Agent Banking (Hibir Agent Banking)
According to National Bank of Ethiopia (NBE) Directive, agent banking is the conduct of banking business on behalf of a financial institution through an agent using various service delivery channels. Mobile banking is performing banking activities which primarily consists of opening and maintaining mobile/regular accounts and accepting deposits; furthermore, it includes performing fund transfer or cash in and cash out services using mobile devices.
During FY 2014/15 United succeeded to usher in a new service - Hibir Agent Banking - to its existing service line, following an official approval from the National Bank of Ethiopia to render the service, subsequent to a successful piloting phase.
Following the permission of mobile and agent banking, United established a team responsible for the implementation of the service in line with the Bank’s strategic focus on technology led banking which synchronize with its new motto “Beyond Core Banking to Technology Led Excellence”.
The service enables the Bank to use Banking agents that double as a kind of branch to process basic banking services including opening M-wallet account, making deposits and withdrawals, transferring funds as well as sending and receiving money.
United received the approval to go on delivering the service on March 31, 2015.
In its Agent Banking Services, United will provide branchless services banking especially for the unbanked society. To begin with United Bank will provide the following banking service packages usingagents.
· Cash–in (Deposit accepting)
· Cash-out (Withdrawal)
· Person to Person (P2P) Money Transfer
· Send cash to Walk-in customer
· Receive cash by Walk-in customer
· Money transfer between own accounts (internal) that is from physical account to mWallet and vice versa
· Bulk payment dispatch (Bank payment dispatch to customers) – B2P like case of salary, remittance, etc.
· Account opening /Customer registration
· Account balance inquiries
· PIN change
Click here to see >>>>> United Bank's Lists of Registered Agents