KEY POINTS

• UBA Aggregator Sales Structure launched nationwide.

• UBA Aggregator Sales Structure boosts agent incentives.

• This supports financial inclusion.

United Bank for Africa Plc has introduced a new framework for its RedPay point-of-sale and agency banking operations, seeking to tighten coordination with partners and expand financial access across Nigeria.

The lender launched the UBA Aggregator Sales Structure at its inaugural Aggregator Engagement Session in Lagos on Tuesday, positioning the model as a catalyst for scaling its UBAMONI agency banking platform. The event brought together industry aggregators, POS partners and network managers under the theme “POS-itive Impact: Connecting Agents, Merchants, and Customers.”

UBA said the structure is designed to create clearer incentives for intermediaries who recruit and manage agents, while improving service delivery in underserved communities.

UBA Aggregator Sales Structure targets scale

Emmanuel Lamptey, Executive Director Designate for Digital Banking, said the engagement session marked a step toward broadening access to financial services.

“By bringing together our valued aggregators and partners, we are strengthening the ecosystem that connects UBA directly to communities,” Lamptey said.

Head of Digital Banking Shamsideen Fashola also described aggregators as central to the bank’s ambition to build a strong digital collections network. He said the UBA Aggregator Sales Structure provides a scalable and transparent framework intended to boost agent productivity and expand reach.

The bank said the platform supports instant settlement, transaction processing, real-time reporting and services such as card withdrawals, bill payments and pay-with-transfer options.

The structure deepens partnerships

For aggregators, the model offers tools to onboard and supervise agents within UBA’s network, alongside commission incentives and access to a dedicated admin portal that provides visibility into agent performance.

Furthermore, Adetunji Iyiola, Head of Agency Banking, said the framework strengthens collaboration between the bank, merchants and field agents. He said the goal is to enhance service delivery while ensuring partners have operational and financial incentives to grow.

Agency banking has further become a critical channel for extending formal financial services to rural and low-income communities in Nigeria, where traditional bank branches remain limited.

The lender is trying to strengthen its position in the digital payments and agency banking sector with the launch of the UBA Aggregator Sales Structure. This is because banks and fintech companies are competing more and more to get more transactions and include more people.