Mobile money solutions customer onboarding

Mobile Money solutions are typically a success: allowing all kinds of transactions and operations from a mobile device, anytime, anywhere, is amazing. The “little big” problem is that they are implemented on the assumption that the customer onboarding was done correctly, which in many cases is not true. Getting it right in the early stage of the process makes all the difference in terms of accuracy, security, and compliance, leveraging cross-selling and upselling opportunities, to make the most of what Mobile Money’s ecosystem has to offer.

So how can customer onboarding leverage Mobile Money solutions?

First, there are huge problems associated with the current, traditional and paper-based client/vendor/agent registration model that need to be addressed:

  1. Sales Compliance – regulators around the world issue a series of directives that must be considered while acquiring a customer. If a sale is not compliant with the existing regulatory framework, you’ll have to cancel it, you may receive a significant penalty and ultimately your license can be suspended or revoked. Moreover, the context is also relevant. If it’s difficult to ensure regulation compliance in a physical agency, the situation gets worst when we are talking about field (freelancer) agents, as they are usually focused on selling and receiving their commissions, with little adherence to regulatory requirements in the process.
  1. Remote Teams Management – according to the latest available data from GSMA, there are 2.5 million sellers of Mobile Money services (more than ATMs!). As freelancers, their management and control have become too difficult. In the traditional model, they go to a store, fill out a paper form to register as field vendors, start selling, and receive the commission when the service is activated. That’s when it can start to go wrong, as there is plenty of room for negligent or uncompliant behavior, but also for fraud. Logistically, it is impossible to ensure that all forms are filled out correctly, that the information provided is correct and that the correct documents are included, in addition to ensuring that whoever is selling this type of service can actually sell it. Another problem is that we do not know where sales are made, for marketing/forecast purposes, resulting in poor or inefficient team field management.
  1. Frauds Management – there are rules that must be ensured (signatures, identification cards…), and problems can go from unintentional errors (lack of training/knowledge) to deliberate frauds by street agents or customers. In a traditional and paper-based model, it’s not easy to control or audit such situations.
  1. Leverage on Customer Information for Upselling – customers usually register to have access to the most basic service in the value chain (small payments and transfers), but then the goal is to increasingly upgrade to other services (deposits, credits, national and international transfers, loans and other financial services, insurance…). If the KYC (Know your Customer) process is not done properly in the first stage, it will restrict or disable the capability of accessing these additional services (with enhanced compliance rules), without going through a full new registration process.
  1. Personal Data Management – with the traditional approach there is no control over documents and paper forms (they are initially collected and stored by street agents, and customer personal data can easily be lost or stolen). Then when they arrive at companies (both paper and digital) they are kept together and are more permissive to hacking attacks and improper uses. Personal data management is not segregated or classified (what is personal information and what is relevant for managing day-to-day processes – different retention periods). Problems around this topic will grow because from January 2017 all Europeans that give personal information to buy products/services anywhere in the world will have the guarantee that their personal data is deleted from vendor’s records once the commercial relationship expires. This will be a challenge for companies to implement, but it will be necessary to do so, as fines can range up to 10% of the yearly revenue.

And how to overcome all these problems around Mobile Money onboarding processes? By choosing a fully automated, paper-free and local compliant client/vendor/agent registration approach that allows you to:


Sell the whole products/services on the same platform – a single platform aggregates the whole products/services available to the vendor. With this centralized model, the field freelancers go to the store, receive a user account (registration), collect the sim cards, turn on the phone, download the app, log in, and the system pulls all the products/services they can sell. Updates to the forms or new products/services are immediately available and a push notification is sent.

Motivate sales to be more agile and focused on corporate goals – Using the combination of the Web tool, for field management, and the app, it’s easy to implement and communicate goals and incentives and all processes included in the app are already compliant.

Achieve more precision in data collection – the app allows to index data, write, auto fill or automatically capture information.

Detect frauds – business rules and fixed arrays eliminate errors and don’t let to proceed with the process if there’s something wrong, detecting potential frauds automatically.

Pay according to real performance – only processes that are compliant and real revenue generators will result in commissions.

Easily attract and retain partners – apart from street vendors, stores can also register as agents and both use the same app to make sales and registrations. It is all one integrated platform.

Analyse data and sales forecast – Using the web tool, field/area/country managers are able to analyse data and demand behaviour, and have full visibility over compliant and non-compliant sales. As the app records geo-positioning, it’s also possible to target specific regions areas, based on historical data.

Allow partners to easily run their business from mobile devices – they just need to download the app and start selling directly from their store, with no investment in computers, infrastructure, paper forms, etc. It’s very simple and easy in terms of logistics for business partners.

Know your Customer

Request documents to the customer and two-way communication – the end client or the vendor can be alerted by SMS or email about the status of their registration process, and act directly in the app or Web tool to amend any problem.

Implement customer surveys – you can create a well-structured form and evaluate (for example) the quality of the service from the app. To encourage replies, you can attach points or credits.

Due Diligence & Risk

Manage existing customer information, assess the potential for cross-selling and minimize the risk of moving customers in the value chain – you can easily include in the app more fields to fill during the registration process and give a much greater compliance spectrum than during a paper-based registration process. This opens up a new world of business with that customer: he can start with basic bill payments or small transfers, then advance to loans, international transfers, insurance…

Classify information and eliminate the risk of losing customer personal data – you can define at the entry point what data is personal, and enforce an access and retention policy to it, making it less exposed to data breaches and hacker attacks.

Legal & Compliance

Manage legal changes or products/services terms – legal and regulatory framework tends to change often, so you can easily change the app form; same if there are changes in the products/services, which can also be easily updated.

Send alerts & conditions updates – submit the information and make it available for everyone, both for end users and for vendors.

Manage private data retention periods – comply with existing regulations in terms of data capture and destruction by enforcing the access and retention policies automatically.


Automate the entire sales process – there is no manual, error-prone work because the entire process is automated, from start to finish.


And that’s it. With a multi-platform, fully digital system you can get all these gains and eliminate the problems associated with a paper-based approach – mainly in terms of compliance and control, starting from the very beginning: the onboarding process.


– Check your organization’s Mobile Money solutions, processes, regulatory compliance, operational control, and field sales team efficiency
– If you think your business could benefit from choosing a fully automated, paper-free and local compliant client/vendor/agent registration approach, get in touch with us
– If you are already efficiently working with Mobile Money, what have been the main pains and gains? Share with us in the comments
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