Digital Channel Technologist PMT™ supports TymeBank to thrive.
It is indisputable that TymeBank is a world leader in digital banking, offering the market’s lowest cost bank account and launching innovations at a breathless pace. Few will know that TymeBank is now almost three years old. Even fewer will know that Pattern Matched Technologies™ (PMT) has supported TymeBank with digital and channel technologies since its inception.
PMT™ launched its USSD Amber™ platform in 2008 and brought it to the banking industry in 2009. USSD constitutes one of the largest digital channels for TymeBank, with over half a million consumers using the channel each month. PMT’s USSD platforms currently host over 10 million active users per month across some of the largest Financial Institutions in South Africa. Some of which have used the service since the commercial launch in 2009.
Mobile security is more critical than ever for Digital Banks. TymeBank’s handset security is enhanced by the PMT™ SIM-Swap detector and blocking platform. It enables the Bank to act in real-time on anything that may look suspicious on a consumer account when a SIM card or handset swap is performed. Unlike competitor systems, PMT™ does not require code to be injected onto the consumer’s handset SIM, nor hardware appliances installed in the IT networks of the Bank. PMT™ worked directly with the Mobile Network Operators (MNO) and was the first to launch this service supporting all MNOs over four years ago. The SIM Security Module is part of the Amber™ Suite and is designed to work seamlessly with all USSD digital channels. Many consumers still consider USSD the mobile digital medium of choice in South Africa and other African territories.
Whilst the USSD bearer remains a firm favourite with all SA consumers and grew significantly over early Covid, the inflated cost of data in South Africa has remained a significant barrier for adoption by the consumers in mobile app digital channel activations. PMT™ also pioneered and was the first to market its corporate reverse-billed data products over four years ago.
Core to adopting the PASA-driven Authenticated Collections initiatives now in full swing, PMT’s Network-Initiated USSD services offers its consumers a real-time service at no cost to the consumer to enable secure and real-time communication with the consumer on its mobile. The Authenticated Collection initiative was launched to curb the rampant fraud perpetuated by the likes of unscrupulous low-value debit-order deduction agents who often signed up consumers for debits on their accounts without their knowledge and with few avenues to query or stop those transaction debits. Hundreds of thousands of debits are being authorised every month across the Financial Industry, and PMT’s NI USSD service is currently used by some of the biggest banks and insurers in the country. In working closely with the Mobile Operators and partners locally, PMT™ was also the first to launch this service commercially in Namibia.
TymeBank also utilises PMT’s Emerald™ Distribution Solutions Platform for many of its Value-Added Service (VAS) partner offerings, including airtime, data, bill payments, and many other third-party voucher integrations. The Emerald™ VAS & Integration Platform is one of the two oldest products offered by PMT™ as a dedicated or shared banking-grade SaaS offering, driven directly through enterprise-grade APIs and other core integration components.
In working alongside world-leading digital innovators & disruptors like Tyme, PMT™ finds this an ongoing privilege and pleasure and a mutual environment in which to innovate, serve the Consumer, and thrive.
Pattern Matched Technologies™ was founded over 15 years ago, focusing on delivering innovation and low costs across multiple industry types, but with a keen focus on the intersection between the mobile and financial sectors. PMT™ has been the first to market with many essential products that enable corporate and consumer solutions at scale. PMT™ is an award-winning software developer, well known for its critical innovations in mobile banking, remittance wallets & debit cards, value-added service delivery and mobile banking security solutions.
The most recent pioneering product, Obsidian™ Service Connectivity Platform, enables service exposure and management of API, IoT & Cellular endpoints through an end-to-end managed solution. By implementing Obsidian™ for your application or website, you can reach the market faster, find new revenue streams and enable your customers and employees to make use of an application or URL, free of charge through reversed billed data. Enterprises are billed directly, receiving preferential rates for aggregated data usage.