As the services of Mobile Money expand in the country, the Deputy Managing Director of Prudential Bank, Madam Mary Brown has stated that banks could link their accounts to the platform to maximize its use.
Figures released recently by the Bank of Ghana(BoG) showed that the value of total transactions for mobile money increased by over 100 percent to 13.7 billion cedis for the first quarter of this year compared to the same period of last year.
Speaking to Citi Business News at the launch of a new product called Mobiwise, Madam Mary Brown stated that Prudential Bank is positioning itself to help link its customers accounts to the platform to enhance financial inclusion.
“A lot of our local people are shy or afraid to enter the banking premises. We see it all the time so with the mobile wallet account, if even we encourage them to open a Current Account and it is linked, they don’t have to come to the banking hall, they can do their transactions when they get money on their Mobile Wallet, “ she said.
She stated that with the penetration of Mobile Money into the financial sector, the platform will rather create an avenue for banks to expand their operations.
Touching on the need for all banks to embrace the Mobile Money platform, Mrs. Brown was of the view that Mobile Money has come to enhance financial inclusion.
“I think Mobile Money is not competing with traditional banking, it has rather come to complement what the banks have always advocated for, that is financial inclusion,” she said.
On his part, Mr. Stephen A. Asare, Acting Deputy Managing Director in charge of Finance, Administration and Credit Administration said the bank was poised to introducing more products to meet the needs of customers.
He said technology had transformed the way banking was done adding that the bank had rolled out a number of electronic banking products to make transactions easier for customers.
“At Prudential Bank the customer remain our topmost priority because we are in business because of them,” he said.
Explaining the key features of the new product, Head of e-banking at Prudential Bank Mr. Frank Afari Ankamah said the product links one’s registered mobile money wallet (MTN, Airtel and Tigo) to the traditional account with Prudential Bank which allows the customer to transfer funds from your mobile money wallet to any account within Prudential Bank (wallet-to-account), transfer money from your Prudential Bank account to any registered mobile money wallet on MTN, Airtel and Tigo (account-to-wallet) top-up airtime.
Mrs. Akosua A. Boahen, Head Marketing and Corporate Affairs said the bank would continue to uphold its customer focused values by embracing and leveraging new technologies to meet the changing needs of customers.
She said plans were in place to introduce more exciting products for customers.Brown.
By: Lawrence Segbefia/citibusinessnews.com/Ghana