South Africans are taking advantage of banking services in their communities
FNB’s AgencyPlus is helping communities thrive by bringing banking services closer to their spaza shops or local Small and Medium Enterprises (SMEs). Through active agents, underserved communities can conveniently use basic banking services such as deposits, cardless cash withdrawals, eWallet withdrawals, as well as airtime and electricity purchases. This eliminates the need to take a long walk or catch a taxi to visit a bank branch.
Since its launch in September 2023, local agents have facilitated more than R27 million in transactions, making it easier for underserved communities to access safe, convenient, and reliable financial services right at their doorstep.
Currently 5,000 customers are served monthly and nearly 60,000 transactions have been facilitated through 157 active agent stores in communities across the country, including Gauteng, Limpopo, Mpumalanga, KwaZulu-Natal, Western Cape, Northwest and the Eastern Cape.
“Our goal is to make basic financial services accessible beyond traditional branches. This means bringing banking into the daily lives of people in small towns, villages, and rural communities, not just urban centers. These numbers highlight the success of our community banking strategy. And it’s encouraging to see how AgencyPlus is making a real impact, with thousands of customers already using the service to bank closer to home,” says Kabelo Motlhala, Points of Presence Business Development and Growth Head at FNB.
Additionally, FNB’s insights on geographic spread show that Limpopo has the greatest number of AgencyPlus agents with 36 active businesses, followed by Gauteng North with a total of 33. Furthermore, we’ve enabled over 6 000 customers to open bank accounts through our dedicated community advisors who are embedded with select AgencyPlus partners.
“AgencyPlus is proof that innovation can drive financial inclusion. The growth we’re seeing reflects a real need for accessible banking, and we’ll continue to evolve this solution to ensure that no customer is left behind,” adds Motlhala.
A standout feature of the solution is its extended operating hours. FNB’s active agents (ranging from hardware stores, pharmacies, spaza shops to supermarkets and service stations) open their doors as early as 6:00 a.m. and remain operational until 8:00 p.m. This flexibility allows customers to access banking services outside of traditional banking hours, accommodating the diverse schedules of community members, especially as Black Friday and the busy festive season approaches.
Furthermore, AgencyPlus offers several benefits for small and medium-sized enterprises (SMEs) with growth potential. FNB currently works with 1.2 million active SMEs while also supporting more than 250 000 businesses in underserved communities. Our partnership with SMEs can attract more customers to their stores while we help the businesses to manage their cash flow more efficiently as they generate an extra income through the commission paid by FNB for the services the agents provide.
The SMEs that are interested to be onboarded as active agents can visit their nearest FNB branch and ask to speak to their Business Manager or Relationship Manager for further assistance.
“Financial inclusion is at the heart of AgencyPlus. When customers are enabled to transact locally, it saves time, reduces costs, and strengthens economic activity within these communities. This is how we help create opportunities and support growth beyond traditional banking hubs,” Motlhala concludes.
