Allows banks to implement cost-efficient, branchless operations in remote areas through networks, local agents, and merchants.
Develop a distribution model, business partnership with existing merchant ecosystems. These third-parties distribute banking services on behalf of the bank, with their proximity and local visibility the key to acquire new clients.
Agency banking is a simple yet elegant approach, and it ensures quick service for all of its end-users.
This feature allows clients to deposit money into their bank accounts via an authorized agent. The clients hands over cash to an agent who processes the deposit electronically and their account is updated in real-time with the deposited amount. A receipt is generated and provided to the client as proof of deposit.
This feature enables clients to withdraw money from their accounts through an agent. they make a withdrawal request by providing their account details. After the account verification process and the transaction approval, the agent will handover cash to the client.
This feature allows clients to open a new bank account through an authorized agent without visiting a bank branch. Agents collect necessary client information (personal details, ID proof, etc.) via a secure form. And once verified and approved, the system creates a new bank account.
Expand banking services to remote and underserved areas without the need for physical branches, making it easier for customers to access their accounts and perform transactions.
Enable customers to deposit and withdraw money conveniently through authorized agents, eliminating the need to travel long distances to bank branches.
Provide essential banking services to unbanked and underbanked populations, promoting financial inclusion and economic development.
Ensure fast and efficient service through local agents, enhancing customer satisfaction.
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