Omnichannel Digital Banking Platform

The Omnichannel Digital Banking Platform by Modefin is a solution designed to provide seamless banking experiences across multiple channels. According to the vendor, this platform is tailored for banks and financial institutions of all sizes, catering to the needs of retail banking, corporate banking, small and medium enterprises (SMEs), financial services, and fintech companies. With its range of features and capabilities, this platform aims to be a valuable asset for professionals in the banking and finance industry.

Key Features

Mobile Banking: According to the vendor, this solution enables seamless banking experiences through various channels such as SMS banking, USSD banking, Android app, iOS app, and web app. Users can receive text notifications, access their accounts on mobile devices, and make contactless payments through QR code scanning. The platform also provides a digital version of the physical passbook and supports AI-based eKYC for digital onboarding.

Internet Banking: The vendor claims that this comprehensive internet banking solution allows customers to conveniently and securely access their accounts, view balances, make payments, and perform transactions online. Real-time notifications, fund transfers, e-statements, and transaction history are some of the features that aim to enhance the online banking experience.

Agent Banking: Designed for extending banking services to underserved communities, this branchless banking solution aims to enable agents to perform various transactions on behalf of customers. Cash deposits, withdrawals, fund transfers, and bill payments can be easily processed through a user-friendly agent interface. Real-time transaction updates, customer onboarding, and secure authentication aim to ensure efficient and secure banking services.

Digital Onboarding: According to the vendor, this AI-based solution aims to simplify customer enrollment and identity verification processes. Customers can open accounts remotely using digital documents and biometric data, while the platform performs real-time identity verification and risk assessment. Compliance with regulatory requirements, a secure data protection platform, and seamless integration with existing banking systems aim to make digital onboarding a streamlined and secure process.

Mobile Wallet: The vendor states that the mobile wallet solution offers customers a convenient and secure way to manage their payment cards and accounts in one place. With support for contactless payments through NFC technology, customers can make payments at physical stores, online merchants, and perform peer-to-peer transfers. Real-time notifications, transaction history, and loyalty program integration aim to enhance the overall payment experience.

Chatbot/Conversational Banking: Powered by AI, this chatbot solution aims to provide personalized and interactive banking experiences. Customers can receive instant responses to their queries, perform various banking tasks such as balance checks and fund transfers, and receive personalized product recommendations and financial advice. Integration with existing banking systems aims to ensure seamless data access and transaction processing.

Digital Lending: According to the vendor, this digital lending solution aims to streamline the loan origination and processing processes. Customers can apply for loans online, submit digital documents, and receive real-time loan approval and disbursement. Integration with existing banking systems aims to enable efficient loan management while ensuring compliance with regulatory requirements and data security.

Group Savings and Lending: Designed for community-based financial services, this solution aims to enable customers to form savings groups and pool funds. The platform offers tools for managing group contributions, loans, and repayments, along with support for interest calculations, penalty fees, and loan terms. Transparent and accountable group financial activities are facilitated through group financial reports and statements.