As a Moroccan banking group with an international presence, Bank Of Africa operates in some fifteen African countries. In Morocco, the Group uses the electronic payment platform MX Payment™ since 2003.
As part of its Pan-African development, Bank of Africa wanted to set up a multi-bank electronic banking platform that addresses two key issues:
Have a global view of banking and electronic payment activities at the level of subsidiaries and Expand the pool of transactions.
As a continuously growing banking group, Bank of Africa expected this solution to accelerate marketing, increase quality in terms of security and optimize transaction processing costs.
To capitalize on its experience and extend the benefits of M2M Group’s solution to other subsidiaries, Bank of Africa has chosen MX Payment™ platform, a globally referenced modular system with an MX-WPC (Worldwide Processing Centre) architecture and specially designed for international electronic processing centres. M2M Group’s solution enables:
1/ Issuing of debit, credit and prepaid cards.
2/ ATM, POS and Internet acquiring
3/ Strong authentication (3D Secure) and management of online risk (as an acquirer and issuer).
4/ Interoperability of international transactions: Visa, Mastercard, Amex, CUP at a national level and GIMTEL, GIM UEMOA, GIMAC and inter-subsidiaries at a regional level.
At high availability, the platform adapts to large volumes. It also complies with major international payments standards -EMV and PCI DSS.
Today, the bank is interconnected with Morocco and several subsidiaries through a common solution for managing electronic transactions, adapted to the specificities of the African economy.
From a commercial point of view, M2M Group’s solution enables Bank of Africa to further develop its banking activities, particularly in terms of product offerings, expand its distribution network and improve its time to market.
At an operational level, Bank of Africa benefits from an increase in efficiency and quality thanks to standardized processes and controls:
1/ Control and optimization of human resources, infrastructure and maintenance costs.
2/ Benefits of a system of supervision and management of activities, including data and their marketing potential.
With the implementation of EMV, PCI DSS and 3D Secure standards, Bank of Africa is strengthening security level of transactions in the countries where the solution has been deployed. New payment channels have been opened, electronic transactions have improved in performance, reliability and volumes.