Blogs > Agency Banking, Financial Inclusion, Open Banks

Agency Banking, Financial Inclusion, Open Banks

BY AUBREY CORDA | July 13, 2020

“Banking Everywhere, Never at a Bank”, that’s Banking 4.0 by Brett King one for the foremost thought leaders on transformation of banking as a service. API Banking is now a reality and this has helped banks and Fintechs collaborate to transform banking by focusing on:

User experience:
* Any number of forms v/s minimizing clicks
* Record keeping v/s insight seeking
* Segmented v/s personalized

Service delivery:
* Banked:
*** Limited branches, online/mobile services
*** Life Time Value & Number of Products
* Un & Underbanked:
*** Vast network of assisted service points
*** High volume, Low ticket business

Secure payment terminals with biometric authentication in the hands of licensed banking agents are playing a major role in serving the un / underbanked citizens who are disadvantaged on account of literacy, awareness and access; resulting in exploitation by loan sharks and unlicensed remittance services.

Within a year of its international foray, MoreFun is proud to have partnered with leaders in the field of Agency Banking / Financial Inclusion in South Asia & Africa to serve the un / underbanked.