison with cash, e-money transactions are faster and more convenient, particularly for low value transactions (micropayments), since e-money users do not have to carry exact bills or keep change.
Moreover, its non-cash nature may reduce merchant's operational costs as a result of lower cash handling cost. E-money is also more time efficient than debit and credit cards since it does not require online authorisation, signature or PIN.
Another advantage over credit and debit cards is that e-money transactions may be executed offline, thus resulting in lower communication costs. Its electronic stored value makes e-money easy to be reloaded through a range of available medias so that it may reach multiple segments of the society, including those who do not yet have access to the banking industry, to use non-cash payment instrument.
For financial institutions:
Arkalogic has built its reputation as a leading technology provider in the financial services industry. Arkalogic enables business transformation by increasing operational efficiency, helping financial institutions stay agile, and delivering a competitive edge with unmatched certainty.