The WOOBADGE : a reliable and tamper-proof biometric authentication innovation which is unique in the world.

The WOOBADGE is a biometric authentication tool, which ensures the traceability of transactions and the remote identification of users.

The functions of the WOOBADGE
- The monitoring and transparency of the transactions carried out within the bank acceptance network: bank branches and nominated agents.
- Secure enrolment of WOONEO users who do not have a bank account, or do not wish to declare an account or debit card.
- Tamper-proof identification of issuing transactions, such as receipt by all WOONEO users.
- An additional compliance guarantee for the banks in the fight against money laundering.

WOOGROUP’s aim 

WOOGROUP wants to provide a network for and optimise the large number of customers who are not part of the banking world, to make them eligible for the current banking system.

For the northern hemisphere countries :
WOOGROUP’s service allows a “different type of bank” to be created which complements the current banking services.
It offers the possibility of attracting new customers and developing existing customer loyalty, whilst providing a network for the large number of people who avoid the banking system.

For the southern hemisphere countries :
WOOGROUP’s service provides a unique opportunity. It provides a secure and efficient solution to the major problems associated with extending banking facilities.
We give everyone the opportunity to open a prepaid account as an alternative to a traditional bank account, whilst providing a full range of formal financial services.

- it is not linked to a bank account, but to a prepaid electronic money account held in the bank’s books,
- it can be topped up by various means, but does not allow any form of credit: only the prepaid amount is available to spend,
- it is unique and accessible thanks to the choice of a range of secure personal identification details across all channel types: physical branch, terminal, mobile phone and internet,
- it is coupled with a remote biometric authentication tool which is unique in the world, and which provides unprecedented monitoring and checking of all customers and transactions.

As agreed with the banking institutions, it can be marketed in places other than banks (supermarkets, convenience stores, etc.).

Our network of nominated agents is based on :
- Proximity
Local shopkeepers and distributors: your nominated agents have close relationships with their customers on a daily basis. This ensures you will reach those living in the remotest areas, where the traditional banking networks have a limited presence.

- Reliability
The WOOBADGE: a biometric authentication tool which is unique in the world, is the cornerstone of the reliability and security of the prepaid financial services and products distributed by a nominated agent.

- Accessibility
To provide a service for these customers while being profitable, the cost of a nominated agent is insignificant compared to that of a traditional bank branch. Our network of nominated agents does not compete with the bank branches. This network complements that of the traditional banking network.

Our vision is to make WOOCORE, the secure integrator of technologies, available to the banks in a range of formats: debit cards, the internet, our new generation terminal and the mobile phone.

- WOOCORE is a range of proprietor formats, “soft” and/or “hard”, which is completely independent from the market’s major technology groups.
- WOOCORE has made unique technological choices along the entire chain: architecture, logistics, maintenance, cost and monitoring software.
- WOOCORE manages to make dramatic cost reductions compared with the competition, thanks to a global technical organisation.

Then, WOOGROUP wants to reach the general public thanks to its WOONEO brand, by means of the banks’ distribution networks and their nominated agents.
- WOONEO provides secure prepaid financial services for sending or requesting money to or from an individual either in cash or electronically.
- WOONEO is an accessible, simple, universal and secure, system which makes prepaid financial services available to everyone.
- WOONEO makes exchanging money convenient.

SIMPLE : accessible via all channel types : physical branch, terminal, mobile phone and internet.
UNIVERSAL : accessible to everyone, with or without a bank account.
SECURE : exceeds all current security and compliance standards.

For and by the banks, the new universal standard for transferring money between people

Thanks to new technologies, the WOOCORE platform connects the 2 worlds of money transfer, cash and electronic money, to make them accessible to all.

WOOGROUP allows the banks to attract customers who do not have a bank account and who are avoiding them, and provides a global and cross-functional service in this regard which meets all the expectations of a banker.
Our system has been designed “for and by the banks”: it is integrated directly into their economic system. WOOGROUP is not competing with the banks, but complements the services they already offer.

Customers enter a network strategy based on 2 formats :
- a local «cash corner» run by a nominated agent: the ability to establish a fast, high value and very profitable distribution network (bank branch and nominated agent) in a given area,
- a new generation of terminal, which heralds the virtual branch of the 21st century, with a unique urban design providing great and simple functionality at an incredibly low cost.

A system for developing customer loyalty
- The intelligent qualification of BDD customers, in order to be able to recommend the best targeted products.
- A dedicated community environment with a WOONEO consumer brand with strong values for the benefit of the bank.
- A profitable system, not included in the current system, which attracts, provides a network for and optimises the large number of customers with and/or without a bank account, at the least cost to the bank.
- A system which increases the availability of the bank’s own services and products.
- A system which guarantees the establishment of a network which can be quickly and consistently integrated into the area.

- Allowing it to gain customers who do not have a bank account and who expect the appropriate services: attracting and providing a network for those without a bank account for the benefit of the bank.
=>  At stake : a market of 3 billion people without a bank account

- Meeting the expectations of customers with a bank account who expect innovative services which complement their bank account: providing a network for those with a bank account for the benefit of the bank.
=>  At stake : over 300 million electronic accounts

- Putting itself in a position to recapture a share of the money transfer market between individuals, via an innovative and secure alternative to the services provided by the major money transfer operators.
=> At stake : an annual market of 600 billion dollars

Exchanging money remains complicated, limited, expensive and a source of fraud

The money exchange market suffers from inadequacies in the services provided by the major specialised operators:
- prices deemed excessive,
- “2 speed” operation which favours those with a bank account and exploits the market of those without a bank account.

This market is rooted in the old model, not having benefited from recent technological developments:
- lack of speed of traditional transfer operations,
- accessibility reduced to the opening times of physical branches,
- inadequate security: identification procedures not optimised and often out-of-date,
- little overlap between different types of access (mobile phone, internet, physical branches).

Half the world’s population does not have a bank account
- 2.8 billion adults, i.e. just over half the world’s adult population, do not use any formal financial services.
- Of these adults without a bank account, 2.2 billion live in Africa, Asia, Latin America and the Middle East.
- In sub-Saharan Africa, 80% of the adult population, i.e. 325 million people, are still without a bank account, compared with just 8% in the developed countries of the OECD.

The migrant community is growing rapidly
- In the countries of the northern hemisphere, migrants have become the segment of the population with the largest demographic growth.
- In the United States, the Spanish Americans are now the largest minority group, growing five times faster than the rest of the population.
- Europe is a migratory region with over 70 million migrants, making up almost 9% of the population.

The money transfer market is booming
- The financial service most used by migrants is the periodic transfer of money. In 2010, the worldwide transfer of funds exceeded USD 600 billion, transferred by around 280 million immigrants.
- The IFAD (International Fund for Agricultural Development) estimates that between 40 and 70% of this was via the informal network. According to the UN, this market is expected to see an increase in demand until 2050.