Mass Market Retail Banking requires a change in how the bank designs and delivers products and services to mass-market, low-banked and un-banked customers. The use and take-up of traditional banking services (deposits, term deposits, savings and investments) remains low in emerging markets. As a result, for low and un-banked customers cash is still King. However, a new focus on transactional revenue using highly digital, low-value, high volume electronic transactions represents an exciting opportunity for banks.
Learn from the successful banks
This Mass Market Banking course is designed to provide participants with a comprehensive understanding of alternative banking distribution and agency banking models. Participants will gain insights into the concepts, strategies, and technologies that enable financial institutions to reach underserved populations and expand their customer base through innovative distribution channels.
What has changed?
Changing demographics, education and wealth distribution has been driven in recent years by the dramatic fall in the costs of technology and stellar advances in Mobile & Digital Innovation. It appears to have awakened new interest from major banking players. They now see the opportunities in new and fast-growth markets, recently suggested by new Solveworx research.
There is a definite requirement for Transactional banking in the provision of person-to-person payments, domestic and international remittances, pre-paid purchases, and payment mechanisms. It represents a great opportunity to engage customers and build a sustainable, profitable business, with services crafted and priced to market requirements.
Modern banks realise that Innovation and Digital matters. However, nearly two decades after the introduction of Branchless Banking and Remote Banking Technology, many banks are still struggling to take advantage of the benefits
This course focuses on the latest retail banking trends and the future of retail banking. It looks at how to best improve banking customer experience through providing mobile money services and integrating state-of-the-art mobile payment platforms
- Understand the concept of alternative banking distribution and agency banking.
- Examine lessons & the experiences of Mobile-only banks from Europe, Australia & the Middle East, including who is getting it right & why
- How to break out of the mobile 'Walled Garden' & why taking your Mobile brand Beyond 'Cards, Accounts & Wallets', into cross-selling, up-selling & Value Added Services are the key to retail distribution success
- Identify the benefits and challenges associated with alternative banking distribution models.
- Analyze the regulatory framework governing agency banking operations.
- Evaluate the potential market and customer segments for alternative banking services.
- Design effective strategies for implementing alternative banking distribution channels.
- Explore innovative technologies and tools used in alternative banking distribution.
- Recognise the key success factors and best practices for agency banking operations.
- Develop risk management strategies for alternative banking distribution models.
- Evaluate the impact of alternative banking distribution on financial inclusion.
- Apply the knowledge gained to develop practical action plans for implementing alternative banking distribution and agency banking in their organisations.