The Challenges and Experiences of India's Banking Agents and Opportunity's Agent Training

Recognizing the potential of women agents in financial inclusion, Opportunity, in collaboration with its training partners, embarked on a Banking Correspondent (BC) training program designed with female agents - and female customers – in mind. This research brief shares key findings from the study: 

1. General Characteristics of BC businesses: Most Banking Correspondents (BCs) represent a single bank and run the BC business alongside another business.
2. Marketing and Marketing Engagement: BCs attract customers with diverse strategies and prioritize respectful communication and customer care to build trust with customers.
3. Financial Performance and Expectations: BC revenues increased after the training; however, earnings are often not sufficient to cover costs.
4. Response to BC Training: BC Training satisfaction is high, with gender training influential.
5. Demand for Training: BCs are confident, seek more training, and prefer mobile-based, online learning formats.
6. Demand for Investment Products: Some BCs are familiar with investment products and interested in being trained in and offering investment products, but more research is needed to mitigate BC and customer risk.
7. Financial Inclusion and Economic Development: BCs highly value their contribution to financial inclusion and economic development within their communities, and gain respect from being BCs. To better serve marginalized populations like the elderly and less literate customers, BCs likely need better tools and training.
8. Women's Empowerment: The women's empowerment training component was influential in improving BC customer service to women, and the main advice BCs have for female BCs is, “Get trained and be confident.”