Ecobank Ghana Managing Director, Dan Sackey has said currently 77 per cent of all transactions with the bank are digital.
He told journalists at the just ended Annual General Meeting of the bank that its Ecobank Mobile App is a key driver behind the 77 per cent digital transactions, but other avenues are ATM transactions and internet banking.
“Currently, 895,000 of our customers are registered on our Ecobank Mobile App and over 400,000 of them are very active on the platform because of the convenience it offers,” he said.
Dan Sackey noted that Ecobank customers are increasingly realizing that they do not need to go to the banking hall for simple transactions as checking their account balance or even cash money or pay bills because the Mobile App offer that convenience in the comfort of one home, office or on the go and at any time.
According to him, several customers use the App to pay school fees, utility bills (electricity, water, DSTV), buy airtime, make withdrawals, deposit cash, and even generate account statements without visiting the banking hall.
Ecobank was also the first bank to make it possible for MTN mobile money customers to buy treasury bills with their mobile money wallet via their TB4All product.
He said the bank’s internet banking platform plus the over 250 ATMs spread across country also give customers access to their cash and to banking services at their doorstep.
“It is interesting to note that even in places where we not have physical branches, several people are transacting business with us because they have access to all our digital platforms,” he observed.
The Ecobank Ghana Boss noted that the recent launch of interoperability between mobile wallets across networks, banks accounts and other electronic money platforms points to a shift from banking hall and branch transactions to more of electronic and cashless transaction.
Interoperability allows customers to transfer money between mobile wallets on different networks, between bank accounts and mobile wallets and between electronic money cards and mobile wallets.
“This is why we invested in the Ecobank Mobile App and made it easy for customers to access their existing Ecobank accounts or even open an Ecobank Xpress account on the App and start transacting business with it immediately without visiting a branch,” he said.
He noted customers can also access the App using their Visa Card, MasterCard and Union Pay International card details, adding that there is an Xpress Cash feature on the App, which allows customers to send money to anyone without a bank account by generating an eight-digit e-token.
Dan Sackey said, with the e-token, the receiver can go to any of the over 250 Ecobank ATMs across the country and cash the money easily.
“We are confident that is the way to go to enable Ghana achieve the much touted cashless society. We will still maintain a good number of our branches across the country as strategic touch points for customers but the industry is clearly moving away from brick and mortar branches,” he said.
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