Youtap’s solution lets banks partner with agents (such as retail shops and post offices) to offer banking services in more locations. These agents are trained and authorized to perform transactions on behalf of the bank, making banking services more accessible and increasing financial inclusion.
Features and Benefits of Youtap's Agency Banking Solution:
Providing banking services through a network of agents, who may be retail shops, post offices, or other businesses
Allowing customers to access banking services in locations that may not have a physical bank branch
Agents are trained and authorized to perform certain banking transactions on behalf of the financial institution.
For Payment Processors, the solution provides clearing and settlement, merchant onboarding, and risk management.
The solution includes multi-currency support, tokenization, and encryption (PCI-DSS) for enhanced security. It supports multiple payment methods such as credit/debit cards, e-wallets, bank transfers, and other payment options.
Increased access to banking services: Agency banking can make banking services more accessible to those who may not have been able to use them before, such as people living in remote or underserved areas.
Convenience: Agency banking can make it more convenient for customers to access banking services, as they can do so at locations that are more accessible to them.
Increased financial inclusion: Agency banking can help to increase financial inclusion by providing banking services to those who may not have been able to use them before.
Cost savings: Agency banking can be more cost-effective for banks as it can reduce the need for physical branches and increase the number of customers.
Revenue opportunities for agents : the agents can earn additional revenue from the services they provide to the customers.
Merchant applications
Integrated applications for Android Point of Sale terminals, mobile and tablet devices, enable merchants to register as an Agent, download the applications and either self on-board or have the application pushed to their device once approved by the bank.
Cash management
Integrated cash managment applications for Android Point of Sale terminals, mobile and tablet devices enable merchants to register as agents, download the applications and either self on-board or have the application pushed to their device once approved by the bank.
Account opening
Agents can perform account opening for new customers, including e-KYC and customer onboarding. e-KYC thresholds continue to be managed by the bank.
Loan repayment and management
Agents can receive loan repayments. Agents can also process microloans and micro-insurance products on behalf of the Bank.
Remittances
Agents can provide remittance services, including send and receive wallet services for the Bank. Customers can send or receive money through their wallets, including cash in and cash out processing.
Data & analytics
Banks receive a wide range of reporting and analytics on merchants, customers and transactions processed.
Bill payments
Merchant can perform the function of processing bill payments on behalf of the customer. Banks can manage bill payees through an online portal.
Airtime top-up
Merchants can process air-time top-up on behalf of consumers. Back-end integration to mobile operators is through the One-Core documented APIs.
Statements
Merchants can provide customers with mini statements; these can be printed via POS or through a third-party printer.
Cloud-deployed
APIs for 3rd party integration
Highly scalable
Real-time 24 x 7 processing
Highly secure
Multiple applications in a single platform
Rich data, new insights
Your offering, your brand
Scalable and ready to deploy
Device-independent
Management portals
Omni-channel architecture
Youtap Insights
Insights that drive digital transformation
Youtap
21 January, 2025
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One digital financial services platform, multiple white-label solutions deployed in the cloud, with applications for consumer banking, business banking, digital wallet, payments and retail point of sale.
