Nigerian banking and finance has undergone a significant transformation, especially in underserved regions where access to financial services is limited. Agency banking emerged as a game-changer and bridged the gap between traditional banks and unbanked communities. This innovative model has reduced the reliance on physical bank branches by enabling financial institutions to extend their reach
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Nigerian banking and finance has undergone a significant transformation, especially in underserved regions where access to financial services is limited. Agency banking emerged as a game-changer and bridged the gap between traditional banks and unbanked communities. This innovative model has reduced the reliance on physical bank branches by enabling financial institutions to extend their reach
252The Point-of-Sale (PoS) business has some challenges though it is a lucrative and an- easy venture. From securing the initial equipment to following regulatory policies and operational setbacks, POS agents face unique struggles that often go unnoticed, which allows people to criticise them. This past week, we interacted with PoS agents to gain firsthand insights
The Point-of-Sale (PoS) business has some challenges though it is a lucrative and an- easy venture. From securing the initial equipment to following regulatory policies and operational setbacks, POS agents face unique struggles that often go unnoticed, which allows people to criticise them. This past week, we interacted with PoS agents to gain firsthand insights
143Agency banking has become an effective tool for extending financial services to underserved and unbanked communities. Despite its transformative potential, one persistent challenge is liquidity management, which ensures agents have adequate cash to meet customer needs. Artificial Intelligence (AI) is revolutionising this process, which offers innovative solutions to optimise liquidity management in agency banking. This
Agency banking has become an effective tool for extending financial services to underserved and unbanked communities. Despite its transformative potential, one persistent challenge is liquidity management, which ensures agents have adequate cash to meet customer needs. Artificial Intelligence (AI) is revolutionising this process, which offers innovative solutions to optimise liquidity management in agency banking. This
149It is that time of the year again, filled with the hustling and bustling of people preparing to have a nice holiday with their loved ones. Interestingly, the festive period also offers significant opportunities for POS agents to maximise profit. It is undoubtedly the peak period for POS agents, which also comes with challenges, particularly
It is that time of the year again, filled with the hustling and bustling of people preparing to have a nice holiday with their loved ones. Interestingly, the festive period also offers significant opportunities for POS agents to maximise profit. It is undoubtedly the peak period for POS agents, which also comes with challenges, particularly
190The 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
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
387Nigeria’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
220The 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
249The 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
363Despite 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
251Over 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
