Use cases

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

Real time inter bank settlements Introduces 24×7 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.