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Nexxo Financial Corporation's Desktop Money Station Set to Transform Underbanked Delivery


July 17, 2012 - Burlingame, CA

With the only industry kiosks offering a full suite of alternative financial services from one user-friendly screen, Nexxo Financial Corporation has been hotly pursued in the past year by banks, credit unions, and retailers. And with the soon-available Desktop Money Station, it is offering providers even more ways to service the underbanked market.

"We've been testing our fully functioning Desktop Money Station and receiving fantastic feedback. Light bulbs are going on as people see how Nexxo's technology breaks the old mold and treats the underbanked as customers rather than as transactions," said Craig McDonald, SVP Sales & Business Development, Nexxo Financial Corporation.

The Desktop Money Station, which runs on Nexxo's Everyday Financial Services (EFS) platform, simply plugs in to a Point-of-Service terminal wherever agents or tellers assist consumers over the counter. Among the multiple benefits Desktop offers, 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. 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.

"The Desktop Money Station quickly enables providers to enhance their services for both the underbanked and existing customers. Our turn-key solution is complete with automated compliance checking and fraud management," notes McDonald, who expects to see general Desktop availability in Q3, with deployment in Q4.

Nexxo's EFS Platform offers providers another boon whether they choose Self-Serve kiosk, assisted Desktop, or soon-to-launch Mobile. 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, and withdraw cash using Nexxo, their data is saved. With this data, banks, credit unions, and retailers get a rare and valuable look at their customers' habits.

"Financial service providers tell us this portfolio view is powerful," observes McDonald. "For the first time, they can build relationships by offering targeted products and discounts," said McDonald. "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."

Being able to reap data and customize it for a previously unreachable market segment is one of the reasons attendees at June's 7th Annual Underbanked Financial Services Forum were queuing up at Nexxo's booth. They saw how its technology is leading the transformation of the financial services industry. The result is a long line of financial institutions and retailers wanting Nexxo's Desktop Money Station application.

About Nexxo
Founded in 2003, Nexxo is the leader in self-serve financial solutions. Its Everyday Financial Services Platform (EFS) offers a unified, customer-centric solution that seamlessly handles multiple products (check cashing, money transfer, bill pay, money orders, prepaid card servicing, and phone minute top-ups) and multiple channels (self-serve kiosk, teller-assisted desktop, and via mobile phone). With more than four million transactions and $1 billion processed, Nexxo's technology has been proven at hundreds of field locations. Nexxo offers its turn-key financial solutions and service applications to an expanding network of retail partners, domestic and international banks, and financial service providers. For more information, visit nexxofinancial.com.

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