Who really is an Agent?
An agent bank is a bank that performs services in some capacity on behalf of an entity. An agent bank, also known as an agency bank, can offer a wide variety of services for businesses looking to expand internationally. An Agent of Agent Banking is an authorized person by bank/non-bank who has the authority to provide banking services to the individuals via:
- A kiosk set up at a remote place
- An individual who comes to your place with a handheld device equipped to perform banking transactions
- A supermarket/retailers/post offices/NGO’s/specialized microfinance institutions (MFIs) etc
An agent is mostly misunderstood as a mediator/broker who charges money to provide services. However, in the case of agent banking although an agent is a mediator he does not charge anything from the customer.
Benefits of Agent Banks
People and cooperate organizations with banks to support the management of their financial and money exchange needs. These entities rely on an agent bank for managing funds in a deposit account. These banks can also support customers and other banks by facilitating letters of credit or extensions of new credit.
The advantages of an agent bank include the fact that it can operate internationally. These banks allow businesses to expand their geographic presence, as having a bank that knows how to operate in various countries is advantageous. These types of banks make accessing funds while abroad easier.
Where to find Agents Banks?
5000 Agents Banking Jobs are up for grabs across the 23 local government in Kaduna State.