Itaú Tokpag Qorus Banking Innovation Awards 2014

Transfer money is as easy as sending a message. The Itaú tokpag application (available for iOS and Android) identifies, who in your contact list, have already installed the app to realize money transfers via peer-to-peer (P2P). Several opportunity points created a favorable environment for the development of this unpublished application in Brazil that transfers money between smartphones, aligning convenience, speed and ease of use: - The growing market of mobile communication: according to IDC, there is a significant growth of smartphones sales in the country, with an augmentation of 110% between 2012 and 2013. - Significant growth of the use of transactions with cell phones: according FEBRABAN data, the growth of the use of cell phones during the last 5 years was 226% / year. - Maturity of P2P technology for mobile applications: ex. Whats App - Publication, in 20/05, of the provisional measure (MP 615/2013) that opened the field for the regularization of mobile payment systems and the creation of electronic currencies, regulated by the BACEN. - Brand Positioning: four of the largest banks in the world already offered this transfer money applications using this technology and none in Brazil: Commonwealth Bank (Australia), Barclays (United Kingdom), Chase e Citibank (USA). The areas that participated directly were Technology (development and management), Business, Corporative Security, Marketing and Call Centers. The principal results until August 2014 ( 8 months after the launch) more than R$20 million transferred, 330k downloads and R $ 360 in average ticket .