JMR INFOTECH LOGO

Reach a larger number of customers and improve financial inclusion

Agency Banking aka branch-less banking is quickly emerging as a way to offer services to those without banking access.  Financial institutions are constantly looking at new ways to reach the unbanked and serve existing customers better. As a retail banking option, this model is flexible and can meet local needs. Indeed, the adoption of agency banking has resulted in making services available to those with limited access. What makes the Agency Banking  especially useful is that financial products and services can be offered by non-banking companies. Banks can partner with post offices or retailers to offer access to loans to new customers. Without doubt, such access saves banks the cost of setting up new branches while offering customers access to funding.

Benefits of Agency Banking

  • Distribution: Agency Banking helps regular banks to reach areas with few branches and offer service to those who do not have access.
  • Channels: The availability of multiple channels has made it easier for banks to make inroads into underserved areas and customers.
  • Cost-effectiveness: This model helps financial institutions reach more customers and offer products at lower costs. Agents have the responsibility of signing up new customers and also managing and serving them better.

With the help of exhaustive portfolio of banking solutions, banks and other institutions can offer services directly to customers. In fact, the ability to offer services at a customer’s doorstep is the USP of this model. Banks also benefit through a larger customer base, boosting financial inclusion by reaching the underserved. The solution lets banks to provide essential banking services like savings accounts, deposits, withdrawals, and balance checks.  Additionally, value added services like utility bill payments, mobile airtime top-up, etc. helps to gain more customers.

Call us today and let JMR’s experts help you with information and become a partner in growth.

Features

  • Modular and SOA based architecture
  • Facilitates easy integration with any CBS and third party applications
  • Omni-channel accessibility like POS Terminals, Mobile Phones, Laptops and Tablets in conjunction with external accessories
  • Branch Managers have real-time information on business transactions, customer information and balances
  • Streamlined and automated operations
  • Enhanced electronic data capture to ensure flexible reporting and accurate reconciliation
  • Cloud-ready
  • Easy configuration of value added services that the bank may wish to include like utility bill payments, airtime top-ups, and insurance premium payments

Business benefits

  • Increased customer base and market share
  • Reduced TCO: Greater geographical reach without additional expenditure in setting up new branches
  • Reduced cost of operations since services are provided through agents and not the bank employees
  • Increased volume of transactions through various alternate channels
  • Hassle free transactions with biometric authentication

Other Offerings From JMR

Whitepaper

Rapid Accounting Transformation with Oracle Financials Accounting Hub

The customer is one of the most popular bank in Vietnam. It provides banking services and products to retail and ...

Strategic Analysis of Indian Life Insurance Industry – by Parthasarathy Srinivasan

IT has been more than a decade since the insurance industry opened up in India; there are 23 i private Life ...

View more whitepapers

Blog

  • African Growth to be Brought About by Banks 30 July 2014

    Africa has entered the 21st Century with its head held high and a yearly average growth of more than 5%. The journey has not been easy ...

  • Emerging Trends in Banking 2014 14 July 2014

    Regulatory forces continue to shape the competitive dynamics of the industry, compliance and capital pressures are pushing large banks to rethink the businesses they want ...

  • A New Generation of Core Banking 11 June 2014

    Shifts in demographics, incomes and behaviour in addition to easily accessible information are empowering customers to demand greater autonomy, transparency and responsiveness from their banks. ...

  • Evolution of Core Banking and Sustainability in the Current Business Environment 10 June 2014

    The financial services industry is undergoing rapid transformation. Mergers, acquisitions and consolidations are emerging as the order of the day. In such a situation where ...

View all blog
Share Social Media