Digital banking, redifining the convenience in banking

BY: Bridget Aazore Yuora
Dr John Kofi Mensah — Managing Director, ADB
Dr John Kofi Mensah — Managing Director, ADB

With an estimated 70 per cent of the country’s population unbanked, most banks are developing strategies to attract as many customers as possible using value added services.

The commonest strategy adopted by banks is to make banking easily accessible and convenient to customers as best as they can.

This has brought about the introduction of many electronic-banking (e-banking) packages onto the market.

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It is in the light of this aggressive competition that the Agricultural Development Bank (ADB), continues to bring forth innovative products to create convenience for customers, as well as to stay on top of the competition.

Speaking to the Daily Graphic, the Head of Marketing and Communications of the bank, Solomon Adu Atefoe, talked about how ADB had been able to keep up with competition ever since the evolution of e-banking in the industry.

E-banking bouquet


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According to him, ADB did not emulate the practice of many banks that bombarded their customers with products they didn’t need and charge them for e-banking bouquet though the customer might require only one service but rather focused on how best they could satisfy each individual customer.

“I don’t think banks should be bombarding customers with a lot of services they don’t need.

At ADB we allow our customers to select what kind of product they need before we offer it to them.

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We have observed that each customer has his/her own peculiar need.

“For example, we have a wide range of electronic banking services but we allow our customers to choose which one they like be it mobile banking (either USSD *767# or mobile app), QuicCash, Visa Card (Debit, Prepaid or Credit), QuicAlert services and QuicNet internet banking, among others.

“A customer may like to use mobile banking but may not be interested in internet banking, so why push it on him with a fixed charge for all E-banking services no matter the preference of the customer? So what ADB does is to actually give to the customer what he wants,” he gave an assurance.

Home-link

One innovative product that the bank has introduced onto the market is the “home-link” account which can be jointly used by customers living outside the country, as well as their local representatives with the utilisation of Visa Card and QuicNet for the account owner and QuicCash (Local Card) for the local beneficiary for withdrawals for projects.

The account conveniently helps the account holder to be able to monitor transactions in and out of the account as opposed to the former practice where local representatives had total control of the account without the knowledge of the substantive account holder.

“Most overseas customers conveniently use our mobile banking app to perform and monitor transactions as though they were resident in Ghana.”

That, Mr Atefoe said, was a move to help address the long-standing problem where people leaving abroad open account here with the hope of doing a project in Ghana and were subsequently duped by family members and friends who had access to the accounts.

“What we do in order to create convenience for our customers is to try to vary our products and add value in terms of pricing and customer service so that customers get superb experience than they would have if they are offered the same service from another bank,” he noted.

Smartphones

ADB Mobile Banking app conveniently serves the needs of customers with smartphones.

Once the customer downloads from their phone stores and gets activated at a branch choosing their preferred usernames, the customer can easily check the status of all account and loans with the bank, transfer to all accounts in Ghana instantly and all mobile wallets, top up airtime, pay for all utilities such as ECG, Surfline, DStv, Gotv, Busy, Vodafone Broadband among others from their smartphones, anywhere anytime.

“Those without smartphones can use our *767# which gives absolute convenience to our customers as they can transfer funds directly from their accounts, check balances, link multiple accounts, purchase airtime from all networks for themselves and others with bonus airtime, pay utility bills such as DStv, Transfer MTN Mobile Money, Vodafone Cash and Tigo Cash, access forex rates among others on their phones.

This presents absolute control and comfort, cuts the hassle and cost of commuting to the banking hall for GHS1 per month,” he added.

The bank has partnered Moneygram to ensure all money remittances from abroad are credited directly to the customer’s bank account in Ghana, instantly.

This gives great convenience to the customers saving commuting time and paperwork.


Moneygram Direct

The service dubbed ‘Moneygram Direct’ or ‘Moneygram to Account’ was successfully launched on May 29, 2018 allowing customers to receive remittances directly into their bank account in Ghana which is on the Ghipss GIP platform.

Customers can further access funds via all ATMs or can easily use ADB’s mobile app to transfer funds received to any mobile wallet/bank account instantly in Ghana.

The near future development of this services will remit directly to all mobile wallets, E-zwich cards among others.

Other products the bank has introduced into the market that has offered convenience to their customers include QuicCash; proprietary cards to access cash in all ATMs in Ghana and also shop domestically, QuicNet; internet banking for both consumer and corporate customers to access funds, statements and issue transfers, Visa Classic Debit Cards, Visa Classic Prepaid Cards & Visa Platinum Credit Cards, EMV secured visa cards to access all Visa ATMs and POS worldwide, which is also equipped with Verified by Visa (VbV) allowing customers to pay fees and make payments online securely, QuicStatements; to receive account statements in emails for free daily, weekly, monthly and quarterly, QuicPay; convenient collections platform for school fees collections, electronic vouchers, ECG payments, DStv Payments, Biometric Passport, WAEC Payments, NLA transactions, MTN Mobile Money and Tigo Cash Transactions offering you a one stop shop for all your payments, QuicAlert; to receive SMS notification on all transactions on your account for total control among others.

He, however, maintained that ADB would continue to develop innovative products which would ensure that customers experienced optimum convenience and continued to receive value-added service, which would in turn attract prospective customers to the bank.