Overview
BEAMS
is an all-in-one online banking solution built for retail and MSME clients. It is fully online, accessed via web and mobile app. It provides a simple, intuitive user experience and offers financial services that are best suited for retail and MSME clients.
Its main objective is to eliminate the pain points that customers experience such as:
1.Invoice & Billing -Sending invoices and billing statements to the MSME’s customers manually.
2.Reconciled Payments -Reconciling payments of the MSME’s customers who paid through various means.
3.Accounting -Doing basic accounting tasks such as tracking income and Expense.
4.Travelling to the Bank- Going to the branch to open an account, apply for a loan, pay bills, send money.
5.Pay Taxes- Pay taxes and government contributions manually.
6.Pay Employees - Pay employees of the MSME using cash.
One App, Two Market Segments
With Beams, the bank is able to address the financial needs of two market segments
1.Retail
2.MSME
While only one app is needed to address both segments, the services provided for each user is distinct, based on the segment that the user belongs to.
Key Features
BEAMS Services at a Glance
1.Online Enrollment
2.Account Portfolio
3.Statement of Account (SOA)
4.Government Payments
5.Transaction History
6.Bills Payment Transactions via QR Code
7.Transfer to Other Local Banks (via Instapay & Pesonet)
8.Checkbook Reorder
9.Request Money
10.Stop Payment Order
11.Apply for a New Product (e.g. credit card, loan, insurance)
12.Transfer to Same Bank
Services for Business Needs
1.Payroll
2.Billing Statement Generation and Payment
3.Payment Link
4.Transaction History
5.Business Financing
Key Benefits
Other Features
1.Diverse Payment Options - Accepts online payments, including wallets and credit cards
2.Subscription Fee - Option for the bank to charge the end users with a subscription fee
3.Transaction Fees - Fully Parameterized transaction fees that are maintainable by the bank
4.Bills Payment - Supports over 600 merchants nationwide through ECPay
5.Managed Services - Managed Services provided by Telly Systems, Inc. Option for the bank to outsource the management and maintenance of the platform, including the cloud infrastructure
6.API First - Built on a microservice / API-ready framework
7.Support - First line of support to the end user via chat and email
8.Cloud-ready - Cloud-ready from end to end.