News

Nexxo's Desktop Money Station to 'transform underbanked delivery'

July 17, 2012

Nexxo Financial Corp., a self-serve financial solutions provider, will soon launch its Desktop Money Station, offering another way to service the underbanked market, Craig McDonald, SVP sales & business development, Nexxo Financial Corp., said in a company press release.

The Desktop Money Station, which runs on Nexxo's Everyday Financial Services platform, plugs in to a point-of-service terminal or kiosk wherever agents or tellers assist consumers over the counter.

"Financial service providers see reduced training costs because representatives don't need to learn how multiple terminals and screens function; they simply interact with one Nexxo screen for all transactions," McDonald said. "Providers also see fewer keying errors since the customer-centric EFS platform identifies return customers and remembers their preferences and transfer history. And, most importantly, since financial service providers don't need to patch together a complete suite of services from multiple vendors, it shortens their time-to-market."

He also said the platform enables providers to enhance their services for both the underbanked and existing customers.

"Our turnkey solution is complete with automated compliance checking and fraud management," he said.

Nexxo's EFS Platform offers providers another boon, McDonald said, whether they choose self-serve kiosk, assisted desktop or soon-to-launch mobile options. That benefit is its ability to capture customers' transaction history. When customers cash checks, buy money orders, load prepaid cards, pay bills, send money, top up phone minutes or withdraw cash using Nexxo, their data is saved. With this data, banks, credit unions and retailers can get a rare and valuable look at their customers' habits, the company said.

"Financial service providers tell us this portfolio view is powerful," McDonald said. "For the first time, they can build relationships by offering targeted products and discounts. For example, if a customer regularly cashes their paycheck but hasn't yet tried other services, the provider can offer reduced fees for bill paying."

Read more about banking kiosks.