PATsend is a bank-branded mobile funds transfer solution designed to enable financial institutions to compete head-to-head with other funds transfer providers. PATsend customers can quickly transfer money from their bank account to another person’s bank account via mobile phone anywhere in the world.

Examples: Person to Person

Parents sending money to students Splitting a restaurant bill

International remittances Social money

End User Experience

Customers download the bank-branded PAT software to their mobile phone, giving them access to all PAT services available from their bank.

PATsend prompts the customer through the transfer process, including account selection, amount, and recipient phone number.

Abbreviated Call Flow

Benefits to Financial Institution

• Increased revenue (fee income from transactions, foreign exchange revenue)
• Decreased costs (check processing, labor)
• Ability to leverage existing processes, infrastructure and settlement network
• Innovative offerings to attract new customers
• Improved customer retention

Benefits to Financial Institution Customers

• Greater convenience and mobility
• Bank brand they can trust
• Faster transactions by eliminating time consuming paperwork
• Confidence in the security of their personal information
• Potential cost savings to transfer funds
• Already own the required hardware (i.e., mobile phone)
• Flexibility of a single generic interface capable of accessing a limitless number of people
• Fast, convenient, secure, low cost
• Only need to know the phone number of the recipient
• Recipient bank account details are not required