Introduction

Cash transactions are still common worldwide. Agency banking, as a concept, has become an important part of the system. It is a channel wherein third-party agents conduct transactions or other activities on behalf of financial institutions.

An agency network is a cost-efficient strategy to reach remote, underserved markets. However, despite regulatory and legislative conditions becoming easy, financial institutions still refrain from adopting it.

Technology plays a critical role in enabling small vendors and other businesses to adopt the agency model. Although not widespread, third-party agents have become a critical part of the financial services ecosystem. Thus, understanding the agency model will be beneficial to all financial institutions.

This IRES training course will empower you with a detailed understanding and superior knowledge of the agency banking model. Since this is an unexplored-yet-critical domain, gaining experience will give you an advantage for rising banking sector opportunities.

Duration

5 Days

Who Should Attend

• Senior management of organisations who need to thoroughly understand the agency banking model to make appropriate strategic decisions
• Bankers and other staff responsible to ensure smooth operation with agents or third-party vendors
• Managers and leaders overseeing end-to-end management of the agency banking model
• Shareholders and other future participants/members who would like to know the health of a company before making investment decisions
• Internal and external auditors responsible for regular audits for adherence to required standards and legislative direction
• Legal advisors responsible for helping the organisation in the event of a dispute
• Agents and other third-party vendors interested in being part of the agency banking model

COURSE LEVEL: Foundation

Course Objectives

At the end of this IRES training course, participants will learn:

• thoroughly understand the agency banking model, together with advanced strategies and solutions critical for its success
• apply advanced concepts to define competitive, efficient systems for one’s organisation to ace the agency banking concept
• understand and confidently work with advanced technological setups to achieve operational excellence
• mentor other professionals on best practices related to agency banking
• review existing processes within one’s organisation to check organisational readiness for adopting the agency banking model or enhancing the existing one
• contribute to organisational credibility and development through various steps, thus demonstrating one’s ability to assume core responsibilities, in turn supporting one’s career progression
• gaining the required skills, knowledge and experience to compete with other professionals and stand out in one’s expertise, thus becoming a professional of choice for many organisations, adding dynamism to one’s professional portfolio

Course Outline

Module 1 – Components of the Agency Ecosystem

• Banks
• Service providers
• Agents
• Customers

Module 2 – Types of Agent Banks

• Foreign agent banks
• Investment banks
• Third-party agent banks

Module 3 – Types of Banking Agents

• Pharmacies
• Supermarkets
• Convenience stores
• Lottery outlets
• Post offices

Module 4 – Agency Banking Strategy

• Channel distribution
• Channel innovation
• Cost leadership/effectiveness
• Future position

Module 5 – Agency Banking Solutions

• Cash withdrawal
• Bill payment
• Cash deposits
• Funds transfer
• Balance enquiry
• Documentation collection for debit/credit cards, loan applications and account opening forms
• Collection of bank correspondence and mail
• Mobile banking services

Module 6 – Agency Banking Service Limitations

• Final approval of bank account opening
• Final approval of bank card/cheque issuance
• Loan- and financial appraisal-related activities
• Cheque encashments
• Foreign currency-related activities

Module 7 – Benefits of the Agency Banking Model

• Enhanced customer experience
• Investing in brand evangelism
• Appetite for data
• Achieve sustainable development goals by financial inclusion
• Cost-efficient distribution channel
• Deposit mobilisation

Module 8 – Disadvantages of Agency Partnerships

• Bank reputation at risk
• Dependence on branch support
• Lack of real control
• Risk of low-quality sales methods
• Inadequate understanding of product

Course Administration Details:

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).

TRAINING VENUE

The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION AND AIRPORT PICKUP

Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

Email:[email protected]/[email protected]

Mob: +254 715 077 817/+250789621067

TAILOR- MADE

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 715 077 817/+250789621067

Mob: +254 792516000, +254 792516010 , +250 789621067 ,or mail [email protected]/[email protected]

PAYMENT

Payment should be transferred to IRES account through bank on or before start of the course.

Send proof of payment to [email protected]/[email protected]

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