Shared Agent Banking

Primary Target Groups: All

Tools of impact: Technical Assistance

Achievements: 19 SFIs and 10,600 agents on SABS with the platform cumulatively processing 4.6 million transactions valued at UGX 5.14 trillion (USD 1.4 billion) as at the end of 2020.

Synopsis:

FSD Uganda played a foundational role in facilitating the shared agent banking system. We provided technical assistance to formulate the strategy, business model, and pricing, convened several banks interested in joining the platform along with the Uganda Bankers’ Association, provided grants that helped to hire the project manager, oversee the project, develop the training curriculum that set the standards for agent recruitment and management for all banks, and train bank staff in deployment of the solution, all of which led to the crowding in of additional development assistance.

Nearly three years after its inception, 19 regulated financial institutions and 10,600 agents (62% active) are part of the shared agent banking network. As at the end of 2020, the platform has cumulatively processed 4.6 million transactions valued at UGX 5.14 trillion (USD 1.4 billion). The total number of unique customers served between January 2020 and December 2020 was 533,532 (this figure only includes customers who have bank accounts). Thus, the shared agent banking network has significantly contributed to deepening access and enhancing the use and uptake of financial services.

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