More agent banking services to be provided in Malaysia

More Mlaysian financial institutions are aggressively mapping out strategies to provide agent banking services.

Threr are currently only three financial instituion providing these services, namely, Maybank, RHB Bank and Bank Simpanan Nasional.

Since introducing these services, the three have also reported savings of up to 99% for set-up costs compared to bank branches.

An industry observer said he was confident the number would rise as there were some FIs planning to launch them soon. However, due to confidentiality, he could not disclose their names.

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