Boost financial inclusion with branchless banking services

image
image
image
image
image

Simplified branchless banking services

Agency banking is a win-win situation for both banks and customers as it allows the banks to cut their costs and customers to avail banking services in a simplified manner.

  • Empowering people with financial inclusion.
  • Parallel economic development
  • Social stability
  • Overcoming poverty

Components of the agency banking ecosystem

Agency banking consists of many participants that are involved in achieving a common goal. Below mentioned are all the participants that are a part of the agency banking ecosystem.

Regulatory compliance

Nexgweb’s agent banking solution comes with all the major regulatory compliances like GDPR and PCI-DSS.

Agent network

Agent Banking enables you to manage hierarchy, commission structures, and reconciliation of the agent network.

Adaptation

Agent Banking Solution is easily adaptable to the functionalities of the central banking system.

Use cases

Agent Banking Solution comes with multiple use cases like KYC, cash withdrawal/deposit, loan, insurance, etc.

Security

Agent Banking solution employs advanced security parameters like 3DES security, SHA1, and bcrypt hashing.

Customer acquisition

The NFC integrated Agency Banking solution offers a highly secured communication protocol that facilitates contactless

Nexgweb’s agent banking solution empowers its various participants

Agency banking consists of many participants that are involved in achieving a common goal. Below mentioned are all the participants that are empowered by Nexgweb’ agent banking solution.

Financial Services Provider

The agency service provider performs various functions such as operating service, cash handling, license & regulatory compliance for services, and marketing branding. Agency Banking offers financial service providers with:

  • Additional earning resources
  • Additional earning resources
  • Opportunity to upsell specific services to newly acquired customers

Banking agents

Banking agents are simply the retailers that are authorized by the respective banks and financial institutions to perform a variety of banking functions like cash deposit/withdrawal, and many others. Agency Banking offers them with:

  • Increased revenue from additional walk-ins
  • High-grade secure transactions
  • Additional business offerings

Customer

The customer is the one who gets the benefits of agency banking. Generally, the customer is an individual who doesn’t have a bank account but has access to mobile services. With Nexgweb’s agent banking, the customer receives benefits like:

  • Transactions in assistance mode
  • Transactions in assistance mode
  • Financial services for the unbanked