Stanbic Bank Ghana has launched a new payment service to enable parents and guardians pay their wards' school fees without visiting the school or the bank.
The new service known as ‘Quick fees’ is an innovative platform using the mobile money or a Stanbic Account.
Subsequently, the bank has also signed a Memorandum of Understanding (MoU) with the Ghana Association of Private Schools (GNAPS) under the new product.
The Head of Personal and Business Banking of the bank, Nana Dwemoh Benneh, told the Daily Graphic at the launch last Tuesday, in Accra, that about 10 private schools had already signed on to the new product.
He said the bank wanted to help improve customer experience by making school fees payment less stressful.
“The product is expected to help strengthen the bank’s commitment to education through its relationship management approach by proactively serving the customers, understanding their needs and then proving appropriate banking solution for the institution, staff, parents and students,” he said.
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He explained that the new platform would provide customers with the opportunity of paying school fees at their comfort using the various mobile money platforms or Stanbic account.
“This platform among other things, ensures secure payment, which means that the school and students are verified before payment. It also helps customers to save time because the customer in question need not queue in the branch to pay school fees,” he said.
Mr Benneh said the bank had designed the school fees service to give parents the ease and convenience of paying their children’s fees from the comfort of their homes and offices.
Accurate accounting systems
The President of the Ghana Association of Private Schools, Mr Eric Appiah, said the new Stanbic Quick Fees would help improve the accounting systems in the schools that sign on to the product.
Going forward, he said, the association with over 5,000 member schools would support the bank in its quest to bring efficiency into the operations of schools in the country.