The banking model was developed in rural and remote areas of Vietnam.

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The State Bank of Vietnam (SBV) amends the rules governing the operation of agency banks to improve access to the banking system. Agency banking is a type of branchless banking that enables traditional banks to expand their branch and service network through authorized agents. The model has arrived in the country in recent years, especially since the government issued the comprehensive national finance strategy in early 2020. According to SBV research, in Brazil, Kenya, Mexico and India, agency banking has become an important tool for expanding access to basic financial services and promoting financial inclusion. Five years since Brazil launched the agents, the network has served 12.4 million new bank accounts. The state bank said the Malaysian Agency Banking in Southeast Asia is using the nationwide telecommunications network to bring the banking services network to customers in rural and remote areas at a low cost. The model also helps Malaysian banks achieve more than 80 percent of the installation costs at the point of service and 60 percent of the transaction costs compared to the traditional bank branch network.

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