ENTREPRENEURIAL MARKETING AND BUSINESS SUCCESS OF AGENCY BANKING OPERATORS IN PORT HARCOURT

Abstract

Agency banking is the provision of financial services to customers by a third party (agent) on behalf of a licensed deposit taking financial institution or mobile money operator (principal) (Central Bank of Nigeria, 2013). It represents a cheaper alternative to conventional branch based banking through the use of delivery channels like retail outlets, mobile phones, internet, automated teller machines, Point of Sale devicesetc (Albert &Kungu, 2018).

Agency banking is quickly becoming recognized as a viable strategy in many countries for extending formal financial services into poor and rural areas in that Agency Banking enables clients to open account, deposit, send and receive money through local agents, rather than travelling to the nearest bank branch (Albert &Kungu, 2018)..