Agent Banking

Banking At Your Doorstep

Agent Banking

FinMOBICONNECT facilitates affordable micro transactions. It is an easy way for the banks’ customers to send and receive payments without visiting the bank. Anyone with a registered mobile service can use this feature. It will enable banks to spread banking to remote regions.FinMOBICONNECT can be extended to provide Banking through a retail outlet, postal outlet or individuals contracted by a bank to process client transactions. It is a departure from the conventional brick and mortar branch based banking framework.The service supports –biometric, card base & PIN base, payments interfaces on all wireless devices & multiple operating systems and can be implemented through any of these – POS Terminal, Mobile Phone, Laptop or Tablet in conjunction with external accessories.

Finacus offers Agent Banking solution for the banks to deploy Agents or Business Correspondents along with their mobile devices who can extend banking services in remote areas with no access to bank branches triggering Financial Inclusion. The people need to have a mobile number registered to receive real time updates about their transactions carried out by the agents. This concept of Door-to-Door banking also has applications in easy customer on-boarding and improved customer servicing in other areas. The system is backed by FinMOBICONNECT.

Why Agent Banking?

  • 2 billion people worldwide and 200 million Indiansare still unbanked as per the latest reports
  • Enhanced customer service by ensuring system availability and quick complaint resolution
  • High level of convenience due to proximity of banking services and lesser dependency on banking hour
  • Helps in Financial Inclusion

Transactions Supported

  • Cash In (Deposits)
  • Cash Out (Withdrawals)
  • Repayment of Loans
  • Bills payment
  • Mobile/DTH Recharge
  • ATM/Debit Card PIN change
  • Funds Transfer
  • Account Enquiries
  • Loan Application & Lead Generation along with Document Capturing

Features

  • The service supports –biometric, card base & PIN base, payments interfaces on all wireless devices & multiple operating systems
  • Supports multi-modal agent interfaces: POS Terminal, Mobile Phone, Laptop, Tablet in conjunction with external accessories
  • Flexible reporting and reconciliation frameworks
  • Supports modular and SoA based architecture
  • Provides Remote device management & software upgradation
  • Value added services like bill payments, mobile, TV DTH recharge, ticketing, insurance premium payments, bill payments etc can be added on the same interface
  • Interfacing with NPCI’s payment structures like IMPS, AEPS and ABPS

Benefits

  • Cost Effective - Reduced infrastructure, set up, acquisition and running costs
  • Wide Customer Base - Tap unbanked markets
  • Additional Distribution Channel - Doorstep delivery of banking services
  • Customer Loyalty - No queues, doorstep services, flexible working hours, increased awareness
  • Financial Inclusion - Quality delivery of financial services in remote areas with government support