Scale Up the Business with Branchless Banking Through an Agent Network
TrustBankCBS Agency Banking Solution enables branchless banking services for BFSI. This solution supports business growth and expands the customer base without the need for physical branches or costly ATM networks. It facilitates personalized banking through an agent network, offering door-step services and enhancing customer acquisition.
The Agency Banking solution is an Android app that can be easily installed on an agent’s smartphone. It features OTP-based authentication linked to the agent’s registered mobile number and the smartphone’s IMEI number.
Transactions conducted by on-field agents are reflected in real-time within the CBS. Customers receive real-time SMS alerts for deposits made during on-field transactions, which ensures transparency and builds confidence. BFSI institutions can centrally set and control agents’ daily collection limits and transaction amount limits.
Agency Banking offers a comprehensive range of features, including:
- Customer Registration
- Account Opening
- Withdrawals
- Agent-Customer Grouping and Daily Collection Demand per Agent
- Reports on Customer Registration and Account Openings
- Complete Solution for Agent Commission Setup and Computation
- Agent Ledger and Transaction Reports
- Balance Checks and Mini Statements
- Collections
- Overdrafts Against Term Deposits
- Setting Up Agent Control Accounts with Transaction and Daily Balance Limits
- Cash In and Cash Out for Multiple Account Types
- Service for Customers of All Agents and Branches
The key features that enable BFSI to maximize the benefits of the Agency Banking solution include:
- Android Mobile App compatible with the latest Android OS and smartphones
- Integration with other TrustBankCBS functionalities and modules
- Pre-configured scenarios and best industry practices in implementation
- Configurable and scalable solutions
- Online system with real-time posting and monitoring of on-field operations
- Access to real-time account ledgers and balances
- 24/7 field operations with value date-based transactions after branch end-of-day
- Availability of reconciliation tools and reporting
- Easy-to-use, simple GUI with a secure solution
- SMS-based transaction alerts and integration with Bluetooth printers for receipt printing
TrustBankCBS Agency Banking enables banks to expand their operations into unbanked areas without CAPEX expenditure. The solution automates on-field agent operations with appropriate checks and safeguards according to organizational policies. As a real-time solution, TrustBankCBS delivers the following benefits to BFSI:
- Paperless and Automated Workflow
- 360-degree View of Field Agent Operations and Transactions
- Management and Growth of Agent Network
- Reduction in Operational Costs and Performance-Based Commission for Agents
- Elimination of the Need for Expensive Branch Infrastructure and Mechanized Delivery Channels
- Increased Customer Convenience, Satisfaction, and Retention
- Enhanced Financial Inclusion and Reach to Unbanked Demographics and Geographies
- Elimination of Duplicate Work and Increased Operational Efficiency
- Business Growth, Improved Liquidity, and Increased Profitability
- Better Control and Decision Support for Management
