Agent Banking

Agent Banking means providing limited scale banking and financial services to the underserved population through engaged agents , under a valid agency agreement, rather than a teller/ cashier.

Agent Banking is a delivery channel that holds high potential for closing the location gap. Actually. it is the owner of an outlet who conducts banking transactions on behalf of a bank. Globally these retailers are being increasingly utilized as important distribution channels for financial inclusion for: availing more products at a wider scale,  contributing to the enhancement of Financial Inclusion and reducing costs while containing risk.

Agents can play a vital role in a range of banking services, as such of: Account opening, Cash-in and cash-out services (including cash disbursement of bank-approved loans and repayment collection), Payment and transfer services (including international remittances and person-to-person domestic transfers), and Credit underwriting (sometimes).

Download the following report to know more about Agent Banking:

By Yasmine Anwar – Researcher at Egyptian Banking Institute

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