Where brick and mortar banks face a tough time reaching customers, agency banking provides the answer -- by delivering the last-mile financial services to the unbanked. The unique concept has spurred a revolution in retail banking in several underdeveloped and developing countries the world over, creating social entrepreneurs who drive change. This is also a win-win for all. Agency or "branchless" banking allows banks to expand their geographical presence in a cost-effective way, while customers gain from access to regulated financial institutions and agents benefit financially. Read: Citigroup to exit retail banking in India In Bangladesh, the role of agency banking got magnified during the pandemic and the consequent lockdown. All the stakeholders -- the banks, their agents and the underserved population benefitted from doorstep banking. "Through us, a number of people in the villages now deposit their savings in banks rather than local NGOs," said Md Firoze, an agent based in Tangail's Mirzapur. In fact, banks benefit from customers' money as the funds they lend come from deposits. And agency banking fuelled the growth of many banks in the past two years, according to figures available with UNB. Read Nine public sector banks hold 27 percent assets, deposits in banking sector "During the first wave of Covid-19 last year, I disbursed over Tk 67 crore inward remittances to beneficiaries in Mirzapur through the outlet of a private sector bank," he said, adding that adhering to all bank rules "is the biggest challenge". While access to financial resources during the Covid-induced lockdown gave several families the ability to absorb the shock, many banks literally thrived and witnessed substantial growth even during the world's greatest crisis.