Business News of 2014-05-06

Offer innovative banking services — Veep

The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has called on banking institutions in the country to devise innovative ways of offering better services to their customers.
He stated that the world was changing fast and, therefore, it was important for financial institutions to keep themselves abreast of global trends, especially in the area of ICT.
Mr Amissah-Arthur made the call when Ecobank Ghana launched the first digital and financial services advisory centre (Ecobank Direct) in Accra last Wednesday. The centre is designed to enable customers of the bank to benefit from the convenience of “real-time digital transactions”.
The Vice-President lauded the bank for the feat and described its 25 years of existence as a “great example of pan Africanism”. He called on the management of the bank to extend the service to its other branches in the country to ease the pressure that the new service would create at the Labone branch.
The Governor of the Bank of Ghana, Dr Henry Kofi Wampah, noted that technology was becoming the driver of most businesses, especially in the banking sector. According to him, the technology Ecobank had introduced would go a long way to relieve customers of the burden of having to form long queues to access banking services and called on the bank not to only maintain the standard but also sustain it with regular maintenance.
Dr Wampah, however, indicated that adopting technology in the banking sector came with its own challenges, such as failure to meet banking standards, outsourcing which could lead to job losses and loss of data control. He said the central bank had issued directives to banks to regulate their activities in order for the banks not to suffer any losses and called on other banks to emulate Ecobank’s example.
The key features of the facility include a private and enclosed video conferencing suite to access expert advice in real time from staff located at other branches and interactive flat screen television sets to display product information and allow service request, including opening bank accounts.