The Chief Executive Officer of Dream Oval, Mr Derry Dean Dadzie, has said the mobile money operations pose as a threat to banking sector. He said if not checked, the growth of mobile money could outpace that of banks, resulting in challenges to the banks’ bottom-lines. He explained on the weekly motivational radio programme, the … Read more
Prudential Bank has introduced another innovative e-banking product known as ‘mobiWise’ which seeks to help customers experience a seamless integration of their bank account with the mobile money wallet platform of their selected telecommunication company. According to the bank, the customer centric electronic banking product allowed customers to be able to perform selected banking transactions, … Read more
Find out about what keeps most global financial executives awake in the ghost hours of the night, and you wouldn’t be startled when automation is most likely to linger on their notepads. On daily basis, global business executives are eager and actively surfing for better and cost effective ways to improve the business operations and … Read more
Banks and telcoms worldwide are rethinking their current business models and sources of revenue in light of Fintech competitors and revolutionary technology. East Africa is a hub for such innovations and Payments East Africa ( https://goo.gl/9v2RKw ) is at the epicentre of this opportunity. Nairobi is the place to be for the second annual Payments … Read more
CHALLENGE: According to a 2015 KPMG report, banking penetration is as low as 36% in some of the larger African economies. SOLUTION: Digital Transformation can drive adoption of banking services by enabling banks to develop and deploy tailored, customer-focused products and solutions. No sector or region is immune to the disruptive power of Digital Transformation. … Read more
The total cash float from the various mobile money platforms to the banks reached GHC703.64million in July this year, representing a 48.3 per cent jump from July last year. Head of Payment Systems Department at the Bank Of Ghana (BOG),Dr Settor Amediku disclosed this at the launch of a mobile banking service by Pan-African Saving … Read more
WestBlue Consulting has adopted Guaranty Trust Bank’s safe, strong and robust payments and collections channels; the GTPay, GTCollect and Bank *737# to provide payments for Import Declaration Forms (IDF) from clearing agents and importers. The partnership with Guaranty Trust Bank (Ghana) Limited is aimed at offering clearing agents and importers additional convenient channels for the … Read more
Much has been said about the role of mobile money in an economy such as Ghana’s. Since its advent onto the scene some seven years ago, the overriding debate has been whether it poses an existential threat or is rather a symbiotic platform for the banking industry. Some prominent figures in the banking industry have … Read more
The Chief Executive Officer of BEIGE Capital, Mike Nyinaku, says the explosion of mobile money services pose no threat to the future of the banking sector in the country. “Mobile money service is a transaction enabler, it is not banking so the traditional importance of banking will not be replaced by the upsurge of the … Read more