Agency banking is a type of branchless banking that allows the traditional banks to extent their
network of branches and services in a cost –efficient manner through authorized agents.
This channel has gained popularity due to various reasons like product availability, risk management,
financial inclusion and many more. Interswitch supports Stanbic Bank Uganda and dfcu Bank to deliver
agency banking services to the last mile consumer.
The agents are authorized to perform various banking services on behalf of the banks and financial institutions such as.
Cash in
Cash out
Balance enquiry
Bill payments
P2P transfers
Collections for tax, sch fees etc.
Benefits of Agency Banking:
Reduced cost
Increasing customer base.
Enhanced customer experience.