Home Banking Wema Bank introduces agent banking, targets retail sector in North West Nigeria

Wema Bank introduces agent banking, targets retail sector in North West Nigeria

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Agent Bank is a cost-effective medium employed by Banks to provide financial access to unbanked, underbanked and branch-starved communities

Wema Bank Plc, Nigeria’s longest serving indigenous Bank and pioneer of Africa’s first fully digital bank, ALAT, has introduced agent banking in Kano as it seeks to deepen its retail footprint across informal economic sectors of the North Western states and to drive financial inclusion within the entire northern region of the country.

Agent Bank is a cost-effective medium employed by Banks to provide financial access to unbanked, underbanked and branch-starved communities.

It is the provision of basic financial services such as Account Opening, Cash deposit, Cash withdrawal, Fund transfer, Bills payment, Airtime Recharge etc, through third parties (Agents).

Kano State is a huge state with 44 Local Government Areas and arguably the biggest market in Northern Nigeria.

Wema Bank is keen to rapidly expand its presence across the state and capture the larger market by employing Agent Banking to recruit at least one Agent in each LGA.

Already, 13 Fixed Agents have been engaged and trained.

From: theeagleonline.com.ng

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