The Chief Information Officer of Fidelity Bank Ghana Limited, Mr Tunji Alabi, has urged individuals and businesses to use the electronic channels in banking to reduce the cost of banking services and reap enormous benefits.
He said the cost incurred in banking transactions that were done over the counter was seven times higher than using the electronic channels.
He said the cost of banking would continue to increase if people kept doing bank transactions over the counter.
Mr Alabi said this at the fourth MTN business fair which was held last week in Accra.
He said it was possible to achieve a zero cost on banking services because as competition increased, banks would not be able to charge any money for banking services.
“It’s going to be seen as value added,” he said.
“The only way we can get to that level is if there is efficiency in the way we operate so that the cost to operate becomes as close to zero as possible, and that is what we are working towards by ensuring that we have operational efficiency in everything that we do. The ultimate beneficiary is the customer,” he added.
He said the bank’s long list of successful partnerships with MTN included a cardless MTN Mobile Money cash-out on Fidelity Bank Ghana’s ATMs, a USSD-Mobile Banking App for over 500,000 retail banking customers, Access Point Name (APN) access links with over 500 points of sale, Wide Area Network (WAN) links of 109 ATMs of 80 branches and ISDN link for call centres.
Business fair
The fourth edition of the MTN Ghana Business, which was held on the theme, “Sharing the values of growth for business,” offered a platform where a number of technological products and services that aids business growth and reduces operational expenditures and maximises benefits were showcased.
Some of the products exhibited included; MTN Audio Conference, MTN Cloud Services, 1188 Directory Services, MTN Corporate Voice Package, MTN Eazifon, MTN Vehicle Tracking, MTN APN, MTN SmartCam, MTN Data Center Co-location and hosting services, as well as MTN Mobile Money.
The General Manager of MTN Business, Mr Samuel Addo explained that there was the need for various corporate organisations and SME’s to take full advantage of its latest initiative.
“MTN Ghana’s Business Fair has come to stay. It is the platform that we continue to explore to stay in touch with the business community. MTN finds the need to interact with the business community to establish itself as the place where individuals and organisations in the corporate world meet to take advantage of the varied tailor-made solutions and products that MTN Business offers to optimise the productivity of SME and expand their business,” he said.
The Managing Director for Hellofood, Mr Sofiene Marzouki, also added that the MTN Mobile Money Service had helped win the trust of customers and cut the frustrations of delivery personnel who usually were confronted with issues of seeking change for customers who paid cash.
Source: Graphic