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Agency Banking

~ Future of Branchless Bank!

The world is shifting its focus from traditional brick and mortar structures to “branchless” banking with mobile banking now becoming the new frontier for product innovation and channel delivery.

Agent Banking delivers banking to door-step of the marginalized and unbanked customers, who, for many years have not been able to travel long distances to do banking.

Main Objective of Agent Banking are:

  • To fulfill the constitutional rights of the unbanked masses who are also entitled to access to financial services
  • To leverage distribution channels and make the Bank more accessible to its customers
  • To provide low cost banking services to the poor who cannot afford to travel long distances to carry out banking transactions .

Estel ‘s innovative Agency Banking solution enables Bank to go Branchless & increase reach & accessibility & reduce Capex Costs. This technology is expected to revolutionize Branchless Banking & usage in developing economies.

Estel ‘s innovative cardless Agency Banking solution enables Banks to go Branchless & increase reach & accessibility & reduce Capex Cost. This technology is expected to revolutionize Branchless Banking & usage in developing economies.

How it works?

  • Bank ‘trusted’ Agent is appointed ‘ Banking Agent’, equipped with Mobile & POS system
  • Agent helps Customer to open Bank Account at their door Step by collecting the necessary KYC documents as per regulations so that Customer can utilize banking services without going to a Branch
  • Customers can easily use authorized Agents to avail Services of Cash in, Cash out, Domestic Money Transfer securely through SMS or OTP
  • Agency Banking enhances the abilities of Banks to acquire more Customers, and serve existing customers better & with lower costs, thereby contributing positively & directly to a Bank’s Balance sheet

Supported Use cases:

  • Account Opening
  • Cash Deposit
  • Cash Withdrawal
  • Balance Check
  • Mini Statement
  • Prepaid Recharge
  • Bill Payments

Estel Micro ATM is an innovative, mobile based ultra-low cost ATM, which is operated in agent assisted mode. The solution enables banks to appoint and manage agents, who function as ‘Human ATMs’, to provide following services to bank customers, on their ATM/Debit card:

  • Cash Deposit
  • Cash Withdrawal (cash out from bank account)
  • Balance Check
  • Mini Statement
  • Prepaid Recharge
  • Bill Payments