Banking Correspondent (BC) Agent incentives – Eko India financial services

• by MSC
• Apr 21, 2022
• 1 min

Incentives play a key role in driving business, motivation, and usage of an agent network manager’s platform. This video looks at a leading FinTech platform—Eko and shares lessons on how the change in its incentive structure impacted its large agent network.

The business correspondent (BC) network in India has become indispensable for last-mile financial service delivery across urban and rural centers. Incentives provided through agent network manager (ANM) platforms are a critical factor that motivate these BC agents to provide quality services at their outlets. The incentives provided to these agents need to be transparent, regular, and reasonable to ensure good business at agent outlets. 

Eko is a leading FinTech platform that saw low motivation among its agents and identified incentives to be one of the major factors for this. 

This video takes you through the journey of Eko’s agents and the role of incentives in their overall business. It looks at Eko’s strategy to improve the incentive structure for its agents with MSC’s support. It captures the impact of changes in Eko’s incentive plans on different agents associated with the platform.