The m-banking agent or customer service point plays a pivotal role in the success of any m-banking distribution network. From the ANM’s perspective, the channel is the first customer and has to be convinced about the proposition so that it can support customer acquisition. According to Jaspreet Singh, Senior Analyst at MicroSave, the three key requirements to build a strong channel are transparency, timeliness and trust. In addition to this, it is important to ensure that the agents receive the required support, training and prompt service.
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Securing the silent: Microinsurance in India-The story so far
Being a sub-segment of the conventional insurance industry, microinsurance has imbibed both the positives and negatives characteristics of the larger industry, specifically in the life insurance segment.
Agriculture value chain financing – Regulations
The paper is focused on the institutional framework governing agricultural finance and various instruments available for financing agricultural development at several stages along a specific value chain. Various enabling policy and regulatory aspects that have evolved over the past decade are then discussed.
Structuring and Managing Agent Network – II
The Briefing Note # 136, “Structuring and Managing Agent Networks – I”, reviewed agent networks managed by MNOs; and contrasted and critiqued the different strategies followed and its impact. This Note focuses on bank managed agent networks – either directly or by outsourcing to third parties. It is quite evident that there is no ‘one size fits all’ in agency networks. The strategy and approach of the same institution might be a roaring success in one environment but a complete disaster in another. Given that a poorly functioning agent network can completely mar the business model, it is inevitable for institutions to have a laser sharp focus on; and to constantly review, re-invigorate and re-invent the agency channel.
Structuring and Managing Agent Network – I
Agent network is a vital constituent of any system delivering electronic/mobile banking services. According to MMU mobile money tracker, there are 140 live mobile money deployments globally and 104 planned, excluding other electronic banking (non-mobile based) deployments. However, very few of these can be considered truly successful. Improper design, structuring and mismanagement of agency networks are often seen as the root cause of failure. MicroSave’s intensive research in agent networks substantiates this and emphasises the need for significantly greater focus and attention on alignment of agent network management with institutional strategy.
This Note, and the next in the series, review and critique the agent networks of diverse organisations in different contexts and geographies. The 7 case studies cover agent networks managed by banks (directly or through third parties) and by MNOs in both bank-led and MNO-led markets.
Training E/M-Banking Agents: What is Missing?
This Note briefly discusses the reasons for negative feedback received often on agent training, the profiles of the agents, and new areas to be considered in agent training programmes. It highlights the three major types of agents: 1. Transactions or cash-in/cash out agents; 2. Sales or full service agents and 3. Super agents. The note further discusses the different training content required by each. It concludes that agent training is an essential foundation of a robust, trusted and ultimately successful agent network.