Today's customer wants banking on their smartphone that takes care of all their banking and payment needs without having to interact with Bank staff at branches or even phone. This global phenomemon of moving away from branch banking to mobile banking needs a digital banking platform that can deliver all the banking, payment products delivered anywhere anytime over mobile or web app.
Novopay's Digital Bank solution can onboard customers through a app download and online KYC in under 5 minutes. Banking products can be offered depending on the customer's CASA deposits as well as KYC being completed. Novopay offers various Onboarding and KYC flows to onboard new customers depending on the device, sophistication and preference of the customers.
Novopay's Digital Bank offers - Save, Borrow, Insure, Pay/Collect and manage personal finances all at the customer's fingertips - anytime, anywhere
Empower your Merchants and Consumers to collect using UPI QR, Payment link or Smart POS
Help your Customers to manage their cards and accounts as per their needs
Provide Earning and Spend insights to your customers across multiple financial instruments
Empower your customers to Pay from the convenience of their mobile phones and web browsers. Customers can make payments to a person, a Merchant or transfer money to another account. Customers can manage their beneficieries, pay to their contacts, repeat past payments in 1-click, store favorities to enjoy a seamless payment experience powered by Novopay's platform.
Merchant management module allows merchants to set up dynamic and static QR codes to collect monies from customers. Merchants can request on-demand settlement or can get settled as per settlement terms agreed with the acquirer. Merchants can view details of each merchant transaction and print receipts on demand.
Consumers can receive money from any UPI App as a P2P payment by generating a QR from the App. The platform is pre-integrated with multiple PGs for loading the account using UPI, Debit & Credit cards, Net Banking and wallets.
Support a fully digital Checking, Saving account with fixed deposit and recurring deposit products. UPI and other payment methods could be used to transfer funds into the savings accounts. We also provide pre-integrated offering for other saving instruments such as Gold and Mutual Funds.
Novopay empowers a fully paperless digital journey, from offers to disbursement and repayments.
Various lending products, can cater to the needs of a diverse customer base of a digital platform. Depending on the demographic, deposit and KYC levels of the customer, specific lending products are served up to the customer. Each lending product will front end a 100% digital LOS (loan origination system) experience including supporting various digital KYC and verification flows. Using the platform - Customers can be prequalified, served offers and serviced for disbursements in a straighthrough process, including digital loan agreement support.
Digital Banking solution comes pre-integrated with our Digital Lending platform.
Consumers can buy insurance products in few clicks from the Digital Banking solution. These products are offered through partnerships with insurance companies. The Digital Bank solution comes with API based pre-integration with partners in order to provide a seamless customer experience for various products such as 2-wheeler insurance, Hospitalisation cash, Doctor on Call , Loan Life Cover, and Personal Accident insurance products.
Often investment instruments such as Mutual Funds or SIPs are offered through partnerships with other financial institutions. The Digital Bank solution will offer these through API integration with partners in order to provide a seamless customer experience.
With the rapid growth of digital payments the card ecosystem while useful will also undergo a virtualisation. As a transition from a physical form factor of debit and credit cards, increasingly these cards will be virtualized inside the Digital Bank of the customer’s smartphone. Hence Novopay’s card support includes virtual and physical debit and credit card support. Transactions both online and offline are supported through virtual and physical cards.
Digital Banking solution allows customers a complete control on their cards and accounts - in terms of spend limits, offline vs online usage , international vs domestic, cash withdrawal limits etc.
Personal Finance Management is a key feature of the Novopay Digital Bank solution. The ability to get a birds-eye view of your personal finances on your smartphone is central and very attractive feature of the digital banking experience. The ability to take control of your spend, ability to save towards target purchases and see the return on investment all within the convenience of your smartphone is the way of the future.
Customers can be registered in a step-up fashion, beginning with simple details such as Name, DOB, Govt Id to seamlessly upgraded with full KYC details. Application comes integrated with the Digital onboarding service offering such as Aadhaar eKYC, Video KYC, KYC OCR capability, face biometric, liveliness check to quickly yet securely onboard customers on the platform. We support comprehensive customer life cycle management, including customer authentication, mobile number change workflows, workflow to update contact details as well as block/suspend/unsuspend/activate/de-activate customers for various reasons.
Novopay's Account, Card & Wallet management capability allows several types of store of values to be defined according to the KYC of the customer and according to the business needs. Differential limits and transaction rules, including allowed transactions and pricing can be defined. Wallet/Account lifecycle - such as activation, de-activation, suspension, blacklisting, tiering can be managed. Application supports multi-wallet structure to support wallet pockets, vouchers, coupons and other instruments. Example of different types of wallets that can be set up are Limited KYC wallets, Full KYC wallets, Merchant Wallet, Agency Wallet etc.
Novopay's functionally rich and robust Transaction Banking platform helps Banks to efficiently handle large volumes coupled with a seamless customer experience.
Novopay’s Transaction Banking Platform includes - P2P payments, Merchant Payments, Collections, Bill Payments, Money Transfers, Assisted payments. These services are delivered through mobile Apps, Web Apps, mPOS device and APIs.
Novopay suppports a BPMN engine based Product origination module along with a Low code framework to stitch together origination workflows. Novopay Digital On-boarding Solution comes with pre-built workflows for several standard use cases. Your workflow and details required for on- boarding customers could be different from usual. Novopay’s solution allows dynamic screens to be designed to rapidly do such customisations. Key features are: Instant A/c opening workflow,Loan Application workflow, Customer re-KYC workflow, Loan Lead generation workflow, Deposit opening workflow, Dynamic screen builder framework
Get real-time insights into Business outcomes, Customer experience & Technology metrics with Novopay's Transaction Analytics Dashboards. Slice and dice enormous data by geography, time-window, service or people to gain deeper insights. Novopay’s Transaction Analytics Dashboards are based on a state-of-the-art BI platform that can help you do what-if analysis on large amounts of transaction data to gain business insights. All this to lead to better decision making all the way from Executives to Staff on the ground
Next Generation Banking with Novopay Banking
