Republic Bank to add more Ghanaians to the formal sector through digital services

Republic Cashlite The Republic Bank Ghana says, it will add thousands of Ghanaians to the formal sector of the economy with its one-in-all digital services platform, the “Republic Bank Digital Suite.”

The digital suite, launched in Accra on Monday, would provide customers, especially students, entrepreneurs and micro-small and medium enterprises (MSMEs) with banking, investment and insurance services.

The mobile application, compatible with Android and iOS devices, is available on the bank’s online portal and has a USSD function, which would allow non-smart phone users to also access the financial services and products of the bank.

Additionally, users would be able to pay for their Electricity Company of Ghana (ECG) and DSTV bills, and also buy data from their mobile money (MoMo) account or through Surfline data bundle services.

The move, Mr Farid Antar, the Managing Director (MD) of the bank, said was consistent with the Bank of Ghana’s strategy and that of the Government’s ambitions to drive cashlite society.

He said, “Our suite of digital services brings to the ordinary Ghanaian, the student, entrepreneur, the executive, the young and the old, all financial solutions just on their phones, be it smart or ‘yam phone’, your tablets and on your laptops, wherever you are in Ghana or even the corridors of Ghana.

He added that the digital suite would provide good customer records, and promote a digital mindset for Ghanaians to support the achievement of the government’s cashlite and digital economy agenda.

He also said, by leveraging on technology-driven solutions to add value, the platform would provide convenience and facilitate operational efficiency, and enable the bank to achieve its desired growth and profitability.

“People build apps with artificial intelligence in mind, we have built our app with you [customers] in mind. An app that is there for you when you badly need to transfer money to bank or mobile wallet just within seconds,” Mr Antar said.

“When you need to invest to build a better future for yourself and family. When you need that loan to sort out few medical bills and when you need to express love by being there financially for your loved ones, you know Republic mobile app, Republic online or Republic USSD is there for you,” he added.

He said the high mobile money (MoMo) penetration in the country was an evidence of inclusiveness that would support their move to bridge the formal-informal sector economy gap.Data provided by the Bank of Ghana (BoG) has indicated […]

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