App covers multiple platforms and communication channels to enhance customer satisfaction and branch productivity.

Allow customers to transact from their mobile devices at any time. Third party agents can use Modifin’s interface to perform transactions on behalf of the bank, meaning customers can fund and withdraw through agents. This provides convenience to customers, an income for agents and overall returns for the bank.

Modefin is partnering with 65+ banks serving 30+ million customers in 3 continents across 20 countries.

Global research shows a high ratio of unbanked population. Financial institutions are willing to penetrate new market segments such as the unbanked, digital banking and agent banking, however they are unable to reach these markets through traditional banking methods. In addition, banks are struggling to reach more customers. High costs in building new branches are preventing banks from providing banking services to unchartered regions. Modefin OEBP – Mobile Wallet is a robust, secure and well-integrated mobile platform and payment solution that helps to achieve improved payments, and enhanced service delivery. It promotes financial inclusion, especially for the unbanked, unserved and underserved citizens.

How it works

Modefin’s OEBP – Mobile Wallet is the result of market research, study of comparative solutions, and assessment of current and future customer needs. From a socio-economic perspective, the OEBP – Mobile Wallet promotes financial inclusion, especially for the unbanked, unserved and underserved citizens. At the same time, the app offers banks and financial service providers the ability to meet transaction needs and demands of the modern-day consumer providing a new era of financial freedom and augments the cashless society vision. It enables an easy, quick and convenient way to perform a peer-topeer transfer, so customers can transfer money to another wallet as well as non-wallet customer. OEBP – Mobile Wallet users can also do top-ups to their phone alongside another phone.

The app enables customers to access a wide range of services via modules, delivered through channels such as USSD, Android and iOS Apps. With the app’s agency banking module, the appointment of an agent helps the bank or telco serve a wider base of customers, some of whom have limited or no access to banking services. Services the agent can offer include cash-in, cash-out, account opening for a new customer, airtime top-up, bill payments and international and domestic remittances. The app is also embedded with a comprehensive administration module in the backend, and a reporting module viewed page-wise in HTML format and downloadable in PDF, Excel and CSV formats. The digital wallet solution provides customers with a holistic view of their expenses through the personal finance management tool.

Modefin OEBP – Mobile Wallet is designed to empower innovative service offerings such as QR code payments, money pooling, micro saving and lending, setting goals and saving towards the goal. The solution connects to Finastra’s Fusion Essence and Fusion Equation solutions for faster deployment and simpler integration

Why Modefin OEBP – Mobile Wallet?

wallet

The app enables customers to transfer money to wallet, and nonwallet customers. It also allows topups to their or another phone.

multiple

Supports SMS, USSD and Internet communication channels, as well as multiple platforms including Android, iPhone and Web.

agent

Agency banking module provides an appointed agent that can offer a wide range of services.

reports

OEBP – Mobile Wallet is embedded with a comprehensive administration module in the backend and a reporting engine for easy creation of complex reports.

integrate

Pre-integrated with Finastra’s Fusion Essence and Fusion Equation the app enables easy and fast integration with the bank’s external system.

Modefin has been named a Star Performer and No. 1 New Entrant under the digital banking and channels category in the IBS Intelligence Sales League Table 2021.

Key benefits

revenue

Increase revenue

Acquire new customers and increase market share with Modefin’s OEBP – Mobile Wallet. Increase revenue from additional interest and fee income.

efficiency

Improve efficiency

Having a single administrative dashboard and uniform services for all channels enhances customer satisfaction, employee efficiency and improves indirect branch productivity by reducing congestion.

risk

Reduce risk

Reduce dependency on middleware and core banking systems, as well as compliance with PA DSS. Provide rich flexibility at the back end to ensure all the mobile commerce stockholders are managing the system to meet country-specific compliances and reduce risk.

reduce

Reduce cost

Reduce hardware infrastructure, maintenance cost and multi-vendor dependency, saving money and time, while reducing time to market for new services.