Agency Banking and Bitcoin:
A branch of a bank Photo courtesy: Teknospire
Emerging markets are seeing the emergence of two types of banking services targeting the non-bank segment: branch banking services and Bitcoin. For those who do not belong to the banking and technical fraternity, these words are nothing but Greek and Latin. Questions like what does this mean? It is the same? think about when they come across these terms. Here are the answers to the most frequently asked questions to better understand this scholarship.
• What do Agency Banking and Bitcoin mean?
Branch banking services can be interpreted as a retail or post office that processes customer transactions on behalf of the financial institution or a mobile network operator.
While Bitcoin is a cryptocurrency and an electronic payment system. In other words, it is a decentralized digital currency.
• Do the bank teller and Bitcoin enrich the banking experience?
The bank came to the bank in the form of a bank and bitcoin. They can go to the agent or make the transaction at home with bitcoins and not in the bank. Both enrich the banking experience because they complement each other. The best benefits are obtained by using it together. Bitcoins fill the gap where branch banking services fall short. Such as online transactions and cross-border transactions.
• Will in-office banking services converge to traditional services?
At present, both services are sufficient to meet the needs of those who do not have banking services.
Latest requirements from customers such as:
• loan requirements
• Instant loan transfers
• Overview of transactions longer than 6 months
• Higher transaction limit
This requires banks to facilitate banking agents.
By offering banking services that are responsive to customer needs, in-branch banking services can then be integrated with conventional banking services. Teknospire’s Finx branch and bank payment services are a solution to support bank agents.