OmniBSIC Bank MD highlights customer service as key to turnaround

Daniel Asiedu, Managing Director-OmniBSIC Bank, has stated that a crucial determinant of business success moving forward, particularly for financial service providers, will be the quality of their customer service.

He noted that in today’s landscape, where technology allows banks to offer similar services, the competitive edge has shifted toward soft add-ons – with an emphasis on how these products are delivered to customers.

During an interview with B&FT, the experienced banker stressed that OmniBSIC Bank’s turnaround was driven by a keen understanding of this concept. Under his leadership, the bank is on track to achieve its goal of becoming one of the best banks in Ghana.

“Our relentless pursuit of these targets has been the driving force behind our aggressive approach. We acknowledge that words alone cannot guarantee our success; it’s our actions that will make the difference. Consequently, we have made our customers our top priority, and their satisfaction is a testament to our commitment,” the seasoned banker said.

“I often emphasise that the banking landscape has evolved significantly compared to years past. While many banks offer similar products, the differentiating factor lies in how we deliver those services. When you enter our banking hall, we focus on creating a welcoming ambience; training our staff to have a positive attitude and ensuring your overall comfort and convenience in receiving our services. We understand that these aspects matter and are crucial to your experience,” he added.

Under Mr. Asiedu’s guidance, OmniBSIC Bank successfully turned its losses into profitability for the first time in 2021; marking a significant achievement for the institution that was born through a merger between the erstwhile OmniBank and Sahel Sahara Bank in 2019.

By July 2022, OmniBSIC Bank recapitalised to GH¢516million – above the regulatory requirement of GH¢400million. The bank’s financial statements for the second quarter of 2023 revealed impressive growth, with a profit-before-tax of GH¢25.04million compared to a loss of GH¢11.72million in same quarter of the previous year. The bank’s liquidity ratio stood at 91.48 percent and the capital adequacy ratio (CAR) was at 23.2 percent, demonstrating its resilience and strength.

Mr. Asiedu emphasised that this growth was not due to unfounded sentiments on the part of customers, but because the difference in service delivery was evident.

The OmniBSIC helmsman further said that to enhance their service delivery, the bank has placed great emphasis on upgrading their core banking app as well as the ancillary applications which support their services. He acknowledged that achieving their goals will not be easy, but pointed out they have successfully replicated their approach elsewhere.

The experienced banker stated they are committed to building a bank that they believe will ultimately serve as a focal point for all things Ghanaian. He explained that their confidence is not mere rhetoric; it is a conviction they will achieve this by ensuring the happiness of their customers, staff, shareholders, directors, government and the general banking public.

For the customer-centred approach to persist, the bank has prioritised corporate governance and transparency as critical components of its overall strategy. “You know, we acknowledge that good corporate governance is fundamental to earning the confidence and trust of customers and stakeholders,” the bank chief noted.

Consequently, OmniBSIC Bank has reinforced its corporate governance structures and invested in infrastructure to align with the Bank of Ghana’s corporate governance and other regulatory directives. “Also, we have placed a strong emphasis on transparency. We publish regular financial and non-financial information on our website and other platforms to keep our customers, shareholders and stakeholders informed of our progress,” Mr. Asiedu added.