Retail chains in the geographical expansion of physical channels for financial products in Brazil
Keywords:
Banking, Financial service, Banking correspondents, Partnerships, DistributionAbstract
The research investigates and quantifies the benefit, in terms of gain in reach, that financial institutions have when partnering with retail chains acting as banking correspondents. Geographic location information from eight financial institutions and three retail chains was used in a model built to simulate how the coverage rate of branches and banks, in different municipalities, changes as partnerships are made. Although distribution models based on banking correspondents are used by some financial institutions, there is little discussion on how to measure the effectiveness of the reach and coverage resulting from these partnerships. The proposed model quantifies, through coverage and competitiveness indices, the gain for each new service point introduced to the physical distribution channel. The resulting analyzes indicate that although partnerships increase the institution's exposure, they are not directly related to increasing competitiveness, being more useful to complement the channel in regions where distribution is deficient. The study is configured as a theoretical exercise and expands the discussions on the benefits of using retail chains in the distribution of products and services.
References
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