Financial Inclusion Solution

Driven by the challenge of bringing financial services to the over 500 million unbanked households outside urban and peri-urban areas, SourceTrace offers robust, proven remote financial transaction software that utilizes mobile phones, point-of-sale devices and other wireless handsets over existing networks. SourceTrace has partnered with financial services organizations throughout Asia, Latin America and Africa to help banks fulfill financial inclusion laws and serve vast new markets — without the expense of opening new branches.

Benefits

With the SourceTrace ESE™ Financial Inclusion solution, organizations achieve:

  • Global visibility of operations
  • Greater transparency
  • Real-time business intelligence
  • Reduced operational costs
  • Increased internal controls
  • Better resource management
  • Increased capacity to grow

Modules overview

The SourceTrace ESE™ Financial Inclusion solution is designed specifically for the financial market and business processes. The core modules of ESE™ Financial Inclusion solution are:

ESE™ Remote for Financial Inclusion modules

  1. Customer Enrollment

The “Customer Enrollment” module enables your business to capture information directly on the field.

  • Provides a unified and up-to-date customer database
  • GPS technology and photos trace the location of the customer at enrollment time
  • Captures KYC data and fingerprint biometrics
  • SmartCard issuing on the field

2. Apply for Financial products

“Apply for financial products” module enables the efficient data capture for financial product request, such as micro loans, micro insurance, savings accounts and other products.

  • Capture data at the source and send it for back office processing
  • Receive customer request approval or denial on the field
  • Issue new financial products on the field

3. Deposit and Withdrawl

“Deposit and Withdrawal” module enables the remote Field Agent to securely receive and disburse money.

  • Securely identify the client using biometric authentication
  • Receive savings deposits
  • Allow th client to Withdraw money from his saving account
  • Printout account balance and mini-statements

4. Micro-loans and Micro-Insurance

“Micro Loan and Micro Insurance” module allows the clients to access special financial products for their needs. Field Agents can offer different kinds of micro insurance products as well as production micro loans.

  • Issue micro loans and micro insurance
  • Collect micro insurance premium payments
  • Collect micro loans repayments
  • Printout micro insurance policy
  • Printout micro loan payment schedule

5. Remittance and Payments

“Remittances and Payments” module is the perfect way to offer 3rd party services such as airtime recharge, bill collection, international money transfer, public services bill collection, tax collection among others.

  • Attract more clients by offering a bigger portfolio of transactions
  • Earn extra income by collecting 3rd party providers
  • Increase the client loyalty

6. Domestic Money Transfer

“Domestic Money transfer” module allows the clients to send money between other accounts and to unbanked persons

  • Transfer money between bank accounts
  • Send money to an unbanked person
  • Collect money while the mobile Field Agent is visiting the village
  • Collect the money at Business Correspondent store

ESE™ Server for Financial Inclusion modules

  1. Business and Reporting

Access to insightful business reports on a single client level or at a group, regional or global level of:

  • Client profile data and account status
  • Deposit and Withdrawal transactions
  • Micro Loans and Micro Insurance transactions
  • Account and other products approval and denial
  • 3rd party transaction processing
  • Commissions earned by Field Agent and Business Correspondent

2. Remote App management

Manage the ESE™ Remote application from a central location and publish updates over-the-air.

  • Reduce the operational and IT costs
  • Schedule updates based on your business requirements
  • Increase the service availability and reduce downtimes

3. Device and Field Management

Manage remote Agents and Device using a centralized Web application.

  • Create, enable and disable devices
  • Create, enable and disable Agents
  • Assign credentials and link Agents to mobile devices

4. Correspondent data management

Access to the Correspondent profile data and update the information using the Web application.

  • Create and update Correspondent profiles in the database
  • Keep up-to-date the information about all the correspondent
  • Visualize Correspondent location on a digital map

5. Executive Dashboard

The Executive Dashboard present real time information of key business indicators in graphical charts.

  • Understand the operations and compare it against previous and forecasted data
  • Visualise “Top ten” charts, including most busy Correspondents, volume and amount per Correspondent and other data views

6. Digital Mapping

Visualize georeferenced transactions and data to get a completely new view of the business.