Mobility and convenience are the primary needs of any customer when making a transaction. Banks & financial institutions should focus on offering mobile payment services to increase customer satisfaction, expand their customer base and generate new revenue.
Modefin’s mobile money/wallet solutions offer banks and financial service providers the ability to meet the transaction needs and demands of the modern-day consumer. It is a flexible and scalable solution that can be seamlessly integrated into your bank’s core banking system. Our solution is easy to deploy; it can be deployed in the cloud and on-premise. It is a robust, secure and well-integrated mobile payment solution that helps to achieve financial inclusion, improved payments, and enhanced service delivery.
Features
P2P Fund Transfer
It allows for an easy, quick and convenient way to perform a peer-to-peer transfer. Your customers can transfer money to another wallet and even to non-wallet customers. The Modefin’s digital wallet solution also enables your customers to add and delete beneficiaries.
Airtime Top-Up
Banks can offer mobile top up, DTH, and prepaid mobile recharge services for various operators such as Airtel, MTN, etc via the Mobile Wallet Solution. Customers can do top-ups to their phone as well as to another phone and can also add or delete beneficiaries.
Payments
Digital Wallet users can perform bill payments from utility bill payments, merchant payments to ticketing, tax, and insurance payments. The solution supports QR code, ID-based and card-based merchant payments. Your customers can also book tickets for a movie as well as air, rail and bus tickets.
Service Requests
Using the mobile wallet account, your customers can carry out service requests like changing the PIN, accessing transaction detail, viewing the full statement, change the language and inviting a friend.
Personal Finance Management
The digital wallet solution provides your customers with a holistic view of their expenses through the personal finance management tool. The tool enables your customers to set goals, track spending, receive goal alerts and earn loyalty points through the mobile wallet app.
Remittances
The mobile wallet app can be used for both domestic and international remittances via bank, Western Union or Money Gram, etc.
Account Services
Through the digital wallet solution, banks’ customers can perform the following activities:
- Self-Account
- registration and Opening
- Balance Enquiry
- Mini Statement
- Cash Out (Agent / ATM / Branch etc.)
- Cash In (Linked Bank A/c, Credit / Debit Card)
Advanced Modules
In addition to the standard services, Modefin’s digital wallet solution also provides rich financial services.
- Support for card-less withdrawal over ATM
- Micro Saving
- Micro Lending with full-fledged credit scoring
- Support for Card Reader, printing receipt and NFC
- Social Banking – Share, send, spend & track money with friends from social media
- Integration of smart POS and mPOS to accept card transactions
- Biometric authentication with Fingerprint and Touch ID
Benefits
Ready to serve Mobile-based Financial Inclusion Solution
Ability to create and share Multi-Level BC / Agency Network across the customer (depending on operational arrangements)
Rich flexibility & feasibility at the back end to ensure that all the stockholders of mobile commerce manage the system to meet country-specific compliances.
Built-in Core Banking / Accounting Capabilities
Compliance with PA DSS
Single Platform for Multi Delivery Channels with one-time integration for all channels. Enable / Disable channels based on priority.
Reduced dependency on Middleware & Core Banking System.
Reduced hardware infrastructure & maintenance cost and multi-vendor dependency
Save money & time for maintenance & support along with reduced time to marker for new services
Enhanced customer satisfaction which in turn improves employee efficiency.
Single Administrative Dashboard for all channels and Uniform services for all channels.
Help Management to take decisions on channel performance and potentiality.
Accelerating the digital transformation of banks with intelligent & innovative digital banking solutions
Modefin offers a suite of ready-to-market digital financial products tailored to meet the needs of the banks and financial service providers and helping them to accelerate digital adoption.
Modefin Clients
The meaning and depth of any business are valued considering the customers it has garnered. We at Modefin are grateful to our customers and clients whose patronage has helped us build on our efforts to succeed and give our best. These are the very persons, institutions and industries who vouch for our efforts and acclaim the reliability of our solutions. Our customer experience goals gain value when we receive affirmation of our efforts.
