Wema Bank targets informal retail sector with agent banking in Bauchi

Wema Bank Plc has introduced its agent banking service in Bauchi to deepen its retail footprint across the informal economic sectors of the country.

Agent bank is a cost-effective medium employed by banks to provide basic financial services such as account opening, cash deposit, cash withdrawal, funds transfer, bills payment, airtime recharge, through third parties (Agents).

The bank said it has recruited four agents within Bauchi to support the ongoing retail push by its new branch in the state.

The agents, according to the bank have so far on-board over 500 rural farmers and workers within the informal agric sector of the state as well as those residing in neighbouring cities in the north.

The bank has successfully introduced agent banking services across all geopolitical zones in the country, with over 600 agents (roaming & fixed agents) serving customers.

Last May, the bank launched ALAT, a digital bank that allows you open a fully-functional account without visiting a physical branch.

The bank through the product, encourages savings by putting a 10 per cent interest rate on savings goal.

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