Modefin OEBP – Mobile Wallet
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.
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.
Customer can perform the following transactions from the mobile app: