ADB plans more investments in digital banking

File photo The Agricultural Development Bank (ADB) is committed to investing more in digital banking products and poised to spearhead agriculture revolution through its digital banking system, Managing Director of the Bank, Dr John Kofi Mensah, has stated.

He said that formed part of the bank’s strategy to expand financial transactions in the country’s agricultural sector.

At the ADB Digital Banking Breakfast Summit in Accra, he said: “Today, online banking has emerged as a major channel to supplement face-to-face banking, so the ADB is doing its best to adapt new technology to provide up-to-date services through several channels to aid customers make online payments, purchase airtime and transact mobile money services.”

He said the bank had already in the past invested substantially in e-business for customers to enjoy safe, reliable and convenient banking services outside the normal working hours, adding that “our e-business team is working further to enhance the security features on our app to include facial recognition and fingerprint features.”

Digital banking, he noted, remained the game-changer in the industry and expressed the readiness of the bank to explore new products and services to attract new customers.

Spearhead Agric revolution

Dr Mensah also pointed out that the bank was confident of playing the lead role in the revolution in the agricultural financing that would soon be introduced in the agricultural sector.

“The bank is inviting clients to witness the technological advancement in terms of financing activities in the agricultural sector. The electronic platform which has been introduced is able to locate clients easily, facilitate loans, easily measure clients’ ability to repay loans and the platform has also enhanced the communication between the bank and its clients,” he stated.

New digital products

Dr Mensah also noted that the bank had since the start of the year rolled out three new digital products and services, which included the contact-less card, web acquiring service and visa prepaid card to offer clients the best digital banking services for speed and safety.

The Head of E-Business at ADB, Mr Ebo Quayson, also added that the bank had gone beyond providing agricultural financing, saying “now the ADB can boast of the best digital banking products and services on the market.”To make customer services more convenient, he mentioned that the bank had introduced a mobile app and re-introduced the Executive Banking Service to provide unique, fast and superior banking solutions for the public.

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