Modefin OEBP – Mobile Wallet
Modefin
Modefin is a Digital Omnipresence Ecosystem Banking Platform that enables the financial institution to provide engagement touchpoints for their clients in extending their banking services. The platform also provides a robust solution for addressing the Financial Inclusion global mandate. Modefin Mobile Wallet allows the customer to open a Wallet Account with easier KYC and allows the customer to transact from their mobile devices. The Wallet solution is Telco agnostic and is a solution for Low Income population that provides less operational overhead.
Global research is still showing high ratio of unbanked population. Penetrating in new market segments such as the unbanked, digital banking and agent banking are challenges for the banks, especially as extending those services to new customers should be achieved while keeping costs low.
Reach the unbanked
Use an efficient Engagement Solution that adapts to the banking industry’s best practices and offers alternative channel (wallet) for banks, and reach the populations that traditional banking methods fail to reach.
Handle growth of customer base easily
To keep the costs low, banks need to be able to expend without adding new branches and ATM. Modefin offers a scalable platform that can handle the growth of the customer base with reduced hardware infrastructure & maintenance costs.
Fast deployment
With FusionFabric.cloud, banks get an integrated solution with Essence and Equation that can be deployed in 3-6 months and overcome the slow reaction to the internal digital transformation that banks usually manifest.
General information
How it works
Customer can perform the following transactions from the mobile app:
Powerful Wallet Management
With digital onboarding, Mobile Wallet provides banks alternative method in reaching and including the unbanked to the financial ecosystem: customer dashboard and profile, wallet summary, history and statements.Transfer and send capabilities
The customer can manage the payees, do same and inter wallet transfers, send and/or request money via wallet.Payments via wallet
Any kind of payment is possible with Mobile Wallet application: bill, utility and government payments, and the customer can also pay the invoices by QR code.Advanced services
The application also offers a set of handy services: credits, loan and savings individually or by group, cardless withdrawal and rewards & loyalty.
How it looks
Payment for any type of service or event
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