Use cases

Tereon deliv­ers value across the fin­an­cial sup­ply chain. Below are some examples and poten­tial benefits:

Real time inter bank settlements Intro­duces 24x7 RTGS operation

Sig­ni­fic­antly reduces hefty non-compliance fines

Removes con­straints and costly reg­u­lat­ory administration

T+0 trad­ing Mul­tiple trades per day settled in real time

Reduces set­tle­ment risk

Increases com­pan­ies book value

Fin­an­cial Inclusion Greater con­trol and dis­sem­in­a­tion of wel­fare payments

Stepped access towards fin­an­cial ser­vices for the unbanked

Pos­it­ive con­sumer adop­tion — removes asso­ci­ated stigma

Digital cheque processing Imme­di­ate real-time cheque clearance

Advanced auto­matic fraud detection

Sys­tem entry pushed out to the con­sumers smartphone

Digital KYC & AML Cent­ral­ised sys­tem accessed and updated by FI members

Con­trol thresholds and report­ing in real-time

Real-time veri­fic­a­tion irre­spect­ive of access method

Real time lending Extend­ing fur­ther value to consumers

Reduces admin­is­tra­tion costs

Increases mar­ket share through imme­di­ate acceptance

Real time money transfers Dif­fer­en­ti­ates in a highly com­pet­it­ive market

Imme­di­ate trans­fer arrival confirmations

Part­ner­ing with cor­res­pond­ing bank­ing net­works to provide ubiquity

Multi cur­rency wallets Huge bene­fit and con­veni­ence for reg­u­lar travellers

Sig­ni­fic­ant attrac­tion for cus­tomer loyalty

Cur­rency con­ver­sion costs retained by bank rather than credit card companies

Par­ent — child digital wallets Intro­duces bank­ing brand to younger audience

Greater par­ental con­trol of child’s spend patterns

Retains funds within bank accounts, improves liquidity

Mer­chant Digital banking Rapid and cost effect­ive mar­ket entry for new mer­chant adoption

Cre­ates new digital rails there­fore bank retains greater por­tion of chargeable fees

Rapid cre­ation of new cus­tomer focused ser­vices for mer­chant e.g. digital loy­alty points

Below are some Retail Bank­ing use cases:

Make and receive payments:

  • mobile con­sumer to mobile merchant
  • mobile con­sumer to online mer­chant portal
  • mobile con­sumer to mobile mer­chant where the cus­tomer is not present
  • con­sumer account to mer­chant account from within the account portal
  • NFC-Tereon card con­sumer to mobile mer­chant; and
  • NFC or other card con­sumer to card merchant
  • con­sumer to mer­chant (util­ity payment)

Trans­fer and receive funds:

  • con­sumer account to con­sumer account from within the account portal
  • mobile con­sumer to mobile consumer
  • mobile con­sumer to card consumer
  • card con­sumer to mobile consumer
  • card con­sumer to card consumer
  • mobile con­sumer to non-user
  • card con­sumer to non-user
  • non-user to non-user
  • non-user to mobile con­sumer; and
  • non-user to card consumer

Make and receive refunds:

  • mobile mer­chant to mobile consumer
  • card mer­chant to mobile consumer
  • mobile mer­chant to NFC-Tereon card consumer
  • card mer­chant to NFC or other card con­sumer; and
  • mer­chant account to con­sumer account from within the account portal

Deposit and with­draw funds:

  • mobile con­sumer to mobile merchant
  • mobile con­sumer to card merchant
  • card con­sumer to card merchant
  • NFC-card con­sumer to mobile merchant
  • NFC or other card con­sumer to card merchant
  • non-user to mobile mer­chant (with printer); and
  • non-user to card merchant

View account details and mini-statements:

  • mini-statements via mobile device; and
  • mini-statements via a card device

Tereon is not restric­ted to the use-cases illus­trated and wel­come discussions.