Mobile Financial Services Platform/Solution
Banking for the unbanked
The world of digital payments is evolving constantly with an increasing number of options available to customers, Mobile has evolved as the ‘device of choice’ to cater to the customer’s demand for easy access to their money through electronic wallets. In both developing markets and the mature ones, this transformation now offers a unique opportunity to businesses – telecom companies, banks or retailers – to re-imagine their digital strategies in tune with an experience-centred world.
Estel’s Mobile Financial Services Solution provides banks, fintechs, MNOs and Money Transfer agencies a secure, robust and scalable platform to provide a variety of innovative services that includes:
- Mobile money / mobile wallets / e-Wallets
- Agency banking
- Mobile remittances / online money transfer solution
- Mobile payments
- Mobile banking
- Card based mobile financial services (m-POS, Micro “Human” ATM)
These innovative applications enable service providers to meet needs of millions of customers in countries where banking services are not easily available or accessible.
Advantage of Estel's Mobile Financial Services
- Increased Market Penetration
- Enhanced Customer Loyalty
- Increased Operational Efficiency
- Faster Expansion into New Markets
- Quick and Easy Deployment
- Increased Revenues and Growth
- Secure & Feature Rich
Estel’s Mobile Wallet / Mobile Money / e-wallet is a secure solution that enables banks, MNOs, Money Transfer and Payment Service Providers to tap millions of unbanked customers by allowing them to open virtual bank accounts (m-wallets) directly, or at authorized retail outlets (Banking Agents), move money between these accounts, and make payments for goods & services to merchants from their account.
Flexibility Mobile Wallet Solution:
Customer’s mobile wallet account can be a simple cash based account, or can be linked to customer’s bank accounts, credit/debit cards, other wallet accounts and other payment methods to enable universal mobile payments environment.
Multiple use cases can be applied for different types of users, such as consumers, merchants, agents, businesses & government.
The Estel Mobile Wallet (Mobile Money / e-wallet) solution also includes some innovative modules such as:
- Mobile payments
- Salary / Aid Disbursement
- Dealer to Corporate payments
- Mobile money transfer / Remittance
- Dynamic QR codes
- NFC/RFID based payments
Estel’s Mobile Banking Solution enables banks and financial institutions to offer customers anytime, anywhere access to their money and account using their mobile phone. Estel’s Mobile Banking Solution is secure and integrates with your bank’s Core Banking Solution thus enabling your customers to carry out banking transactions like checking account balance, transferring funds, paying utilities from account, make routine banking requests without ever visiting a branch, thus reducing overheads and freeing bank staff for more productive tasks.
Estel’s Mobile Banking Solution can be implemented as a standalone solution or together with the Estel Mobile Wallet Solution.
The customers using Mobile Banking also benefit immensely as they are empowered to:
- Get notifications and alerts related to their accounts
- Chequebook & Stop Payment requests
- Transfer funds between own accounts and to accounts of others
- Bill payments & prepaid recharge using funds in the bank account
- Withdrawal at ATMs without using debit cards
- Mobile payments to merchants – both online & offline
- Apply for loans and other service requests
- Any other service the banks want to enable
World Bank’s Migration and Development study reveals that global remittances will grow by 3.4% to $616 billion in 2018.The research also found a significant upsurge in international remittance activity in the past 2 years and forecasts an increase in international mobile money transfers including high value transactions.
Estel’s Mobile Remittance (online money transfer) solution is a secure, low cost and flexible remittance service that will enable your organisation to tap into a growing market.
With Estel’s Remittance (online money transfer) solution your customers can send money securely and instantly at any time, wherever they may be by using their wallet or account via their mobile phone.
Estel Mobile Remittance Platform enables remittances in various ways:
- Between mobile wallets
- To unregistered recipients, who collect the remittance in cash from an authorized agent or ATM
- Via an authorized agent, with the recipient collecting cash from an authorized agentor ATM
- Integration with international platforms like Western Union, World Remit etc thereby supporting agent assisted cross-border remittance. These Remittance Agents make instant commissions, and their operation is fully managed by a feature rich Agent Management Module