The world’s digital revolution is now in full flight, gaining steady motion and impacting the way business is conducted in Ghana as in many parts of Africa.
United Bank for Africa (UBA), with a track record of creating innovative products and services, has become a trusted leader among providers of digital financial solutions and services.
With a group-wide culture for innovation and a deep commitment to superior technology, UBA is progressively dominating the Ghanaian digital banking market as a result of the seamless products it strives to provide its customers.
The United Bank for Africa (Ghana) Limited, won the “Best Bank - Product and Services Innovation” for its innovative cash transfer product across Africa - Africash - at the just-ended 16th Ghana Banking Awards.
UBA’s leading product, Africash, allows its customers send and receive cash using a simple real-time process across its 18 subsidiary banks in Africa, as well as its three international locations in New York, London and Paris.
The bank’s dominance in the digital banking space has been demonstrated by its product innovation and the Africash is one of many firsts that the UBA has introduced along with SMS alert, over a decade ago to enhance service delivery.
UBA Ghana is a major player in digital banking, with significant success in the deployment of E-Banking solutions in the public and private sectors, driven by the ground breaking B-Tracking project, and potential card schemes with public, corporate and educational institutions.
UBA worked with relevant stakeholders to deliver the novel B-Tracking platform which provides the Government of Ghana unparalleled access to financial information on all government accounts with various banks within the Ghanaian banking system.
Benefits of platform
The benefit of this platform, which is the first of its kind, is immense for good governance, liquidity management and accountability. In addition to the award won for Products and Services, UBA was also endorsed as 1st runner-up in the Best Financial Performance category which is a testimonial to its financial position at the last accredited financial year for 2016.
UBA Ghana remains a major force in the Ghanaian banking industry with a balance sheet size significantly improved by 55.04 per cent in 2016 and ended the year at GH¢ 3.74 billion.
The significant rise in the bank’s total balance size was mainly funded with a whopping 68.26 per cent increase in total customer deposits and closed 2016 with GH¢ 2.97 billion.
UBA Ghana is a subsidiary of UBA Plc which is one of the leading providers of banking and other financial services on the African continent. The bank provides services to over 14 million customers globally through one of the most diverse service channels in sub-Saharan Africa, with over 1,000 branches and customer touch points, robust online and mobile banking platforms.
UBA Ghana feels that digitally delivering exceptional customer experience via its product innovation research and development would continue to be a pivotal thrust and its most important asset in order to strive to be the best and innovative digitally focused bank in the financial services industry.