BLB Agent-Based Model
BLB has initiated the Agent-Based BLB model, which offers a distinct alternative to conventional branch-based banking by empowering a third party as a bank agent to reach the bank in remotely un-banked customer. Bank recruits the third party agent that meets the minimum requirements for agent. The agent would be locally known individual, form or registered agency. The agents are allowed basic banking services including payment for education grant through the provided electronic devices, popularly known as Electronic Fund Transfer Point of Sale (EFTPOS). It has following important components.
Bank Agent is an authorized bank representative and locally permanent resident person/agency chosen for BLB operation with the responsibilities as:
- Liable to do bank operations (deposit, withdraw, utility payment, pension or other allowance distribution) under the banks rules and regulations including grant payment
- Liable to customer service
- Liable for marketing of bank other products
- Agent will be classified in three classes as A, B and C based on the location, physical security including cash security, agent security, customer security standards, transaction limit and transaction volume of that location
Bank will have to select the agent for BLB Pay-Points. Bank formulate some criteria to be an agent as below
- Permanent Resident of BLB site
- Agent site should be located out of municipality or metro city
- Any business or service running on the site since at least 5 years
- Trusted physical security
- Ensure of availability of customer service through out the banking hours
- Agent qualification (Education: At least SLC, Experience in trading or financial operations is plus)
- Never involved in any socially disallowed activities
- Approval of limit from agent
BLB Customers are those customers which are targeted to use bankís BLB service or grant recipients for this project period.
Electronic Fund Transfer Point of Sale (EFTPOS) Machine will be with agent in Pay-Point which is the basic tools to carry on BLB services. This is a specifically designed device for agent based BLB services. The machine has the following characteristics.
BLB System Software
- Card Based Device (Support debit card which will be provided to the customers/recipients by bank)
- Support for Fingerprint Authentication
- Support Redundant Power Sources for continuous operation
- Mobile and easy to carry
- Voice Guidance in Nepali Language
- Support for multiple communication Channels
- Device can store minimal data
- Ability to support multiple products and services
- Automatic Receipt printing
There is BLB system software with role of bridging EFTPOS machine and Bankís Core Banking System in real time basis. BLB software has extensive features as indicated below beyond the Bankís Core Banking System.
- Defining Agents, Customer and Users
- Assigning customer limit amount per day, per week and per month
- Assigning agent limit amount per day, per week and per month
- Limit on transaction count for customer as well as agent per day, per week and per month
- Managing and authenticate EFTPOS devices
- Support the multiple branches, agents, customers and users
- Support multilevel agent (Agent with limit variations)
- Support agent restriction to allow the transaction to all branches or to corresponding branch only
- Multi-level authentication to create users, agents, EFTPOS and customers and defining or managing theirs roles
- Manage biometric images
- System supports security standards like Standard for Financial Transaction Card Originated Messages, Cyber / Information Security Standards etc.
- A robust MIS system to monitor all the activities centrally
- Customized reporting system as per requirements
EFTPOS machine are connected via a GSM or CDMA, which one is available on the location, to BLB server.
Bank will provide the Debit Card for each registered BLB costumer, which required to withdral money from RBB BLB Point. The card contains the information of Recipientís account number, name and ID. But pin-code will not be provided to the recipient for the security proposes of recipient cash. If the recipient wants to use the same card in ATM counter, they have to request to bank for pin-code.