United Bank received an approval to pilot launch the delivery of Agent Banking Service fulfilling the criteria set by the National Bank of Ethiopia including the preparation of business plans, operational policy and procedure manuals as well as risk management policy and procedures.

The idea to commence the service was born out of the need to establish a convenient way to tap the geographically dispersed and hard to reach segment of clientele by going beyond the conventional norm of opening branches. This trend of expanding banks’ outreach by engaging local agents to offer financial services has recently been very popular among banks found in many developing countries including our neighbor Kenya. The use of agent banking using the mobile phone technology to carry out banking transactions led by the M-Pesa system in Kenya is one of the most successful ventures in comparison with the trend seen in other developing African countries.

Consequently, United Bank as part of its ongoing effort to enhance its customers’ convenience and experience across a range of channels, it has taken a new step in reaching out the underserved segment of the population via non-branch outlets – Agents - through Hibir Agent Banking service.

The service will be operational soon via Authorized agents to be recruited by our Bank, upon fulfillment of the minimum criteria stipulated in the guidelines designed for the purpose. The range of services provided by the agents on United Bank’s behalf include: accepting deposits, facilitating withdrawals, handling transfer and processing bulk payment as well as making balance enquiry. This convenient brand of service is designed to achieve a more inclusive financial sector to the wider section of the population at an affordable price.

The service is made to hold all standard features and high security mechanisms that assure customers the best protection with easy to use service experience. Hence, United Bank has made all the preparation to swiftly address any issue that might occur while rendering the service.

It is believed as one of the few bigger private banks in the country serving a large number of individual customers’, corporate firms as well as small and middle market businesses, the bank’s effort made to commence Hibir Agent Banking service will help to develop new functionalities that adds up to convenient customers experience while also boosting the bank’s revenue streams.