Imagine the nearest coffee shop becoming your bank's branch
Banks can ally with existing retail outlets — such as convenience stores, gas stations and post offices — to deliver financial services to customers even in hard-to-reach areas.
build the trust
People know the merchants, since they already frequent them for other purposes—for instance, purchasing groceries, fuel or picking up mail. They may even have developed a level of comfort with the proprietor and the staff. That could make customers likelier to entrustsuch a retailer with their finances.
Agency banking is a type of branchless banking that allows the traditional banks to extend their network of branches and services in a cost-efficient manner through existing retail outlets, such as convenience stores, gas stations and post offices.
Financial services in geographically dispersed locations
Banks work with existing retail outletsto deliver financial services to unbanked low-income customers in hard-to-reach areas at a lower cost.
Retail outlets increase their sales volumes and have an opportunity to develop deeper relationships with customers.
Financial institutions reach a vast new customer segment in hard-to-reach areas at a lower cost.
Customers in hard-to-reach areas gain convenient access to financial services in their own communities.
Banking services at the Agent store
New customer onboarding, account opening, micro loans, installments.
Payments of social benefits, salaries or pensions. Cash and vouchers disbursement.
Who can become a banking agent
Self-employed persons traveling between villages
By teaming up with retail outlets in low-income, often hard-to-reach areas, financial institutions can create value both for themselves and their new customers.
Alberto Chaia | McKinsey &Company
Agency banking solution
Solution for Banks to onboard and administrate banking agents network, payments and financial services, monitor agent devices and terminal applications.
Banking agent self-registration service
The Bank can provide a web interface for self-onboarding to its new potential agents and perform the necessary checks during onboarding process to verify that all of the merchant information is captured as per regulatory KYC requirements. Onboarding workflow configuration is flexible and can be adjusted to meet the Acquirer's requirements.
Fully remote and digital
web interface or smartphone app
Agent digital application
During the enrolment process, the Agent will answer several questions and submit necessary data in digital format to the bank using Agent self-service portal.
Back office application review
Agent KYC check
After the Agent's digital application is submitted, the bank can processes Agent's eKYC, match the face with the government-issued document and government central citizen registry, verify all of the collected information to approve or decline Agent's registration.
Remote configuration loading
Agent device activation
After the eKYC processes completed and Agent account is created, the Agent will activate remotely Acquirer's Smart POS terminal or Soft-POS to download the configuration from Terminal Management. The bank can provide video training for Agent's staff in Agent Portal. .
The Remote POS Key loading procedure meets all PCI DSS security requirements – the keys are transmitted over a TLS-protected communication channel with additional encryption using the B2B protocol.
Full Agent lifecycle administration: Digital onboarding, eKYC, Identity management, agents administration, fee and limit configuration, payment management, agent device management, dashboards and reporting.
Banking agents workplace
Read and Display QR code
Smart devices with embedded back camera and higher resolution display. Devices with embedded printers for QR code printing on customer's slip.
Secure payments with credit and debit cards, with smart cards and devices, including smartphones, tablet PCs and other mobile devices, that use RFID or NFC, e.g. Samsung Pay, Apple Pay, Google Pay, Fitbit Pay, etc.
Smart devices with embedded back camera supports verification by Face recognition and National ID document. Devices with embedded finger scanner provide fingerprint verification.
Merchants can accept debit cards and customers can withdraw cash as per card limit. Cash by Code allows customers to generate special code for cash withdrawal from their own account at Merchant store.
Payments and remittance
Products and services purchases, P2P, P2B, B2B, P2G, B2G payments, incl. money transfer, bill payments, fee and tax payments.
Non financial transactions
Account opening, Micro-loan applications, customer account balance inquiries and mini-statements.
Bank Agent's smart devices
Secure payments with credit and debit cards (Magnetic stripe reader, chip reader, NFC contactless)
QR code payments
Embedded back camera to scan Customer QR, higher resolution display to present Merchant QR. Devices with embedded printers for QR code printing on customer's receipt.
Biometric data enrolment (fingerprint, face) and registered customer verification
Secure contactless payments with smart devices, including smartphones, tablet PCs and other mobile devices, that use RFID or NFC, e.g. Samsung Pay, Apple Pay, Google Pay, Fitbit Pay, etc.
Bill & tax payments
Payments (P2P, P2B, B2B, P2G, B2G), utility bill payments, fee and levee payments, account top-up, telco ewallet
National ID and passport verification
Identification document scanning for account opening application, loan application, Balance inquiry and Mini-statement
Smart POS terminals with proprietary OS
The SmartPOS is a new generation solution for merchants looking for a next generation payment device but still close to traditional POS.
Smart POS devices with Android OS
The Smart merchant's device with Android OS is an extremely easy, safe and secure choice for merchants looking for a next generation payment device. The Smart merchant's device offers multifunctional capabilities and optimizes the checkout process for merchant business.
EMP2920 ID Tablet for Data Capture & ID Verification
Agents smart workplace for customers digital on-boarding
Fingerprint Scanner: Resolution up to 500dpi, 320 480 pixel photo
Photo Capturing: High resolution webcam on both sides, adaptive light
Smart Card Reading: Support both contact and contactless
Signature Collection: Up to 640 × 480 dip resolution, up to 512 pressure level
Optional Expansion: Swipe MRZ Reader, External 1D / 2D Barcode Scanner, External Signature Pad and External IRIS Module
Agent self-services portal
Our Agent Portal is easy-to-use for merchants and helps bank to work efficiently. Responsive WEB-based user interface for all types of smart devices.
Agent digital onboarding
Collecting information from the agent to speed up and automate onboarding process
Transaction details, real-time update of authorization transactions including pending for settlements.
Detailed view of reconciliation process for each transaction or selected period.
The dashboard allows users to see real-time device data, such as device information, location and usage statistics. Merchants can add different widgets to make the dashboard more useful and personalized.
Past period statements, reconciliation related reports, exception and reversal reports. Each report is available for download in various formats or upload on SFTP.
Messages between agent and bank staff, bank news and offers.
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