Agency Banking in Uganda, a business case for Financial Inclusion

Over the Last 10 Years, Banking has changed from being about visiting the bank to being the act of performing a banking transaction, wherever you are.

However Financial inclusion still remains a key challenge in Africa. Agency Banking enables banks to extend their services affordably through a branch network of authorized agents. Eliminating the key reason most of the unbanked rural populations do not have an account.

Banking Anywhere, the Now!

In Uganda, the Eclectics Agency Banking Solution now powers over 1 million monthly customer transactions of more than USD $250,000 monthly. These include Cash Deposits, Withdrawals, Bill Payments, School Fees Payments, Social Security & Local remitance fees.

Partnering with more than 20 Banks we have a growing & consistently, well trained agent network of over 10,000 agents. A 99.9% uptime guarantee to our partners and complimentary Client Relationship Management (CRM) tool. Strong customer education & monitoring and compliance programs provide a customer experience assurance.

As a bank, Ugandans today choose you by how easily they can access their accounts when they need to, and how much they trust you to solve their financial problems & execute business on their behalf.

We are now shifting to an All-Digital, Low-Overhead, Mobile-First experience where smart digital banking solutions such as having a Mobile Wallet, providing Internet Banking & using Chatbots for fast customer engagement enables you to unlock the power of social media.

In an earlier piece about Open Banking “Only The Most Adaptive to Change Survive” we highlighted that the Banking Industry is now a rapidly changing industry driven by: changing customer expectations, technology and competition from outside the industry. It is not about loans and deposits any more. Customers want Banks that create services that help people as they progress through their lives, as they take care of their financial needs for them in the process.