In pursuit of ramping up its digital transformation objectives, First Global Bank (FGB) recently announced plans to expand its agent bank network, subject to approval by the Bank of Jamaica (BOJ).

Once approved, this expansion will see the financial instutuition, which is also a subsidiary of the GraceKennedy Group transitioning its Cross Roads, Linstead, Santa Cruz, Hopewell, and May Pen branches to agent locations. This will increase the bank’s agents or First Global Money Link outlets from 14 to 19 locations islandwide.

“A new experience is coming to First Global Bank and this move is a part of our continued effort to improve the overall experience for our customers.

“We launched the agent banking model back in 2018 with a vision of increased financial inclusion, which aligns with the Government of Jamaica’s push to make banking services more accessible to everyone,” stated Radcliffe Daley, chief operations officer (COO), who is now positioned to take up the role of acting president and CEO at FGB, following the departure of Mariame McIntosh Robinson later this month.

In addition to expanding its agent network, FGB also indicated that it will be enhancing its New Kingston and Duke Street locations with new automated teller machines (ATMs) and intelligent automated machines to provide its customers with a more interactive banking experience.

Aiming to bring its banking solutions closer to the community and allowing for more customer convenience, FGB indicated that there will be some adjustments to transaction limits at the new agent locations.

“The withdrawal and lodgement limits are $100,000 and $200,000 per day, respectively. Customers will continue to be able to make credit card payments and check their account balances,” the bank noted.

“We will be advising customers and members of the public in the coming days to ensure that the transitions are as seamless as possible,” Daley said.

As the novel coronavirus pandemic accelerates the pace of digitisation locally and across the banking sector, the move by FGB joins that of other financial institutions, including National Commercial Bank (NCB) and Scotiabank, who have also unleased aggressive digital transformation strategies aimed at increasing access and providing greater levels of financial inclusion.

Ranked as the second smallest of the country’s eight commercial banks, FGB controls near 4 per cent of the market. Up to December 2021 total assets for the financial institution were valued at over $76 billion, matched by net profits in excess of $515 million.