MBranch provides banks and financial institutions the opportunity to reach masses across the financial strata. MBranch's architecture encompasses a mobile device integrated with a biometric device, card reader and printer. It is backed by DataVision's impeccable record in managing integration and support services that will help financial institutions to add and service customers quickly.
MBranch will help a financial institution’s customers to perform financial transactions such as Cash Withdrawal, Cash Deposit, Balance Enquiry and Funds Transfer through a biometric and PIN/OTP based mechanism or regular cards provided for banking. Typically, Remote Teller (Mobile application and other hardware components) talks to the Core solution of any vendor through the Financial Switch. Remote Teller is flexible and can scale across 3rd party financial switches whilst interfacing through both Mobile and Short Messaging Service (SMS) adapters for online and offline transactions. The entire flow of communication is conducted via ISO8583 message formats. The solution supports both ON-US and OFF-US transactions.
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Compliance – MBranch is Micro ATM standards 1.5.1 compliant
Rich functionality – The application can function as a branch-less bank with functionally rich features
Transaction security – MBranch supports secure financial and non-financial transactions
The application supports secured biometric transactions as well as PIN based banking card transactions
3DES HSM based encryption and Identification for security
One way encrypted mobile number as part of SMS message to validate the originator
High Performance - The response time for a transaction is less than 5 seconds when data (Wi-Fi/3G) connectivity is available.
Scalability and flexibility
Portability and Low cost maintenance – The entire application and device is light
Interoperable across payment cards
Integration services – Quick and easy setup across Core applications
MBranch enables easy and convenient access to banking services for the unbanked rural population effectively
It limits avenues for siphoning of funds and corruption through a clear transaction flow supported through an audit trail.
The solution supports a wide range of payments such as peer to peer financial transaction, credit of pensions and subsidies provided by statutory bodies directly to the bank accounts of the beneficiaries.
MBranch is a cost-effective solution and has multi-language capabilities that supports a financial institutions financial inclusion objectives