#BranchLessBanking expansion #Strategy. Recently I am getting many queries from my #Domestic and #International Bank friends on how to grow through branchless banking and compete with #Telcos, as they have better reach and constant customer connect.
My take on this is, do not ‘#Compete but #Collaborate‘. Competition has only led to #bleeding of either or both parties. However if you want to compete, then try any or all of following
Three #Strategies:
Engage with channel partners on Small fixed + commission / Completely commission basis.
Or, upgrade your customers to Digital/Self Mode of transaction and work on that. Else tie up with Telcos and exploit each others’ strength. Creating your own channel will need a lot on:
1.Monitoring 2. liquidity Management, 3. Interaction with partners, and n other things.
Every strategy has its issues and benefits, which I can discuss in a detailed proposal or Session.
However, I would Suggest If your Core business is banking, Work on alliances, Innovate on #Products, Simplify on-boarding & other processes. Anyways banks in future will become warehouse of Services and Compliance monitor, so focus on delivering that right.
Play on your own strength than copying others’.
#AGREE or #DISAGREE Please share your thoughts on this…
Fintech and Financial Inclusion - Ideas and Collaborations. 