In the face of such challenges, agency banking has emerged as a growth engine for Africa’s financial ecosystem. By leveraging existing networks of local businesses and entrepreneurs as banking agents, agency banking solutions expands the reach of financial services beyond physical bank branches. This approach not only addresses logistical and cost barriers but also brings […]
Financial inclusion refers to individuals or companies accessing financial products and services that meet their needs. Having said that, a recent McKinsey study estimates that nearly 2.5 billion people face financial exclusivity, primarily in Africa, Asia, Latin America, and the Middle East. Traditional banking models, with their limited branch networks and complex procedures, often fail […]
Nearly 48% of the population in Africa uses banking services, which means half of the population remains unbanked. Agent banking platforms become a flicker of hope in underserved markets by decentralizing banking operations and making the most out of local agents to reach remote areas and cities alike. This gives everyone a safe place to […]
Banks may address this need by offering customers access to financial services in places and ways that are more convenient for them, thanks to agency banking. Along with providing all the banking services, agency banking solutions are pivotal in reducing bank costs and increasing revenue. Therefore, growing areas such as Bangladesh have pioneered agency banking […]
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