Agent Banking Services

Agent banking
Project Details

The true power of agency banking cannot be unleashed until some trusted third parties are not involved in performing some of the activities that are traditionally performed in branches by financial institution staff. It’s also understood that agents are best utilized when banks equip agents with some technology products. One of such technological product is mobile banking.

The brief roles of agents are mentioned below:
  • Opening of Branchless Banking Accounts (Level 1 accounts only)
  • Cash in / Cash out
  • Bills Payments (Both from registered BB customers as well as from walk-in Customers of any utility company)
  • Remittance
  • Airtime Top up
  • Account Opening
  • Salary Disbursement
It’s up to the bank to engage the agents on the level of operations. Banks can also follow multiple agency structures to manage them in a better productive way. For example, Bank can appoint super agents, who in turn appoint sub agents and direct agents etc. Banks can also decide on what is the type of account they would like to offer to customer based on the information submitted by customer at the time of opening an account. Agent based banking is the adding values in mobile financial services which will give extra leverage to the banking when an agents will collects deposit, insurance, utility bills, withdrawal etc.