CR2 - Redefining financial inclusion through agency banking
With around 2 billion people globally acknowledged as not using any kind of formal financial services, financial inclusion remains an ever important topic for national and retail banks in fast growing markets. Recently, we have also seen organisations such as The World Bank, IFW and countless NGO’s including the Bill and Melinda Gates foundation recognise global financial inclusion as a top social and economic priority.
Far from its historic definition of merely servicing the unbanked, financial inclusion has now come to also encompass the delivery of financial services in a cost-effective and convenient way to customers who may be geographically dispersed or have limited access to bricks-and-mortar bank branches. In this presentation, CR2 will examine the role of Agency Banking in improving global financial inclusion, showing how banks can use this solution to provide truly transformative access to new financial products, such as savings, credit and insurance services. We will also discuss Agency Banking as a mutually beneficial tool for banks, showing how they can use this engine to tap into new market segments intelligently and profitably.