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HFC Bank Launches Agency Banking

Home Finance Company Ltd (HFC) Bank, Fiji’s only locally owned bank, yesterday announced the launch of agency banking in the country. The agency banking will benefit 66,000 people, including many
31 Mar 2017 09:15
HFC Bank Launches Agency Banking
HFC Board Chairman, Tom Ricketts, HFC General Manager Governance, Corporate and Projects Raj Sharma, UNCDF Executive Secretary Judith Karl, Chandima Gunawardana of Newman Limited, Vodafone Chief Marketing Officer Fiji, Rajnesh Prasad during HFC agency banking agreements exchange ceremony at the Reserve Bank yesterday. Photo: Ronald Kumar

Home Finance Company Ltd (HFC) Bank, Fiji’s only locally owned bank, yesterday announced the launch of agency banking in the country.

The agency banking will benefit 66,000 people, including many rural women and youths.

The service would also allow its customers to carry out transactions via mobile phones through the Vodafone M-PAiSA agent network, or through Vodafone’s point of service (POS) machines available in more than 1,000 outlets around Fiji through an extensive agent network (non-bank retail outlets offering banking and payment services.

HFC Bank Chairman Tom Ricketts said: “The services will include withdrawals, deposits, funds transfer, payments and point of sale purchases. In addition, the agency platform will be used for account opening and lodging of loan applications, a standout feature different from other agency banking models.

“It is always about our customers! We understand customers greatly value convenient banking to suit their lifestyle. Hence, it is imperative that HFC Bank align and tailor our financial solutions offering and services to match the lifestyle and needs of our customers”

“Customers will be able to easily open and maintain a bank account from their neighborhood convenience stores that are Vodafone retail outlets, reducing the need to travel to cities and towns to access financial services,” he said.

Executive Secretary of United Nations Capital Development Fund Judith Karl launched the new financial service.

 

She said that the agency banking is a potential game-changer for financial inclusion in Fiji.

This service is expected to be fully operational from July this year.

Feedback:  selita.bolanavanua@fijisun.com.fj



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