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According to a report by the World Bank, around 1.7 billion adults in the world remain unbanked as they donu2019t have a bank account. Back in 2014, this number was 2 billion. To fight this grim reality the governments of many countries have started to aggressively focus on financial inclusion.<br>
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Components of agency banking • Agent banking service provider • Banks/Financial institutions • Banking agents • Super/sub-agents • Mobile operators • Consumers
Advantages of agency banking for banks • Reduce costs • Increasing customer base • Asset quality maintenance • Build trust and awareness • Enhanced customer experience • Supports various types of transactions • High security
Agency banking facilitating financial inclusion around the globe
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