mFino Agency Banking Solution

Expand to unreached markets Agency banking is a means to provide limited scale banking and financial services through authorized agents under a valid agency agreement. It is a proven way to reach unbanked and under-banked areas and get high volume, low value transactions flowing for the financial service provider.

mFino Agency Banking Solution offers a fully featured, easy to deploy solution to power the digital transformation of financial service providers. mFino’s multichannel agency banking application enables agents to perform financial transactions on behalf of your customers, such as deposits, withdrawals, bill payments, top-ups, transfers, remittances or even apply for financial products such as loans and insurance.

Products and Services

Money transfers | Savings and deposits | Withdrawals | Top-up and bill payments | Bulk payments | Micro-insurances & Credit | International remittances | Ticketing

mFino Agency Banking Solution allows you to:

  • Increase cross-sales through large agent network (Nano-loan disbursements, insurances and deposits)
  • Shift low value, high volume transactions to agents and reduce load on branches
  • Tap large inbound and outbound remittance markets
  • Expand your footprint to under-served markets with low capex
  • Scale up to different market segments and regions with targeted offerings
  • Serve unbanked and rural areas with low population density
  • Lower fixed cost in conducting transactions (78 cents in bank branch compared to only 4 cents in agency banking)

Solution Features

  • Comprehensive Agent Operations: Real Time Settlement of Commissions | Easy Monitoring of Transactions | Interactive Dashboard | Raise Queries and Invoices
  • Flexible and Customizable: Bulk Payment Services from Wallet | Seamless Integration of Other Channels | Easy Onboarding of Customers | E-KYC Capabilities | Omni-channel Presence for Seamless Interactions of Multiple Channels | Easy Configurability
  • Multi-Tenant System: Multi-Currency | Multi-Lingual | Multi-Tenant
  • Analytics and Insights: Business Intelligence | 360° Customer View | Cluster Analysis | Push Customized Offers

Value to the End Customer

  • Financial inclusion
  • Banking at door-step reduces time and cost to service
  • Personal Finance Management

Highlights of mFino Partnership

  • Accomplished team with exposure, from multiple global deployments
  • Technical consultancy to set up an effective Agent Network
  • Product tailoring based on market research and local context