AGENT NETWORK BASED BRANCHLESS BANKING

Digital Distribution

Novopay's Digital Distribution suite of products provide banks with the ability to rapidly create a variety of products, and onboard channel partners who can distribute them at scale. Novopay's branchless banking platform creates an low-cost digital distribution channel through a BC (Banking Correspondent) or Agent network to deliver all your digital products - be it banking, payments, insurance or cash management.

Novopay's own BC network with its 140k retail points of presence, can complement your agent network to give you retail access in 29 states in India.

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Novopay's digital distribution platform & its modules

CASA, RD, FD

Distribute traditional liability products, through a network of channel partners

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Cards

Distribute Prepaid and Credit Cards through a network of channel partners

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Loans

Generate leads, Disburse loans and collect repayment of loan products through a network of channel partners

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Insurance

Distribute an array of personalized insurance products through a network of channel partners

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Investments

Ramp up subscription to your investment products through a network of channel partners

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AePS

Offer withdrawal services to consumers through a network of channel partners

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DMT

Offer remittance services to consumers through a network of channel partners

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CMS

Facilitate cash collection at scale, for your customers through a network of channel partners

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Recharges & Bill Payments

Offer BBPS services to consumers through a network of channel partners

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Download the Digital Transformation Solutions brochure for Banks, NBFCs and Fintechs.

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Products

A person depositing money to a piggy bank.

CASA, RD, FD

Banks have offered traditional liability products through bank branches, given the stringent KYC regulations around such products. However, with Novopay's technology, banks in partnership with the Channel Partners can:

  • Generate leads
  • Do full KYC, compliant with the regulatory landscape
  • Onboard the Customer instantly
  • Activate the account instantly
Novopay's app with debit/credit card.

Cards

Novopay's distribution suite enables banks to ramp up their Card portfolio (Prepaid Cards, Credit Cards, and Debit Cards), by partnering with channel partners to distribute the products. Novopay's suite provides Banks the ability to:

  • Create different flavours of the same product to suit various micro segments
  • Generate leads through a network of channel partners
  • Onboard and Activate the cards instantly, fully compliant with the regulatory KYC requirements
An individual taking loan to purchase a TV.

Loans

Access to Credit is an integral part of the Financial Inclusion revolution that is happening around the world. Banks are increasingly called upon to distribute loans in a distributed geography, and also collect the repayments in an efficient manner. Novopay's solution suite enables Banks and NBFCs to to:

  • Rapidly integrate with Channel Partners for Loan Origination, with minimal integration
  • Generate leads for various loan products, through Channel Partners
  • Do a Credit Evaluation of the prospect, including physical verification, through a network of Credit Officers
  • Process and Disburse the loan, with best-in-industry TAT
  • Collect the Repayments, in a safe and efficient manner
An individual buying insurance.

Insurance

With increase in digitization, one of the big industries that is expeted to be disrupted in Insurance. Insurance products in the years to come, will be increasingly personalized, sold contextually and through non-traditional channel partners.

  • Rapidly integrate with Insurance Manufacturers
  • Generate leads, and sell a variety of insurance products of varying ticket sizes
  • Manage incentives and payouts to your channel partners
Invest your money for growth.

Investments

With the penentration of the mobile phone, consumers are increasingly willing to make investments more frequently, and at a smaller ticket size. This makes traditional investment product distribution (ex: Mutual Funds) too expensive to operate. Novopay offers a solution suite which:

  • Rapidly integrates with investment product manufacturers
  • Generate leads
  • Do KYC, compliant with the regulatory landscape
  • Collect the payment in cash/ other forms of payments, through a distributed retail network
  • Onboard the Customer, and Activate the account instantly
Money transfer through aeps.

Aadhaar Enabled Payment System (AePS)

India being largely a cash based economy, access to cash is very important for a large segment of the country. Aadhaar enabled Payment Services (AePS) and Micro ATMs enable consumers to withdraw cash from Retailers, using their Biometric information, and Debit Card respectively.  Novopay's digital distribution platform enables you to offer these products by:

  • Faster GTM by riding on Novopay's integration with partner Banks. Alterntiavely, new partner banks can be quickly onboarded
  • Manage a large network of Retailers and Distributors - From onboarding, to daily settlements, to incentive payouts
  • In-built fraud monitoring mechanism to detect and prevent frauds
Working of Direct money transfer

DMT

With increasing urbanization, more and more consumers are migrating to urban areas and remitting money to their families in remote parts of the country. Novopay's solution suite provides you with a solution to cater to the needs of these consumers, by:

  • Faster GTM by riding on Novopay's integration with partner Banks. Alterntiavely, new partner banks can be quickly onboarded
  • Manage a large network of Retailers and Distributors - From onboarding, to cash load, to incentive payouts
  • In-built fraud monitoring mechanism to detect and prevent frauds
A collection agent carrying cash to deposit to a retailer

CMS

Given that India is still largely a cash based economy, there are many businesses that handle large volumes of cash everyday in their business. This poses a challenge for many businesses, as their employees will have to travel large distances carrying physical cash. Novopay's solution suite provides you with a solution to cater to the needs of these businesses by offering a Cash Management Solution, where-in:

  • Rapidly integrate with Businesses seeking the CMS solution
  • Enable businesses to deposit cash at Retail outlets around the country
  • Manage a large network of Retailers and Distributors - From onboarding, to cash load, to incentive payouts
  • In-built fraud monitoring mechanism to detect and prevent frauds
Mobile phone showing mobile & bill payments

Recharges & Bill Payments

One of the major public infrastructure that has been built in India is Bharat Bill Pay Services (BBPS), which provides a common platform for all billers to be aggregated on. Novopay solution suite enables you to ride on that network, by enabling your channel partners with the ability to collect payments towards bill payments, on BBPS

Modules

Retailer & Distributor Mobile & Web App

Retailer & Distributor Mobile & Web App

• Easy to use Android App, and Web portal for Channel partners
• Chatbot to resolve issues real-time
• Access to all key reports
• Single window for all complaint/ query resolution
• Easy to navigate screens

Ops Web Portal

Ops Web Portal

• Single View for all major workflows
• Access to all key Ops reports
• Easy to monitor and flag any system issues
• Access Control view for all screens

BC Management Portal

BC Management

• Onboard and manage multiple BC Partners
• Setup and Configure Hierarcy, and unique workflows
• Customized logo/ UI

Transaction Management Portal

Transaction Management

• Monitor all key transactions in one place
• Easy to identify issues with any transaction

Field Force management portal

Fieldforce Management

• Geotracking of field force
• Attendance tracking
• Monitor TAT for key tasks
• Monitor planned v/s actuals, on key tasks
• One view dashboard towards performance of the field force

Pricing & Promotions Portal

Pricing & Promotions

• Configure payouts and incentives, for different types of channel partners
• Access all reports

Testimonials

Novopay's Digital Platform has been an integral partner in RBL Bank's growth journey. Their state-of-the-art technology provides a seamless user experience while ensuring complete security.
Devika Garg
Head - Liabilities and New Economy, Wholesale Banking