Microfinance to play vital role in Secure SMS Mobile Banking Pilot: CellTrust CEO

Microfinance Focus, Feb 17, 2010: CellTrust Corporation, 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. 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, the report said.

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