Bringing Banking to the Masses: Agency Banking and the Power of No-Code Low-Code Platform
Traditional branches are becoming less and less popular in today’s mobile-driven society, leading banks to adopt innovative solutions; one such solution that has gained traction is agency banking. In agency banking, financial institutions or banks partner with non-bank or third-party agents, such as grocery stores, pharmacies, mobile shops, mobile wallets, supermarkets, and fuel stations, to provide financial services to their customers. This new way of branchless approach has provided financial inclusion for millions of people who may not have access to traditional banking services.
Nowadays, this branchless banking approach is becoming increasingly popular, especially in developing countries, as it enhances financial inclusion and reach by allowing banks to serve customers in remote or underserved areas making it Neighbourhood Banking. In recent years, the rise of no-code, low-code platforms and API-first approaches has enabled agencies to simplify their operations and expand their ecosystem more efficiently. Additionally, the integration of holistic analytics and monitoring technologies has enabled agencies to better understand customer behavior and optimize their services accordingly. These integrated solutions help agencies maintain compliance, keep costs low, and improve customer satisfaction, making agency banking a powerful tool for financial institutions and banks that are looking to expand their customer base and reach new markets.
Streamlining Agency Banking Operations with an API-First Approach