Nigeria-based Keystone Bank has launched agency banking proposition, KeyServ, to reach out to customers beyond its conventional branch banking mode.

To launch this service, the bank collaborated with Nigerian Postal Service (NIPOST) and fintech firm i-OneC.

The new service will focus on offering financial inclusion services to under banked Nigerians especially in the rural and semi urban areas.

The initiative is in line with the Central Bank of Nigeria (CBN) Financial System Strategy (FSS2020) goals to improve financial inclusion uptake in the country.

Keystone Bank group managing director and CEO Obeahon Ohiwerei said: “Enabling financial inclusion is our core area of focus and we have partnered with other industry players to deploy digital financial solutions/platforms for improved access to finance; leveraging data to improve the product offerings, personalised and predictive customer service, and uncovering new customer segments.”

KeyServ will provide services such as account opening, bills payment, cash-in, cash-out, ATM services, fund transfers, balance enquiries, and mini statements, among others.

Keystone Bank executive director of corporate banking and South Yemi Odusanya said: “With this scheme, customers, especially in the rural areas, will enjoy unfettered access to banking services.

“As at today, we have about 106 approved agents across the country and already, the services are available at Sabongida-Ora Evbiobe (Edo state); Sabon Gari (Kano); Mirinjibi (Kaduna); Barnawa (Kaduna); Yaba (Lagos) and Ikoyi (Lagos).

“It’s simply convenient, affordable and several NIPOST locations nationwide have been earmarked to feature actively in this initiative.”