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A Small Market Case Study

A Small Market Case Study. “Discussion of practical issues faced by Electronic Commerce and ICT in developing markets”. Speaker. Seth Cechetto Chief Information Officer Maduro & Curiel’s Bank N.V. Agenda. The Market Telecommunications Websites, Shopping Malls Online Applications

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A Small Market Case Study

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  1. A Small Market Case Study “Discussion of practical issues faced by Electronic Commerce and ICT in developing markets”

  2. Speaker • Seth Cechetto • Chief Information Officer • Maduro & Curiel’s Bank N.V.

  3. Agenda • The Market • Telecommunications • Websites, Shopping Malls • Online Applications • Security • Cell Phones • Currency

  4. The Self Service Continuum • Electronic Commerce is not just about the Internet. • Its all about choosing “self service”. • Progress: • Public telephone lines, leased lines to Internet….. • ATM’s, POS, Kiosk, PC’s, Cell Phones, PAD’s, Refrigerator …….

  5. Market Place • Population • Aruba: 90,000 • Netherlands Antilles: 212,000 • Per Capita GDP • Aruba: $22,000 • Netherlands Antilles $11,400

  6. Maduro & Curiel’s Bank N.V. • Complexity: • 5 islands • 4 languages • 2 legal jurisdictions • Full Range of Products: Loans, Deposits, Insurance, Investments, Trusts, Cash Management, Credit Cards, etc.

  7. Maduro & Curiel’s Bank N.V. • Delivery Vehicles: • 33 branches • 86 ATM’s • 4,000 POS Terminals • Alternate Delivery: • Internet • Telebanking VRU • Leased Lines

  8. Telecommunications Network • International: VISA, MC, Outsourcer. • Inter-island: Branches, ATM’s, POS. • Local: Branches, ATM’s, POS, 3rd Parties (e.g. banks, utilities) • Internet: Website, shopping mall, Intranet, Online Banking, Online Cash Management.

  9. Telecommunication Challenges • Small bank with the network complexity of major multinationals. • Issues: Skills, Training, Monitoring • Bandwidth may be available but cost is high. • Issues: Need small scale innovation to overcome challenges (Laser, RAN, Satellite, VPN)

  10. Websites • Issues: • Leverage examples already on the web. • Don’t try to compete with the major international portals. Add value.

  11. Shopping Mall • Issues: • Focus on high volume possibilities in the local market. • Keep it simple (or it will never download). • Need payments in local currency. • The back-end doesn’t need to be all high tech.

  12. Online Applications • Developed Country application vendors are in 3rd generation mode. • Issues: • Made for Broadband environment (too complex, graphical, irrelevant connectivity). Keep it simple and focused. • Need for access to lower cost developers and application vendors.

  13. Security • With Bricks & Mortar, bars and guards can substitute for technology. • The Internet unfortunately “levels the playing field” for security. • Security Issues: • Standards, policies and procedures (e.g. need pre-packaged generic documentation)

  14. Security cont’d • Need Knowledge and Training at reasonable cost • Need innovative outsourcing possibilities: e.g. cooperative secure server farm. • Leverage International partnerships: e.g. eScotia

  15. It’s a Cell World • We estimate that over 80% of Aruba and Netherlands Antilles have cell phones. • At the household level its probably 99%. • About 4x grater than PC Internet connectivity. • “SMS 16 hours per day non-stop”.

  16. It’s a Cell World cont’d • How are we helping consumers: • Credit Card and Cheque book notices using www.HEPA.an. • Online real time recharge of cell phone. • Issues: • Cell applications and connectivity have much wider consumer potential and benefit.

  17. Currency Challenges • International US $ based payments are well established (e.g. credit cards). • Local currency options needed to support domestic Electronic Commerce and ICT. • Issues: • Local Currency credit and debit cards are essential.

  18. Currency Challenges cont’d • A Local Currency Switch expands availability. • Private sector can provide leadership. • Achievements: • Local currency debit and credit cards plus dual currency AMEX Card. • Local currency switch for ATM and POS transactions………. Internet.

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