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amdocs mobile financial services agent banking solution

agent banking highlights

Provides the physical backbone of mobile money

Digitizes and disburses cash versus ATMs, banks, etc.)

Responsible for more than 90.5% of cash-in and cash-out transactions

Global footprint - 3.2 million registered MFS agents globally of which 1.6 million were active (December 2015)

In 37 markets, the number of registered agents is 10 times more than the number of commercial bank branches

(Source: GSMA 2016)

Traditional banks are facing increasing competition and disruption by agile FinTech disruptors around the globe. Declining profit margins and customer churn in this evolving domain is compelling banks to consider a different, more nimble digital-based model to boost their business.

Establishing an agent banking network enables banks to extend their reach for onboarding new customers and retaining existing ones while providing the physical backbone and distribution network for mobile money that will allow them to both protect and grow their bank business.

why agent banking?

agent banking:

Banks have a hard time reaching customers. This is especially true in emerging markets and more in rural areas. Traditional bank branches in those regions are sparse, have high operational costs, and are not agile enough to meet new market needs that are part of the MFS evolution. The answer to this problem is setting up a network of banking agents who serve as the physical backbone of the mobile financial services network. Agent banking provides an ideal way to help banks and other MFS providers to expand financial services and improve customer service while retaining operational efficiencies.

Create, manage and sustain their agent network

Monitor and maintain a majority of active agents on the network

Manage the liquidity of their agents

Realize ROI for the agents and their MFS business

Educate their agents and enable them to educate their customers

the sustainable way for reaching new and retaining existing banking customers

Setting up and maintaining a solid profit-generating agent banking network is challenging because mobile financial services providers need to:

Increase sales from additional walk-ins

Differentiate themselves from competitors

Contribute to social-economic growth

Become known for their affiliation with well-known financial institutions

Realize additional revenue

Agents will

Enjoy lower transaction costs

Get better service and accessibility

Save travel time and expenses

Customers will

Expand their customer base and market share

Broaden their financial coverage

Realize increased revenue

Improve branch productivity indirectly by reducing congestion

Save on branch infrastructure and manpower costs

Banks will

the benefits we generate Amdocs Mobile Financial Services agent banking solution is a cloud-based solution that can be easily and efficiently deployed. It supports fast time-to-market and rapid onboarding of agents so service providers can continuously evolve the end user’s mobile wallet experience into one that is much more robust and engaging.

Specific benefits of Amdocs mobile financial services agent banking solution for key stakeholders include:

amdocs MFS agent banking solutionThe Amdocs Mobile Financial Services agent banking solution is a real time, multi-instance converged agent banking and service delivery solution that enables telecommunication providers and banks to enhance any existing core banking system and evolve it into a branchless banking solution offering the full MFS spectrum of capabilities to overcome the “reach barrier”. The solution is currently used to manage over 6 million MFS and telecom agents globally.

* via CBS integration

amdocs MFS agent banking

Flexible Segmentation &

Commission Model

Converged Access Channels &

E-KYC Support

Multi-Level Hierarchy

Public, private cloud /

On Premise support

Agent and merchant

Loyalty

Multi-Instance support

Center of Excellence

(COE) & Business Acceleration

(BAT) Offering

Supports Legacy banking

products*

Airtel is a unique retailer e-wallet solution for processing mobile payments across multiple lines of business such as prepaid top-ups, postpaid and Direct to Home (DTH) bill payments.

Some key figures:

Over 200 million subscribers

Over 1.4 million agents

State Bank of India’s MobiCash is a unique bank-telco partnership between India’s largest financial institute and the state-owned telco BSNL.

Some key figures:

Over 1.5 million BSNL agents

Over 250 million SBI bank accounts

Wave Money is an MFS joint venture between Telenor Myanmar and Yoma Bank, primarily focused on over-the-counter agent assisted services.

Main results during the first 2 months after launch include:

15K MFS agents

100K active users

About 500K monthly transactions

customer success stories

about amdocs Amdocs is a leading software & services provider to the world’s most successful communications and media companies. As our customers reinvent themselves, we enable their digital and network transformation through innovative solutions, intelligent operations and delivery expertise.

Amdocs and its 25,000 employees serve customers in over 85 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $3.7 billion in fiscal 2016. want to learn more?

Contact us today to get a personal demo of Amdocs Mobile Financial Services agent banking solution

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