The Benefits of Agency Banking
cost of transactionUsing agents can reduce the cost of doing a transaction by about 25 percent compared to branch transactions. (IFC)
points of sale
An MFI multiplied its points of sale 15 times with the introduction of Agency Banking from Software Group.
A financial institution drives 70% of transactions through its agent network, reducing branch queues and improving customer experience (IFC).
An institution increased the amount of savings mobilized through the agent channel seven-fold within a year.
Branchless Banking Expansion
Scale your points of service with a low upfront investment
Cut Operational Costs
Reduce heavy ATM and branch network costs and decongest branches. Serve high-volume, low-value transactions via agents.
Provide cash withdrawals, deposits, top-up, bill payments, and more, close to where your customers live, at extended hours.
Profit from New Channels
Mobilize deposits to decrease cost of funds. Activate new revenue streams by expanding agents' portfolio beyond cash in/out.
Accelerate Financial Inclusion
Reach unbanked and underserved customers before competitors through local agents and merchants they can trust.
Baobab Increased Points of Sale 15 Times with Agency Banking
Baobab, a leading financial institution focusing on financial inclusion in Africa and China, increased the proximity of their financial services through a robust agent network. End customers enjoy a new banking experience with significantly quicker on-boarding. Baobab multiplied its points of sale 15 times with the introduction of alternative delivery channel solutions from Software Group.
Agent Banking Best Practices Delivered
Leverage on our experience from deploying Agency in more than 15 countries.
Everything You Need to Grow and Manage a Successful Agent Network
Convert local shops into agents. Manage from a central space.
- Organise with unlimited agent hierarchy and support for agent types, roles, and access levels.
- Scale the network fast by onboarding new agents on the go with secure authentication and geolocation.
- Set up flexible rules for commission sharing, fees and limits. Manage float and liquidity.
- Minimize agent training through intuitive self-service apps with superb UX on smartphones, USSD, POS.
Enable Agents to Transact. Watch Your Customer Base & Profits Grow.
Provide a multitude of transactions through agents.
- Customer registration & account opening with secure data capture and Bio, Card or OTP eKYC authentication
- Real-time transactions - cash in/ cash out, transfers, balance checks, mini statements
- Value-add transactions for new revenue streams - airtime top up, bill payments, pre-approved nano loans, remittances, micro insurance, etc.
Embedded Agency Analytics
Unleash the agent network's full potential. Supercharged with AI. Measure, assess and predict the performance of your agent network smartly.
A Digital Transformation Platform in Action.
Agency Banking is built on DigiWave Platform. Future-proof your digital channel business case.
Centralized Management. Multi-country. Multi-tenant
Manage all your digital channels from a central administration portal. Leverage on mature agency banking capabilities.
Seamless API-driven Integrations
Easily integrates with your core banking and legacy systems. Embed third-party provider services to enrich your offering.
Customize your own or use out-of-the-box workflows. Benefit from multi-level loan decisions, fueled by data. Digitize, automate and streamline all processes.
Credit Scoring & Advanced Analytics
Offer fast track loans to your best customers and nurture the rest. Lower delinquency risk from the start. Identify opportunities through analytics.
Flexible Onboarding & Origination Forms
Easily configure your own forms. Store data on the DigiWave platform or directly in your core banking or other systems.
24/7 Service Availability
Excellent reliability in both mature and developing markets. Seamless payment processing with transaction authorization, reconciliation and 24/7 store and forward.
In light of the current Covid-19 crisis, causing the emergence of completely new customer behaviors, how can financial institutions get Agency ready for low-touch?