Traditional delivery of “Everyday Financial Services” (EFS) is transactional rather than customer centric, and is costly, involving a conglomeration of disjointed services, each requiring their own systems, training, partnerships, vendor management, oversight, practices, and compliance policies.
Even though they have evolved, the delivery of everyday financial services is too often treated as a collection of SKUs. Retailers and banks struggle with servicing their customers the right way. They need a 360 degree, cost effective, and convenient solution to properly serve their customers’ needs. Consumers need a customer-centric solution that offers products that fit their everyday financial needs, an integrated solution of all services and not just a few. These products and services are highly correlated and if provided in an integrated fashion tied to a unified customer profile, can provide predictive insight into customer behavior. Simply delivering transactions in a service silo as is convention today does not provide this insight.
Nexxo’s EFS Platform delivers check cashing, money transfer, bill pay, money orders, pre-paid card servicing, and phone top-ups — ALL of the everyday financial services needed by underbanked consumers in a turn-key, managed platform.