SOURCE: Nexxo Financial

Nexxo Financial

October 04, 2012 09:03 ET

Nexxo Financial Corporation Exhibits Next Gen Underbanked Solutions at the World's Largest Retail Financial Services Conference

Nexxo and Chexar Networks, Inc. Join Forces at BAI Retail Delivery 2012 to Demonstrate the Future of Everyday Financial Service Delivery

BURLINGAME, CA--(Marketwire - Oct 4, 2012) -  Nexxo Financial Corporation will demonstrate its next generation solutions for alternative financial services at the world's largest retail financial services conference, BAI (Bank Administration Institute) Retail Delivery 2012 on October 9th, 2012. BAI attendees will see how Nexxo brings a portfolio of new technology solutions to banks, credit unions, and retailers eager to serve the growing underbanked population.

Nexxo will highlight the new Desktop Money Station (DMS), an easily deployed Web application that supports teller-assisted transactions at customer service counters or bank branches. The DMS integrates multiple vendors, such as bill payment providers, check cashers and money transmitters, so that banks can offer streamlined services to the underbanked consumers and choose from a variety of vendors without extensive delays or set-up costs. Nexxo's DMS simplifies the tellers' job with its single, consistent interface, reducing both training time and errors.

The DMS delivers fully compliant and fraud-resistant services, complete with accounting and other transaction-handling policies. It runs on the same Everyday Financial Services (EFS) platform already proven in Nexxo's kiosks.

Along with DMS, Nexxo will demo the K3000 and the K2000, the only self-serve kiosks offering a full suite of EFS services including: check cashing; prepaid card loading; bill pay; money transmission; money order purchase; phone minute top-up; and cash withdrawal.

The unique ability of Nexxo's technology to capture consumers' profile and transaction history means that -- for the first time -- alternative financial service providers can build valuable relationships with the underbanked. With this portfolio view of the consumer, providers can target promotions and pricing to drive loyalty and expand usage of the full suite of transactions. "The underbanked haven't traditionally had technology focused on how to make their lives easier. But that is changing. Today we're making it possible for the underbanked to complete all their everyday financial services with much greater convenience and less cost," said Nexxo CEO and co-founder David Alvarez.

Chexar Networks, Inc. will join Nexxo in booth number 814 at the conference to demonstrate their compatible solutions. Chexar's check-cashing technology, at work in Nexxo's EFS platform, enables consumers to convert any type of paper check into funds that are immediately available. The Nexxo-Chexar partnership dates back to 2010 when Nexxo developed the first full-service kiosk capable of cashing any check using any type of customer identification.

BAI Retail Delivery 2012 takes place October 9th-11th in Washington, D.C. BAI is the largest retail financial services event in the world. It brings together thought leaders from financial services and technology, and is attended by thousands of retail banking professionals each year.

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

Contact Information

    Adriana Eiriz
    Chief Marketing Officer
    Email Contact