MIS Research Center Seminar Series
8:30 AM - 11:15 AM
1st Floor Auditorium, Carlson School of Management

Abstract

The exploding usage of mobile phones across the globe has given rise to a new set of opportunities to extend the utilization of the mobile phone to activities way beyond basic communication. Just as the internet brought a whole new set of uses for the computer, data services and new technologies are bringing a new paradigm of uses for the mobile phone. One of the most intriguing aspects of this is how the mobile phone can impact the financial services value chain. Banking, transactions and payments can now be conducted with a significantly higher level of efficiency. The concept of "cash" as we have known it for centuries, can now be redefined. Money, being an informational element, should not need a piece of paper such as a twenty dollar bill, to be communicated to another party. Such information can be easily disseminated via a cell phone. The opportunity and options are far more compelling in third world economies where the financial instruments such as credit cards, ATM machines etc. are not nearly as prevalent as the cellular networks. Banks and Financial processors have a very powerful new opportunity to enable their customers new and innovative products. This session will set some baselines for this field, and brainstorm how this new concept will shape the future of payments.

Biography

Neeraj Bansal: EVP Business Development and Founder

Mr. Bansal has extensive experience in deploying new enterprise technology products, with nearly 10 years of sales and business development experience. He has founded or was a founding member of several successful ventures. Most recently he was Director of Sales and Business Development at CareGain Inc. now part of FiServ. Neeraj was involved with CareGain since its inception, helping to build the company to over 40 employees and a dozen major enterprise clients before acquisition. His role included acquiring and building client relationships with major health insurance carriers and managing partnerships across multiple channels in the insurance vertical.

Prior to CareGain, he was Manager of Sales at firstRain Inc. a supplier of a business and market intelligence solution. He was one of the initial sales managers and was responsible for building a multi-million dollar business for a new concept and product.

Previously, Neeraj was Director of Business Development at NeuVis, responsible for managing several major partner relationships including IBM, which eventually acquired the company. As co-founder and CEO if 3Data he raised a round of capital, including a significant state grant, and brought the company's ecommerce services to several major building product manufacturers and architecture firms.

Neeraj has also held positions at Viant, SGI and Tandem. He is an advisor to several ventures including A1Technology, Infotility, Oryx. He holds graduate degrees in Electrical and Computer Engineering and Business, as well as bachelor degrees in Engineering, Business and Computer Science from Carnegie Mellon.

Related Work: Survey article on the "Economics of Mobile Payments.

The Economics of Mobile Payments: Understanding Stakeholder Issues for an Emerging Financial Technology Application