Agency banking is banking service that allows customers to conduct their banking transactions through third-party agents rather than directly with a bank. Helps to promote financial inclusion. By leveraging the network of agents, banks can reach out to previously underserved segments of the population, such as rural communities and low-income households. This, can help to stimulate economic growth and development in these areas.
This innovative product has the potential to revolutionize banking, especially in areas where access to traditional banking services are limited.