Ghana’s banking sector is gradually moving towards achieving slip-free banking to provide superior and convenient services and to excel in competition, Ekow Essabra-Mensah writes.
The convenience of electronic banking (e-banking) has slowly weaned many people off writing traditional cheques. Although some people refuse to rely on electronic banking, there are a variety of benefits to using it over traditional pen and paper.
In recent times the adoption of e-banking has in one way or another greatly benefitted the ordinary customer in general and the corporate world in particular - and this has resulted in the creation of a better enabling environment that supports growth, productivity and prosperity.
This development ensures that banks don't have to keep their branches open 24-hours a day to provide this service. This is one of the biggest advantages of the e-banking platform.
Mr. Solomon Adu Atefoe, Manager, E-Banking Sales & Marketing at the Agricultural Development Bank (ADB), explained that the country’s banking sector is gradually moving towards the adoption of a slip-free banking era wherein the financial sector will undertake transactions without the introduction of paper slips or document.
He again explained that this development is the way forward for the country’s changing face in the banking sector. The new strategy in banking now is electronic banking, wherein banks are assiduously developing technology for online transaction processing in which the customer can go directly into his or her account.
Mr. Atefoe mentioned that the ADB, as part of its innovative corporate strategies, has initiated a number of electronic banking products aimed at embracing the new order in banking system and also ensuring easy banking transactions which are more convenient and have become an acceptable module in global financial transaction.
ADB’s e-banking proposition
A review of ADB’s electronic offerings indicate a very wide range of electronic banking products/services differentiated for specific needs and developed with the goal to provide superior ease and convenience for customer transactions. For the bank, also, the wide range of electronic products are proportionate to the bank’s branchless banking retail strategy, which does not limit banking services to normal banking hours or the Bank’s branches only.
With ADB’s electronic offering, customers are equipped to carry out several transactions on their mobile phones, manage accounts on the Internet, or use any of the Automated Teller Machines (ATM) on the bank’s branch network across the country.
ATM Services (QuicCash)
ADB is one of the first banks in the country to introduce ATM Services onto the Ghanaian market. The Bank currently has over 60 ATM’s strategically located nationwide which offer a comprehensive range of services: such as Cash Withdrawals, Mini-statements, Fast Cash, Personal Identification Number Change, and Funds Transfer within Accounts.
The ATMs are also configured to offer services in such a way as to provide full card security management for the cardholder, thereby creating a personalised approach to banking. This explains why cardholders are capable of changing their Personal Identification Numbers (PIN) at the ATM machine at any point in time, once deemed necessary. This is intended to give customers higher levels of confidence in the security of their transactions through the ATM machine as all transactions are validated using the PIN only known to the customer.
ADB QuicPay
This service allows for single or multiple payments, including school fees mobilisation. It was recently used to pioneer school fees for seven Universities and some Polytechnic institutions. The model is expected to be replicated for institutions that receive regular payments in the ensuing years.
This transaction enables customers to pay school fees and other collections the smart way, using all ADB extensive retail outlets. This is a near real-time payment solution offered to educational institutions and businesses with a large clientele to use all ADB branches to receive payments due them on a single platform. This online payment solution, which is very simple, has been designed to improve the efficiency and transparency of current payment system.
All one needs is a computer and a stable Internet connection to enjoy near real-time viewing of all payments into your accounts. QUIC Pay is a solution to students and institutions.
These services makes ADB a thought-leader in electronic payments as the bank continues to leverage on current and emerging technologies to bring banking closer to its customers.
SMS Alert (QuicAlert) and Email Alert (QuicMail)
ADB’s QuicAlert is another partial SMS-based electronic banking service from the Bank. Customers that subscribe to the QuicAlert service get regular SMS and/or email alerts on real-time basis for selected transactions that are carried out in their accounts. The essence is to update customers regularly on transactions that pass through their accounts, thus making it possible for them to alert the Bank over any fraudulent transactions. Subscribers receive notification on all cash withdrawals, deposits made, loan payments, utility payments and so on.
The Alert service also makes it possible for the customer to receive monthly statements electronically and allows Bank staff to communicate with customers via SMS/email.
This platform allows customers to receive prompt SMS Alerts on any banking transaction anytime, anywhere. Signing up is as simple as providing an account number and phone number.
Services include Receive notifications on credits and debits on account; Notifications when customer’s ATM cards and cheque books are ready; Salary payments notifications and ATM withdrawal notifications and any other.
ADB’s Mobile Phone Financial Services
This platform has been developed to ensure convenience in banking, irrespective of the location at any time, using mobile phone with MTN Mobile Money, TiGo Cash and Zain Zap among others. ADB, in collaboration with most of the telecommunication companies, offers convenient cash transactions in a secured environment using mobile handsets.
Services include Airtime top-up; Funds transfer; Bill payments; and Airtime transfer.
ADB Internet Banking (QuicNet)
QuicNet is an online and real-time banking service, offering both individuals and business a range of banking services and account management tools that are timely, accurate and reliable.
QuicNet enables clients access to their accounts from anywhere in the world to view and verify transactions on accounts. Subscribers can also carry out the following transactions on QuicNet: View Loans and Deposits; Full Statements Download to aid reconciliation; Account Balance & Transaction Inquiry; Own and third-party transfers; Confirm cheque; Cash-in-Transit; Bank Drafts request; Cheque Book request.
To subscribe, clients only need an account with ADB and Internet access and they can begin to gain operational and financial control over their personal or business accounts - either from the comfort of their offices, homes, or anywhere else in the world.
The interface of QuicNet is extremely user-friendly, and clients are easily linked to their accounts to access account information. This way, they can perform a range of banking activities simply, quickly and securely. The service will be officially unveiled for operation by close of the year.
Payments of utility bills
The Payment of Utility Bills service allows customers to make regular bill payments at any ABD Bank Branch, at their convenience. Notable among these are both prepaid and post-paid settlement of the Electricity Company of Ghana, DSTV bills among others.
This facility, which is currently available in some selected regions, will be fully operational among the bank’s branch network located in all the regions in the country.
All these products are aimed at providing the customer with best experience and value for money at ADB.
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