CAL Bank: Leveraging technology to serve customers better
Digitalization in banking is not just hype about the next big thing in the market. It is a fundamental part of every bank’s agenda as a way to overcome outdated approaches and mismanaged client relationships. Banks around the world are actively pushing digital topics both internally and externally.
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True transformation requires profound fundamental change and letting go of old habits, such as offering complex products and requiring clients to go to branches. It also means cleaning up legacy processes and technologies within the organization. Archaic structures must be broken apart to create a new, nurturing environment. The clock is ticking. Thankfully, CAL Bank has not been left behind the pack. The bank has actually charted the path.
Over the past 25 years, CAL Bank has worked hard to present valued customers with innovative electronic banking solutions which have enhanced the customer banking experience as it delivers convenience.
Currently, customers of the bank need not be present at a CAL Bank branch to transact on their accounts and this has been achieved by investing in its staff and technology.
Internet Banking
CAL Bank’s online banking service, CALNet, enables customers to manage their personal and/or business account(s) from any part of the world on their electronic devices. It offers a range of banking services with timely, accurate and reliable customer updates.
With CALNet, customers are able to download and print statements, set standing orders, view all loans or investment products on her/his account, request for banker’s draft, cheque books and even block cheques or stop standing orders. It is also offers the most convenient ways of facilitating funds transfer or payments to vendors, families or employees.
Like each of our electronic banking solutions, CALNet has built-in security authentication to be verified by our customers. For example, to open or download a statement, the customer is required to enter a personal identification number (PIN). It also has a One Time Password (OTP) which is sent to the customer who sets up the internet banking to enter it before they can proceed.
CAL Electronic Alerts
Decision making by customers on their accounts have been made easier with CAL Bank’s e-alert set up. Every activity on a customer account triggers SMS and Email notifications to the customer. CAL Electronic Alerts is a unique service designed to update customers on their account information to enhance timely decision making. The service offers alerts via SMS and email notifications whenever selected transactions of interest occur on their accounts.
ATMs
Today, with approximately 100 ATMs, customers of CAL Bank can easily access their funds via any CAL Bank ATM. CAL Bank’s ATMs have been configured to enable bill payment, cash withdrawal, funds transfer, purchase of mobile phone credit vouchers etc.
Additionally, the Bank’s Cash-In ATMs enables customers to deposit funds into their accounts without going to the banking halls. Using the Cash-In ATMs, customers can deposit up to 100 notes at a time with no limit to the amount a customer can deposit.
This solution is borne out of the bank’s understanding and the importance it attaches to real time account management such as crediting deposits to clients’ accounts instantly.
Debit Cards
Security of transactions in today’s technological advanced banking world is critical. The Visa range of cards is one of the electronic banking solutions of the bank. To ensure security and convenience of the cards, CAL Bank, as far back as 2012, migrated from Magnetic Stripe Cards to Chip and PIN which provides customers a high degree of security on their debit card transactions.
E-zwich
As an indigenous bank, CAL Bank also supports the national effort to go cashless and, therefore, issues and performs E-zwich related services to the under-banked and unbanked. These include enabling customers to load and transfers funds from and onto their cards, top up their credit vouchers as well as pay utility bills, all from their E-zwich biometric card wallet. Customers can also print their account balance and receive cash back services.
SMS Banking
Another stellar innovation is the SMS Banking which has the tagline, “You can do it anywhere.” This innovation simplified banking via the use of text messaging by simply sending predefined messages to a shortcode.
Using this medium, customers are able to remotely operate on their accounts by transferring funds between accounts, reviewing their last few transactions, hotlist their ATM card when stolen and most importantly top up their mobile phone voucher or send purchase and share the voucher with others.
This service which earned the bank, the ‘Most Innovative Bank’ in banking awards, has been upgraded to CALNet, the Internet Banking service for customers with access to smart devices or internet enabled devices.
CAL Cedi A Day
Our CAL Cedi-A-Day is a wallet based savings solution on MTN Mobile Money aimed at encouraging Ghanaians to cultivate the habit of saving a minimum of GHS1 daily.
This product was developed with deep insights from the customers of the bank seeking practical savings mobile solutions. This means customers do not have to walk into the banking hall just to deposit GHS1 but can do it electronically through their MTN Mobile Money wallets. Customers only have to dial *565*6*2# to activate.
Social Media Banking
CAL Bank believes that a greater number of its customers aged between 18 and 40 could be found on social media. For that reason the bank created its social media presence in 2013 on five social media sites, namely Facebook, Twitter, GooglePlus, LinkedIn and YouTube which it uses to engage and resolve customer complaints.
“For us, customer complaints or interests expressed by our customer is considered unique and hence each customer is contacted directly by our team who are well resourced to handle all complaints as well as continuously informing our customers about our offerings and other banking information,” the Head, Client Services of the bank said.
Live Chat
Closely related to that are live chats that allow customers to engage the client services team from the banks website live chat service.
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Conclusion
To ensure the bank’s systems are up to speed, a robust IT platform has been put in place by the bank. Thus there is a comprehensive monitoring and resolution of system challenges that intermittently arises with technology.
In the view of CAL Bank, the Ghanaian banking landscape in the next five years will drastically change with migration to digitalization and the bank is well-position to remain competitive.