French bank Natixis has chosen Algeria as a world first for the launch of its new mobile banking service. Called "Banxy", this digital bank offers remote banking services enabling customers to be more independent.

Mobile Application for Android:
A mobile bank is a bank account that the user creates from a downloadable application on a smartphone. It allows to perform several banking operations from the phone without moving to the agency, announces the Natixis Algeria team at a presentation conference this Monday, April 23 in Algiers.

"The Banxy service was developed by the Algerian team of Natixis. We chose Algeria as the world's first because the conditions were favorable especially the high consumption of digital services. With this new offer, Natixis Algeria wants to gradually cover the entire traditional banking offer ", informs Boris Joseph, CEO of Natixis Algeria.

He adds that this project, a first in Algeria, tries to enrich the banking offer to customers and simplify access to services. "It's a solution that limits travel. It offers a very high level of security. It is also modular and therefore scalable and will bring new offers in the future, "said the same manager.

Once the Banxy application has been downloaded to the smartphone, the customer creates a user account by filling out a form. Once this step has been validated, an identification will be done by videoconference. To finalize the opening of the account, the legal documents will be directly delivered to the client to collect his handwritten signature.

The account is activated after receipt and verification of the physical file by the bank. "The creation of the Banxy account offers a new user experience that relies primarily on autonomy and accessibility.

With this mobile account the customer can make instant B2B transfers on phone number and also interbank to the accounts of all other banks. He can also manage his CIB card and his check book, consult the balances, the statement of operations ", details Boris Joseph.

A customer relations center is still available, especially for opening the account by videoconference in case of difficulties. But also to bring information about the use of the application.
security

Banxy uses state-of-the-art video-identification technology and computational algorithms to ensure the security of its customers and their data. Users log in securely to a bank server, located in Algeria, with their username and password.

A PIN "super PIN" is configured by the customer to validate each transaction. In case of theft or loss, the customer can oppose or block his card from the Banxy application.
Natixis Algeria officials said that the functionality of Banxy will be improved and supplemented as and when.::

Advantage :

• instant transfer via P2P Technology
• Does not require any revenue conditions
• Open for public, anyone can open account
• Availabilty of CIB Cards, Checks
• Easy to Locate the agencies of Natixis Algeria
• Banxy to Banxy or to any other account domiciled in any bank in Algeria.
• Depositing a check or cash payment by yourself or a third party.

Cons Shared:

• This service cover only Accounts in local currency with interbank banking card CIB, does not support international payment and not linked with visa or mastercard.
• The application size exceed 80 Mo on android and about 145 Mo on IOS mobiles, , which take too long time on download, most Users pay attention to this point on reviews.
• Banxy can not be installed on "jailbroken" or "routed" phones
• Does not operate foreign transaction in EUR/USD ...
• Limited to national use only
• Banxy is not supported on tablets