A Deputy Minister for Information, Kojo Oppong Nkrumah has said that government is working to ensure the timely implementation of the National Identification System to effectively achieve financial inclusion in the country.
“Government is also strongly working on formalizing the economy and we are hoping that as we roll out the national identification system, the digital addressing system and the inter-operability platform, there would be greater ease in getting people aboard various financial platforms” Mr. Oppong Nkrumah said.
Meanwhile, a majority of financial institutions are rolling out tailor-made products they believe will help rope in more customers and reduce the unbanked population.
On his part, the Head of Inclusive and Personal Banking at SIC Savings and Loans, Vincent King Arthur said financial institutions would continue to help push towards government’s agenda of financial inclusion by meeting the needs of customers.
“We believe that in banking, we the bankers are not doing the customer a favor by assisting them to open an account but it’s a service and we need to realize that. When they are bringing in their money we need to pamper them and even hail them so that they feel free banking with us because it’s the money that we bring that makes us who we are,” he said.
He spoke to Citi Business News at the sidelines of SIC Savings and Loans Sikafie launch.
SIC Life Savings and Loans, a subsidiary of SIC Life Company Limited launched the ‘Kiosk Banking’ aimed at providing financial services for the inclusive market.
Dubbed ‘Sika Fie’, the channel is a touch-point for basic banking services such as account opening, cash deposits, withdrawals, bill payment and remittances, using the kiosk and technology as the medium of operation instead of the indigenous brick and mortar.
Starting from Accra, about 40 customized kiosks will be situated at selected places for prospective customers to make transactions.
Once a transaction is made, a notification is sent to the customer through a text message guaranteeing the safety of the money.
By: Anita Arthur/citibusinessnews.com/Ghana