Customers using online banking often complain that they are not receiving their One Time Passwords (OTPs) timeously, or feel frustrated when authentication systems fail to speedily deliver the required interaction that lets them continue transacting online.
Moreover, the ability to interact with their financial or insurance service provider from anywhere can be inhibited when they're travelling or unable to access the Internet with ease.
These problems can be overcome with the implementation of NI (Network Initiated) USSD, or USSD Push.
Whilst most South African cellphone users are familiar with USSD, not much is known about its relatively new "cousin".
A faster and more secure way to perform financial transaction authentications than SMS, USSD Push reduces call centre load as the "push" notifications are delivered instantly and do not operate on a "store and forward" basis as with SMS. Clients are also able to interact with and instantly respond to the notification as USSD mimics a "live" session much like a mobi site or an App.
Essentially it enables users to respond, browse menus and make interactive selections in real time.
Best of all, cellphone users who receive USSD Push message are not charged and all responses are free. USSD also works on all mobile phones.
USSD Push can also be used to prevent SIM-swopping fraud.
Recently, Always Active Technologies (AAT) took on the task of making USSD Push systems available to their FSP clients. Through the creation of an API, AAT have opened up the platform to developers in the realms of financial services, thereby enabling them to create USSD Push solutions that create convenient communication systems for both clientele and providers. This USSD Push API can seamlessly integrate into current systems, keeping development costs low, and required integration milestones to a minimum.
USSD Push can be used for:
Internet Banking services
Financial transaction confirmations
The Delivery of One Time Passwords (OTPs) and Card Not Present transactions
Call Centre Authentication
Virtual Private Network (VPN) Logins
The Mobile Network Operators currently regulate USSD Push services and only provide this technology to Financial Service Providers.
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