Distribution is harder than innovation: Phygital banking

As last mile retail distribution points enjoy limelight, it is getting clearer that a pure 100% digital only banking route might not be optimal for inclusive digital financial services in frontier countries.

In this agency banking X.0 model, the Khatabooks and Bukuwarungs will likely intersect bank licensees. Together they will establish these digitalised retail distribution points as physical centres for the unbanked to open accounts, participate in digital commerce using assisted & ‘on behalf of’ services, and over time, learn how to manage and grow their money.

Imagine services of Bukuwarung, Tyme bank and HDFC bank Smarthub coming together in a frontier market.

As Tyme Bank puts it nicely, ‘bank where you shop’.