{"id":43345,"date":"2017-09-19T15:13:34","date_gmt":"2017-09-19T19:13:34","guid":{"rendered":"https:\/\/staging21.finca.org\/uncategorized-en-ca\/case-study-agency-banking-africa"},"modified":"2024-11-04T02:07:38","modified_gmt":"2024-11-04T07:07:38","slug":"case-study-agency-banking-africa","status":"publish","type":"post","link":"https:\/\/finca.org\/en-ca\/case-study-agency-banking-africa","title":{"rendered":"New Case Study Details How to Deploy Successful Agency Banking in Africa"},"content":{"rendered":"<p><strong>September 19, 2017, Montreal, QC<\/strong> \u2014Today, FINCA, in partnership with the Mastercard Foundation, released a <a href=\"https:\/\/www.fincacanada.org\/mastercard-partnership\/case-studies\">case study<\/a> to highlight FINCA\u2019s journey in deploying agency banking in Africa over the past four years.\u00a0 The case study outlines ten strategic, operational and technical learnings that other finance and microfinance institutions can consider when creating or building upon a similar program.<\/p>\n<p>Working jointly, FINCA and the Mastercard Foundation have deployed various digital solutions, such as agency and mobile banking, to scale up financial inclusion efforts and reach more underserved and unbanked communities in Sub-Saharan Africa.<\/p>\n<p>Agency banking utilizes a network of local merchants and shopkeepers, in areas where FINCA usually doesn\u2019t have a presence, to provide basic banking services. The agents are equipped with POS (Point of Sale) machines, a portable device that securely connects to FINCA bank accounts through biometric fingerprints. Since launching agency banking in the DR Congo in 2012, over 80 percent of all transactions by FINCA clients in that country are done through banking agents.<\/p>\n<p>Agency banking has since expanded to FINCA\u2019s subsidiaries in Malawi, Nigeria, Tanzania and Zambia, working with over 1,400 agents in the field.<\/p>\n<p>FINCA\u2019s approach is to adopt and scale technology to deliver efficient, customer centric products while still maintaining close relationships with our customers. \u00a0Other key lessons detailed in the case study include the importance of gaining institutional buy-in, aligning strategic goals and gaining customer trust to drive uptake and usage.<\/p>\n<p>According to FINCA Impact Finance CEO Andr\u00e9e Simon, \u201cAgent banking removes a lot of the logistical barriers that prevent people from fully leveraging the financial tools available to them. FINCA is now developing financial products and services to be delivered through this increasingly important channel.\u201d<\/p>\n<p>\u201cWe\u2019re pleased to support FINCA,\u201d said Sumaiya Sajjad, Program Manager at the Mastercard Foundation, \u201cas it expands agency banking to reach remote and underserved communities in Africa and offer critical banking solutions. This partnership shows that, by investing in agent networks and value-added services, financial service institutions can better serve their clients and help to close the gap of the financially excluded.\u201d<\/p>\n<p>The new case study can be accessed here: <a href=\"https:\/\/www.fincacanada.org\/mastercard-partnership\/case-studies\">https:\/\/www.fincacanada.org\/mastercard-partnership\/case-studies\/<\/a><\/p>\n<p><strong>About FINCA Canada<\/strong><\/p>\n<p>FINCA Canada\u2019s mission is to alleviate poverty through lasting solutions that help people \u2013 women in particular &#8211; build assets, create jobs, and raise their standard of living. For more information, please visit www.FINCACanada.org or follow us at <a href=\"https:\/\/twitter.com\/finca\">@FINCA<\/a> on Twitter.<\/p>\n<p><strong>About Mastercard Foundation<\/strong><\/p>\n<p>The Mastercard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Africa. As one of the largest private foundations, its work is guided by its mission to advance learning and promote financial inclusion to create an inclusive and equitable world. Based in Toronto, Canada, its independence was established by Mastercard International when the Foundation was created in 2006. For more information and to sign up for the Foundation\u2019s newsletter, please visit\u00a0<a href=\"http:\/\/www.mastercardfdn.org\">www.mastercardfdn.org<\/a>. Follow the Foundation at\u00a0<a href=\"https:\/\/twitter.com\/MastercardFdn\">@MastercardFdn<\/a>\u00a0on Twitter.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FINCA, in partnership with the Mastercard Foundation, released a case study to highlight FINCA\u2019s journey in deploying agency banking in Africa over the past four years.<\/p>\n","protected":false},"author":392,"featured_media":39631,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[92],"tags":[28,155],"class_list":["post-43345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release-en-ca","tag-fintech","tag-partnerships"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Case Study Details How to Deploy 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