In a world the place expertise appears to be permeating each side of life, stakeholders within the banking trade are hopeful of a whole digital transformation in all transactions.
The COVID-19 pandemic, which unexpectedly hit each sector on the earth pressured people and corporations to give you revolutionary methods to outlive.
Most individuals ended up working from dwelling, with a lesser variety of folks trooping into banking halls to carry out transactions for worry of contracting the illness.
Varied banks in Ghana needed to revamp their cellular apps to help and encourage prospects to simply and conveniently entry banking companies, particularly throughout the lockdown interval.
With such digital platforms, prospects might handle their accounts, pay utility payments, ship or deposit money, order cheque books, purchase airtime, and make cellular cash transactions at their comfort, with out setting foot in a banking corridor.
On the twenty fourth Nationwide Banking Convention held in Accra on Tuesday, November 17, 2020, the Chartered Institute of Bankers mentioned they’re trying ahead to extra digital methods of accessing banking companies.
The Head of Banking Supervision Division of the Financial institution of Ghana, Osei Gyasi, requested banks to undertake monetary expertise to drive the banking sector panorama.
“The banking panorama is altering from bodily service supply to digital banking platforms with a fast adoption of economic expertise. That is broadly in step with the federal government’s ongoing digitization program in addition to the Financial institution of Ghana’s monetary expertise drive to help monetary inclusion. It’s a incontrovertible fact that monetary expertise can be a game-changer within the monetary sector and for that matter, banks should scale up digital banking to be future-ready,” he famous.
On her half, the President of the Chartered Institute of Bankers Ghana (CIBG), Rev. Patricia Sappor, mentioned despite the fact that the banking trade is trying ahead to extra digital transactions, there won’t be job losses within the sector.
“Banking is flourishing on expertise. Know-how is flourishing on data. Due to this fact, you want that banking data to develop digital companies and to create the wanted comfort. So I see plenty of banking workers shifting to the fintechs to assist the fintechs develop the wanted platforms to deliver the wanted comfort to prospects. So despite the fact that there could also be job losses, I believe there’s a approach out the place they’d moderately shift extra to the digital platforms moderately than in all probability being within the break and mortar branches,” she defined.
The twenty fourth Nationwide Banking Convention was beneath the theme, “The Altering Banking Panorama: Leveraging the Impression of COVID-19 to be future prepared.”
See photographs of the Convention beneath: