The financial world continues to experience exponential growth, but despite this, access is still often the dividing line between inclusion and exclusion. Agency banking has become a game changer in the financial world, ensuring millions of people in unbanked and underbanked have access to banking services. It transforms everyday businesses into access points for essential
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The financial world continues to experience exponential growth, but despite this, access is still often the dividing line between inclusion and exclusion. Agency banking has become a game changer in the financial world, ensuring millions of people in unbanked and underbanked have access to banking services. It transforms everyday businesses into access points for essential
65Nigeria’s active effort to improve financial services and make them available to the underserved populace continues. As a result, the financial sector has undergone dramatic changes, which have greatly enhanced financial inclusion, among other benefits. Agency banking, introduced by the Central Bank of Nigeria (CBN), played a crucial role in achieving financial inclusivity. While we
Nigeria’s active effort to improve financial services and make them available to the underserved populace continues. As a result, the financial sector has undergone dramatic changes, which have greatly enhanced financial inclusion, among other benefits. Agency banking, introduced by the Central Bank of Nigeria (CBN), played a crucial role in achieving financial inclusivity. While we
71The financial sector has seen major changes over the past few decades, with new innovations emerging to create financial solutions and cater to customer needs traditional banking could not address. Agency banking is a compelling alternative, particularly in regions with limited access to formal banking. This blog post will explore what sets traditional banking apart
The financial sector has seen major changes over the past few decades, with new innovations emerging to create financial solutions and cater to customer needs traditional banking could not address. Agency banking is a compelling alternative, particularly in regions with limited access to formal banking. This blog post will explore what sets traditional banking apart
96The Unemployment Challenge and the Promise of Agency Banking Before adopting agency banking, many Nigerians had limited access to traditional banking services, particularly in rural and underserved urban areas. The gap in financial access hindered economic growth and restricted job opportunities, especially for the young population and women. With the country’s unemployment rate rising, the
The Unemployment Challenge and the Promise of Agency Banking Before adopting agency banking, many Nigerians had limited access to traditional banking services, particularly in rural and underserved urban areas. The gap in financial access hindered economic growth and restricted job opportunities, especially for the young population and women. With the country’s unemployment rate rising, the
186Despite any reservations, agency banking is undeniably a transformative force in the financial services landscape. It’s not just bridging the gap between traditional banks and the unbanked populace; it is reshaping the entire banking experience. The financial industry aims for a digital future with a cashless society. Still, cash is king in Africa, so there
Despite any reservations, agency banking is undeniably a transformative force in the financial services landscape. It’s not just bridging the gap between traditional banks and the unbanked populace; it is reshaping the entire banking experience. The financial industry aims for a digital future with a cashless society. Still, cash is king in Africa, so there
92Over a decade ago, the advancement of information and Technology (ICT) facilitated the innovative rise of agency banking. It has since redefined the Nigerian banking industry. Ultimately, the evolving innovation has greatly altered traditional banking stressful procedures. Customers have easy and quick access to banking services courtesy of agency banking, which engages the services of
Over a decade ago, the advancement of information and Technology (ICT) facilitated the innovative rise of agency banking. It has since redefined the Nigerian banking industry. Ultimately, the evolving innovation has greatly altered traditional banking stressful procedures. Customers have easy and quick access to banking services courtesy of agency banking, which engages the services of
93Agency banking has become a major innovation in the financial services sector today, especially in areas where traditional banking infrastructures are inaccessible. This innovation increases the reach of financial institutions and encourages financial inclusion by using local agents to deliver some banking services. In addition, it encourages financial health by promoting best practices in banking.
Agency banking has become a major innovation in the financial services sector today, especially in areas where traditional banking infrastructures are inaccessible. This innovation increases the reach of financial institutions and encourages financial inclusion by using local agents to deliver some banking services. In addition, it encourages financial health by promoting best practices in banking.
