Prospects and Risks of City Agent Banking

Abstract

Agent banking is booming in our country, every year it shows a new prospect for the conventional bank to expend its agent banking wings more and more. Now there are 27 banks that run their agent banking divisions and The City Bank is one of the industry leaders. Through this booming period of Agent banking I have make a research paper on Prospects and risks of City Agent Banking. In my research paper I am trying to highlight about the prospects of City agent banking and the different future risk factor of the agent and also is there any impact of Covid-19 on City Agents Banking lastly, suggest some of the solutions to get rid of the problem. In the research, I found City Agent Banking shows prospects in their every product or services. They acquire a huge base of customers, the number of deposits increased dramatically, and the collection of remittance is skyrocketed and other services also doing very good. Moreover, people now find more trust to invest or deposits on City agent banking. However there are some risk factors that The City Agent Banking might face suppose, since all the monetary is transacted by the agent, so there might be some risk factors involved because the agent can’t ensure the necessary security. Moreover, many people are not comfortable with the agent baking process that decreases the number of probable customers. The recent study about the agent banking suggests some of the points that the City Agent Banking implement in their baking activities that will resolve their risk factors and also helps them to secure their prospects in the industry. Like, City Bank is now more focused on educating their probable customer about the positive sight of agent banking. Moreover, City Agent banking is basically follows the centralized concepts, but if the bank decentralize their back office than they can give faster services.