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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

A Small Market Case Study

“Discussion of practical issues faced by Electronic Commerce and ICT in developing markets”

  • Seth Cechetto
  • Chief Information Officer
  • Maduro & Curiel’s Bank N.V.
  • The Market
  • Telecommunications
  • Websites, Shopping Malls
  • Online Applications
  • Security
  • Cell Phones
  • Currency
the self service continuum
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 …….
market place
Market Place
  • Population
    • Aruba: 90,000
    • Netherlands Antilles: 212,000
  • Per Capita GDP
    • Aruba: $22,000
    • Netherlands Antilles $11,400
maduro curiel s bank n v
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.
maduro curiel s bank n v1
Maduro & Curiel’s Bank N.V.
  • Delivery Vehicles:
    • 33 branches
    • 86 ATM’s
    • 4,000 POS Terminals
  • Alternate Delivery:
    • Internet
    • Telebanking VRU
    • Leased Lines
telecommunications network
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.
telecommunication challenges
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)
  • Issues:
    • Leverage examples already on the web.
    • Don’t try to compete with the major international portals. Add value.
shopping mall
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.
online applications
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.
  • 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)
security cont d
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
it s a cell world
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”.
it s a cell world cont d
It’s a Cell World cont’d
  • How are we helping consumers:
    • Credit Card and Cheque book notices using
    • Online real time recharge of cell phone.
  • Issues:
    • Cell applications and connectivity have much wider consumer potential and benefit.
currency challenges
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.
currency challenges cont d
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.