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AGENCY BANKING (VILT)

Start
June 1, 2021 11:00 am
End
June 5, 2021 1:00 pm
Address
Online/Virtual   View map
Phone
+234, 08090546055, 08090546031

162,000.00 inc. VAT

Status

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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 P4PE Institute 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.

Furthermore, this will help in becoming an expert for advice and guidance on strategies for setting up this model, thus offering you added exposure and experience.

The key objective of this Agency Banking training course is to empower professionals to;

  • 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
  • gain 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.

The course covers the following topics critical to help you understand the agency banking model better, including relevant strategies and solutions:

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 inquiry
  • 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 mobilization

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
  • 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
  • Any other professional who would like to know more about the agency banking model

A P4PE Institute Certificate will be provided to participants who attend and complete the online training course.