Cashless on the Continent – Globasure Agency Banking Solution (GABS)

Research conducted by Globasure Technologies Limited, Via Operational Team headed by Mr Ehikioya Okpaireh has shown that almost one in four Brits (23%) has been marooned both at home and at abroad without access to cash. The top causes of being caught cashless at home and especially abroad are:

30% overspent and under-budgeted
30% were a victim of a crime
10% managed to misplace their travel money

Interestingly 60% of those left without money while away were younger travellers, aged under 25, suggesting this group in particular are vulnerable maybe due to inexperience in managing money or as they tend to be greater risk takers than older travellers.

Recognising that travellers can need help at any time, Globasure Technologies Limited came up with an innovation to help their Merchant and customers to be able to have access and make their daily payment anytime, anywhere. This platform is known as: Globasure Agency Banking Solution (GABS).

GABS-is a concept of expansion of   branch banking services via agent acquiring network, Mr Ehiokioya Okpaireh stated.

On his own part, the MD/CEO of Globasure Technologies Limited, Mr Chris Ife, stated that Gobasure Banking Agency Solution (GABS) is provided to make end-to-end payment solution possible.

To support his argument, the MD/CEO Mr Chris Ife give a detailed highlights of GABS as follows:

The Globasure agency banking Solution (GABS) enables expansions and the availability of banking services by using modern channels and devices, without major investments in infrastructure and manpower.Implementation of GABS technology enables financial institutions to involve agents to operate on their behalf,retailing full insight,control and accountability of its business.Agents become an extended arm of financial institutions th,at participate equally in the provision of services to end -users.

• End-to-end functionality and multi-institution support
• Parametrized and configurable rule-based approach that does not care about card and account types-particular for product management,operational risk management and transaction management
• Flexible and modular with:

• Built-in workflow to reduce costs.
• Real time position keeping,transaction management,reporting and exception handling;
• Three-tier architecture, in which the presentation layer,business logic and data are seperate and easy to change;
• A componentized system in which modules can be easily added or removed;
• SOA enabled and web-based interfaces
• Library of adapters/XML interfaces for integration with third-party application(such as core banking).