The Asian Banker

Inmarsat and Onixsat to expand support for financial services market in Brazil
Sep 11, 2013

September 6th 2013 - Inmarsat, the leading provider of global mobile satellite communications services, and Onixsat, a leading satellite communication products and services provider, today announced an expansion of their joint initiative to target the Brazilian banking and financial services market. Onixsat will particularly focus on the opportunities available in the North and Northeast regions of the country.

According to data from Febrabam, the Brazilian bank federation, the country's banking networks grew 79.8% between 2006 and 2010. The majority of this growth focused on correspondent banking and ATM services, both of which are ideally suited to satellite connectivity. In 2011, the data reflected that some five per cent of bank transactions in Brazil were delivered via correspondent banking services (3.5bn transactions).

Inmarsat and Onixsat have identified major opportunities for the adoption of Inmarsat's broadband IP data, machine-to-machine (M2M) and voice services delivered over its award-winning mobile satellite network.

Inmarsat's global, IP encrypted satellite services can enable banks to establish remote and temporary branches which are securely connected to their head office. It also affords the opportunity for shops, restaurants and hotels, among other businesses, to accept bank-card payments using electronic point-of-sale (PoS) devices, which are connected to the merchant acquirer via a highly secure and reliable connection.

Igor Falcão, business manager at Onixsat, said: "Onixsat has set itself the goal of adding 12,000 BGAN and BGAN M2M terminals over the next 12 months to support the take-up of banking services in areas where terrestrial data connections are either unreliable or non-existent."

Drew Brandy, Vice President of Enterprise Industry at Inmarsat said: "Inmarsat is delighted to be working with Onixsat to expand our presence in the Brazilian banking and finance market. Mobile satellite communications is increasingly recognised as a powerful tool for driving economic growth in regions where there is little or no effective terrestrial telecoms infrastructure. Satellite connectivity allows banks to expand their reach and attract new customers, enabling many more people to enjoy the benefits of secure banking facilities, regardless of their location."


Re-disseminated by The Asian Banker

Categories: Technology & Operations
Keywords: Inmarsat, Onixsat

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