Utilization of Banking Agent Financial Services to Encourage Local Economic Growth: a Perspective of State-Private Partnerships on Mandiri Agent Brancless, BRIlink, and Bnk46

Abstract

This study analyzes how the use of financial services by banking agents drives local economic growth through state-owned partnerships in three schemes: Mandiri Agen "Branchless", BRILink, and BNK46. With a comparative case study design and mixed methods, data was collected from customer and MSME surveys, in-depth interviews with agents and program managers, and analysis of economic indicators (transaction volume, active account expansion, payment/billing frequency, and MSME turnover). The results show that banking agents accelerate financial inclusion, lower transaction costs, and increase liquidity circulation at the community level. The highest effectiveness appears in partnership models that combine state-owned bank infrastructure, privately owned retail/stall networks, performance-based incentives, and technology support (apps, EDC, QR). The variation in performance between schemes is mainly influenced by agent selection and mentoring, incentive design, payment interoperability, and financial literacy programs. The research recommends strengthening interoperability, targeted literacy in vulnerable segments, and risk-sharing schemes in partnerships to expand local economic impact. The findings affirm that banking agents are an adaptive inclusion instrument as well as a lever for regional economic resilience.