United Nations
Information Centre | Nepal
Digital Financial Services in Nepal - Briefing Note 4 : Understanding the Hurdles to Scale Agent Banking in Nepal ( June 2015 )
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Customer perspective is an important factor often overlooked when formal financial institutions plan the delivery of financial services, especially through the agent banking channel. It is important to note that the customer we are talking about here is mainly meeting his/her financial service needs through semi-formal or informal channels.
The products/services offered by these informal institutions have easy acceptance by the customer because of a clear value proposition, lack of a cumbersome process (e.g., sometimes with doorstep delivery) and the customer’s familiarity with these institutional mechanisms through similar community mechanisms (e.g., cooperatives, Dhukti). In an attempt to offer formal services through the use of the agent banking channel and technology, institutions in Nepal need to consider elements of change which, if not managed well, would pose potential risk for service and limit the success of the deployment. These elements usually pertain to processes, technology, marketing/ communication and client retention. Some of these elements are more relevant during the initial stages of roll-out and others when the business matures. These elements become a concern since institutions find it difficult to focus on and dedicate resources to strengthening processes, building proper systems for staff/agent recruitment and training, client awareness, etc. Management of digital financial services can be divided into two broad levels: the client level and the institution level.
Publisher:
UNCDF ,   (2015 )
Type / Script:
Bulletin or Poster in English
Keywords:
BANKING, FINANCE, FINANCIAL SERVICES, FINANCIAL ASPECTS, INVESTMENT BANKING, BUSINESS, MARKETING, NEW PRODUCTS, EXPORT MARKETING, COOPERATIVES, CONSUMER COOPERATIVES, TECHNOLOGY, COMMUNICATION, STAKEHOLDERS, DOCUMENTATION
Thematic Group:
 UNCDF : Capital Development
Thesaurus:
02.11.00  -  Banking And Investment
Reference Link:
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