AW Cloud

Comprehensive SaаS-based services for your Bank’s customers

System Overview
  • Access to customer services through any of your Bank’s or your partners devices
  • Expanding your product and service offering
  • Fast time-to-market for your partners products and services

AW Cloud is part of our comprehensive AnyWay solution.

What makes our offering unique is the business model it relies on - we offer cloud-based integrated services that help our customers take advantage of the abovementioned benefits.

We invite banks to use our remote banking capabilities on an SaaS basis with no license fee. But there is more to it. We encourage them to integrate their remote banking services with our service platform to get access to the AnyWay-based Register of Available Service Providers. Being included on this Register, a bank can make its services available for use by other banks and can take advantage of the available third-party banks’ services to increase the utilization of its own remote banking channels.

We apply this principle throughout our AW Cloud landscape, which is open to all banks, including those that have not implemented our system yet. Being connected to AW Cloud is not only about having an Internet address, following the rules of interaction and complying with the financial terms and conditions. We pursue a different approach. We can grant access to any services that are available at our platform directly through our customers’ channels, such as payment terminals, ATM's or online/mobile banking apps, regardless of the type of system used by the customer. What makes our offering particularly compelling is the fact that banks can have their services integrated with our platform without upgrading their existing technology.
 

Register of available service providers

The Register of Available Service Providers is a table which contains information on individual banks, including the contracts each bank wishes to sell and the fees it is ready to pay to the other banks that may want to use its contracts. Having access to this table, participating banks can choose the services they are interested in. It is FinStream’s responsibility to make the selected services available directly through the customer’s channels and enable the completion of payments from agent bank’s self-service devices to the banks that hold contracts with service providers, i.e. provider banks. Most importantly, we guarantee that all the payments completed through AnyWay will be received by respective service providers. AnyWay also allows routing transactions based on the availability of channels, their profitability or availability of funds on users’ accounts. For example, if a user wants to transfer funds through an aggregator to top up his or her mobile phone account, and the aggregator’s channel is unavailable, the system will reroute this transaction to another channel, and funds will be deposited to the account through another aggregator. One way or another, the transaction will be successfully completed.

Another advantage of AW Cloud is that banks can post in the Register their direct contracts which may not be advertised by any payment integrator, such as those with small condominiums, paid parking lots and other small service providers, 90% of which are not present on aggregators’ lists due to their small transaction volumes. Our platform gives banks a unique opportunity to win this lucrative market by making direct contracts with all such local condos, parking lots, garages, kindergartens, schools, etc. This done, they can integrate these services with their customer interaction channels and post these contracts on the Register of Available Service Providers in order to get additional revenues on the basis of sharing fees with other banks that use our platform and wish to open their networks for payments to such service providers. This approach will help to grow total fee revenues.

Last but not least, while for a provider bank this model is a compelling source of additional transactions, agent banks can use it to bring on board the service providers they need quickly and with no extra costs. What is important, they can achieve all this without overwhelming their accountants with additional contracts or freezing money in security deposits of several aggregators. Moreover, as opposed to working with an aggregator where the initial fee of a bank is minimal and only grows in the wake of the growth in turnover, working with us an agent bank can claim a fee as big as that established for the provider bank due to its good relationship with a given service provider.