Extending Financial Services with Banking Agents
Banking agents are retail vendors, lottery outlets, and post offices-trusted local establishments that can double as a kind of bank branch for their customers, processing everything from bill and pension payments to deposits, withdrawals, and money...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/04/9470958/extending-financial-services-banking-agents http://hdl.handle.net/10986/9523 |
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okr-10986-95232021-04-23T14:02:45Z Extending Financial Services with Banking Agents Siedek, Hannah AGENTS ALTERNATIVE BANKING BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANKING SERVICES BANKS BARCODE BUSINESS MODEL BUSINESS MODELS BUSINESS PROCESSES CASH ON HAND CREDIT APPLICATIONS CURRENT ACCOUNTS DEPOSIT DEPOSITS DISTRIBUTION CHANNEL E-MONEY EMPLOYEE EMPLOYER FINANCIAL INSTITUTIONS FINANCIAL PRODUCTS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FORMAL BANKING INSTITUTION KEY CHALLENGES LATIN AMERICAN LIQUIDITY MARKETING MERCHANT MERCHANTS MICROFINANCE MICROFINANCE INSTITUTIONS MOBILE PHONE MOBILE PHONES MONEY TRANSFERS NETWORKS PAYMENT PROCESSING PENSION PERSONAL COMPUTERS POINT-OF-SALE POOR CLIENTS POST OFFICES REGULATORS REGULATORY FRAMEWORK REPUTATION RETAIL OUTLETS SERVER TRANSACTION USERS VILLAGE WEB WEB SITE Banking agents are retail vendors, lottery outlets, and post offices-trusted local establishments that can double as a kind of bank branch for their customers, processing everything from bill and pension payments to deposits, withdrawals, and money transfers. Banking agents' lower set-up and running costs promise to help banks and microfinance institutions reach more and poorer people living far from the nearest branch, with more financial products, at lower cost, than traditional microfinance or banking channels. Banking agents process transactions with point-of-sale (POS) card readers, barcode scanners, and sometimes personal computers that connect with the bank's server using a dial-up or other data connection. The clerk at the retail or postal outlet collects and disburses cash and, in some cases, opens bank accounts for new clients and fills in credit applications. The retail outlets earn a portion of the transaction fee. Some generate so much business from handling these transactions that they dedicate an employee to operating the POS device. Some banks use management companies to identify, equip, train, and support banking agents and to assume all liabilities for the cash they handle. These intermediaries are compensated with a portion of the transaction fees. 2012-08-13T08:51:42Z 2012-08-13T08:51:42Z 2008-04 http://documents.worldbank.org/curated/en/2008/04/9470958/extending-financial-services-banking-agents http://hdl.handle.net/10986/9523 English CGAP Brief CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
AGENTS ALTERNATIVE BANKING BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANKING SERVICES BANKS BARCODE BUSINESS MODEL BUSINESS MODELS BUSINESS PROCESSES CASH ON HAND CREDIT APPLICATIONS CURRENT ACCOUNTS DEPOSIT DEPOSITS DISTRIBUTION CHANNEL E-MONEY EMPLOYEE EMPLOYER FINANCIAL INSTITUTIONS FINANCIAL PRODUCTS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FORMAL BANKING INSTITUTION KEY CHALLENGES LATIN AMERICAN LIQUIDITY MARKETING MERCHANT MERCHANTS MICROFINANCE MICROFINANCE INSTITUTIONS MOBILE PHONE MOBILE PHONES MONEY TRANSFERS NETWORKS PAYMENT PROCESSING PENSION PERSONAL COMPUTERS POINT-OF-SALE POOR CLIENTS POST OFFICES REGULATORS REGULATORY FRAMEWORK REPUTATION RETAIL OUTLETS SERVER TRANSACTION USERS VILLAGE WEB WEB SITE |
| spellingShingle |
AGENTS ALTERNATIVE BANKING BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANKING SERVICES BANKS BARCODE BUSINESS MODEL BUSINESS MODELS BUSINESS PROCESSES CASH ON HAND CREDIT APPLICATIONS CURRENT ACCOUNTS DEPOSIT DEPOSITS DISTRIBUTION CHANNEL E-MONEY EMPLOYEE EMPLOYER FINANCIAL INSTITUTIONS FINANCIAL PRODUCTS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SYSTEM FORMAL BANKING INSTITUTION KEY CHALLENGES LATIN AMERICAN LIQUIDITY MARKETING MERCHANT MERCHANTS MICROFINANCE MICROFINANCE INSTITUTIONS MOBILE PHONE MOBILE PHONES MONEY TRANSFERS NETWORKS PAYMENT PROCESSING PENSION PERSONAL COMPUTERS POINT-OF-SALE POOR CLIENTS POST OFFICES REGULATORS REGULATORY FRAMEWORK REPUTATION RETAIL OUTLETS SERVER TRANSACTION USERS VILLAGE WEB WEB SITE Siedek, Hannah Extending Financial Services with Banking Agents |
| relation |
CGAP Brief |
| description |
Banking agents are retail vendors,
lottery outlets, and post offices-trusted local
establishments that can double as a kind of bank branch for
their customers, processing everything from bill and pension
payments to deposits, withdrawals, and money transfers.
Banking agents' lower set-up and running costs promise
to help banks and microfinance institutions reach more and
poorer people living far from the nearest branch, with more
financial products, at lower cost, than traditional
microfinance or banking channels. Banking agents process
transactions with point-of-sale (POS) card readers, barcode
scanners, and sometimes personal computers that connect with
the bank's server using a dial-up or other data
connection. The clerk at the retail or postal outlet
collects and disburses cash and, in some cases, opens bank
accounts for new clients and fills in credit applications.
The retail outlets earn a portion of the transaction fee.
Some generate so much business from handling these
transactions that they dedicate an employee to operating the
POS device. Some banks use management companies to identify,
equip, train, and support banking agents and to assume all
liabilities for the cash they handle. These intermediaries
are compensated with a portion of the transaction fees. |
| format |
Publications & Research :: Brief |
| author |
Siedek, Hannah |
| author_facet |
Siedek, Hannah |
| author_sort |
Siedek, Hannah |
| title |
Extending Financial Services with Banking Agents |
| title_short |
Extending Financial Services with Banking Agents |
| title_full |
Extending Financial Services with Banking Agents |
| title_fullStr |
Extending Financial Services with Banking Agents |
| title_full_unstemmed |
Extending Financial Services with Banking Agents |
| title_sort |
extending financial services with banking agents |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/04/9470958/extending-financial-services-banking-agents http://hdl.handle.net/10986/9523 |
| _version_ |
1764409672141373440 |