The right strategy is key to success in agent banking. Implementation of agent banking should support the bank’s retail and commercial customers. The appropriate distribution strategy will depend on a range of factors including, the existing branch network, competition, customer base, the availability of super-agents, aggregators, and shared agents. In a low-cost channel, the business case is less about the income derived directly through net commissions and more about the how agent banking benefits the business of the bank. Indirect benefits can include deposit mobilisation, loan interest from the channel servicing nano loans and client acquisition.
In these assignments I headed the agent banking strategy, but, worked alongside an implementation team from MSC Consulting.
To read more on agent banking see the blog: Understanding Agent Banking Strategy