First Global expands agent location to boost financial inclusion in rural parishes
First Global Bank (FGB) Limited recently expanded its agent network with the addition of two First Global Money Link (FGML) locations in two rural parishes.
The new banking locations were opened last month in Highgate, St Mary and Albert Town, Trelawny.
FGB’s President and CEO Mariame McIntosh Robinson said that the expansion of its services amid the ongoing novel coronavirus pandemic seeks to provide customers with ‘more’ in terms of convenience, products and value.
“We’re expanding to deliver financial inclusion to our communities where a one-size fits all commercial institution does not answer the call of the unbanked or underbanked individual,” she stated in a news release.
The new FGML locations will now facilitate larger customer transactions, allowing for deposits of up to $250,000 and withdrawals of $100,000. Other transactions which can be done at these locations and outside of the traditional banking hall includes: credit card payments and balance enquiries.
“The opening of these locations is integral to a strategic objective to bring FGB’s banking solutions closer to communities all across Jamaica. The banking agent locations give our clients access to essentials including — deposit and withdrawal transactions, credit card payment services using their FGB Visa debit or credit card. In addition, the client will gain access to the other GraceKennedy Financial businesses on offer in the GK ONE locations. This includes: Bill Express, Western Union, FX Trader, GK Proxim for quick and easy same day loans, and insurance products,” added Suzette Dawkins, assistant vice-president of personal and business banking at FGB.
FGB, the commercial banking arm of the GraceKennedy Financial Group, offers a comprehensive suite of banking products and services to its customers. In leveraging the Government’s thrust to build financial inclusion, the financial institution, through its total network of some 13 FGML locations, aims to target a larger cross section of the unbanked and underbanked population especially within the informal sector.
Since the advent of the pandemic last year, financial institutions have been increasing their digital footprint as they engage and utilise new technologies to drive efficiency and to expand operations. According to statistics from the Planning Institute of Jamaica’s (PIOJ) latest economic and social survey released last month, some 791 commercial bank automated banking machines (ABMs) were installed and 45,002 point of sale (POS) terminals made operational across the island up to December 2020.
“Compared with 2019, this represented increases of 4.8 per cent and 12.4 per cent, respectively,” the report stated.
