If you’re already looking at or are considering launching financial services to your customers, then now is the time to talk to Neoaccount. With Neoaccount we can deliver a proven current account solution to provide a simple ewallets, virtual business accounts or a more complex branchless banking solution for your customers, without the expense of becoming a bank.
What do we do?
Neoaccounts provides its clients with the software and support needed to launch their own online cash account service:
- Under their own brand
- Without the cost of developing and operating the service
- Payments Gateway Integrated with 30 payment partners providing over 200 pay-in and pay-out methods
- Provided with a standard API for easy integration with new payment options
- Linked to a MasterCard or Visa debit card
- Available on a PC or Mobile phone
- In just 20 days
Neoaccount gives you;
- Speed to Market
- Diversification of your revenue
- Extend your business model
- Create customer loyalty
Using the existing financial infrastructure Neoaccount allows brands and alternative financial institutions to deliver branchless banking to your customers.
More than just a wallet
Neoaccount is far more than an e-wallet. At the heart of the platform is a parameter driven account management system that has been designed and built to be accurate, flexible and secure.
Clients can design and offer any number of account types to meet their customers’ needs including products based on customers’ risk profiles, transaction preferences, desired currencies and channel of choice.
Unlike wallets, the link between a user and an account is assigned not hard coded. This means that users can have access to the same account but with different privileges. Clients can also specify multi-level (or hierarchical) accounts. Which enables you to set the relationship between the Master account and sub-accounts; to control how much customers using the sub-accounts are allowed to spend, what sorts of payments they can make, what type of permissions they require and how information is consolidated and reported.
Neoaccount also allows clients to create a merchant within the system, allocate the merchant a billing code and then allow the merchant to create invoices to send to specific users acting like a bill payment engine. This can be done on an ad hoc basis or for recurring bills.
Designed to be Flexible
The Neoaccount platform has two main parts:
- Neoaccount TXfunds handles all the customer related functions including customer registration, account configuration, “on-platform” transactions and fees.
- Neoaccount TXpayments handles all the “off-platform” transactions including the interfaces to payment partners, gateways and other banking systems
This separation of duties – coupled with a standard API for off-platform transactions — makes it much easier to add new payment types and services without affecting customers.
Designed to be Accurate
Financially, Neoaccount operates as a double entry accounting system that self-reconciles in real time. This makes it easier for the client to reconcile the system’s ledger accounts to their bank accounts and helps reduce back office reconciliation work, losses from errors, fines and omissions.
Designed to be Secure
The Neoaccount platform is written in PHP with enhanced system level security and runs on CentOS. An alpha-numeric secure key is used to verify the customer’s identity at login and to authorize transactions. In addition, a numerical master key is input before a customer can change their personal information. Optional security routines include:
- Captcha on both the registration and login pages
- Velocity checks, and
- The ability to lock an account to suspend transactions or change personal information unless the browser comes from a specific IP address.
Customer Life Cycle & KYC Management
Client registration is a critical part of the customer life cycle. Neoaccount supports bulk and discrete customer registration using a username, email address and mobile phone number (provided the handset has a valid phone number that can receive SMS messages). Once registered, customers can use either established third party electronic data or where there is no coverage use the Neoaccount KYC module to upload identification documents for review and storage by the client’s compliance team. The platform also supports on-going communication via e-mail, push sms messaging (to support mobile phone registration, transaction alerts etc) and web chat.
By using the Neoaccount solution our clients can enter the financial services market quickly and with the minimum of expense whilst still having control of their chosen business model. We give you the chance to choose what you offer, you control:
- Branding / look & feel
- Customer support
- Back office
Client can tailor service & pricing proposition to meet its business needs;
- Client segment (i.e who & what)
- Business objective (what & how much)
- Channel (what & where)
- Preferred partners
You manage your business; we manage the “mechanics”
- Neoaccount PROVIDES
- Core Platform
- NeoTXfunds – customer account interface
- NeoTXprocessing – manages transactions and payment logic
- NeoKYC – rules based risk system to manage and upload KYC
- NeoInvoicing = allows Merchants to issue and manage payment invoices
- NeoCredit Card Gateway – manages Credit card integration, logic and transaction
- Platform development
- Platform hosting & maintenance
- 3rd Party services where required
- Outsourced operational services where required
Clients can use the Neoaccount platform;
- On a SaaS basis, with a minimal set-up fee and tiered transaction pricing
- On a managed service basis, with the software supported by Neoaccountstaff but hosted at a client location.
- By purchasing a license, paying annual maintenance and development fees and running the software on their own infrastructure
We will tailor the commercial offering to meet your specific needs. For instance, it may make sense for a client to start with a SaaS offering and move to a licensed based implementation over time.
Clients providing online payment services within the EU must comply with PSP Directive that regulates the issuance of e-Money. For clients that wish to work under the license of an established e-money issuer Neoaccount is pleased to offer an outsourced service through its e-money issuance partner (subject to approval).
Neoaccount Premium comes with two additional modules not supported in the standard platform:
- NeoMobile – Allowing your customers to access their accounts via smart and 2G phones
- NeoCard – We are happy to work either as a program manager or in conjunction with an existing program. The NeoCard module manages both card activation and on-going card operations.