How to win the financial inclusion war
Bank agents for last-mile connectivity armed with better financial technology can be a winning combination
In the last article, we explored the importance of customer centricity, tailored products and customer experience to the success of payments banks. In this piece, we focus on how these products and experiences will reach customers. While technology is changing the way financial services are provided to the underserved and will be critical to success, we believe that the reliance on agents for last-mile banking coverage is likely to continue in the medium term. High-tech will thus need to be combined with high-touch, that is, cost-effective and at-scale agent networks.