One of Ghana’s retail banks has launched a borderless financial product

desmond frimpong

May 31, 2018 1:08 PM

The new service allows both customers and non-customers of the Bank transfer money using Cedis (Ghana’s local currency) or US Dollars to any of the countries where Access Bank has presence across the continent including Nigeria, Democratic Republic of Congo, Rwanda, Sierra Leone, The Gambia and Zambia.

In fulfilment of its new strategic objective to become Africa’s gateway to the world, Access Bank, one of Ghana’s leading retail banks has launched a new money transfer service known as “AccessAfrica”, to remove boundaries across Africa with the ease and convenience of moving funds around.

Introducing this new service, the Executive Director for Business Development at Access Bank Ghana, Ifeanyi Njoku indicated that the Bank is continuously pursuing its retail banking strategy by enhancing the efficiency of its electronic banking services.

He said: “Hitherto, you could only send or receive money to and from Nigeria with our Cross border money transfer service, however, this is now a thing of the past, as we have now upgraded our platform to serve millions in Ghana and across the continent”.

Njoku also mentioned that the new “Access Africa” service will eliminate the risk of carrying cash, as well as promote the cashless policy, as users will be able to send money to several destinations in few minutes at any Access Bank’s branch locations.

He conclusively said, “We are rigorously working to create a seamless system for business transactions irrespective of your location in Africa, to make banking services affordable, secure and convenient for everyone. Soon, this service will be extended to other locations within and outside Africa”.

Last year, Access Bank unveiled its new 5-year strategy which is expected to accelerate the Bank’s growth and position it as a leading Bank across its various operating markets by 2022. To achieve this, the Bank hopes to leverage on a Universal Payments gateway to dominate international trade and inter-African payments.

The Bank’s strategy will be underpinned by robust risk management together with high levels of automations, to enhance the compliance and risk functions and drive customer insights. It will also develop an integrated global franchise by strategically positioning itself in key African markets, enhancing collaboration in global financial gateways including London and New York, Asia and the Middle East, and strengthening its trade hubs in India, Dubai and China.

Access Bank Group is made up of eight (8) African markets spanning Sub-Saharan Africa’s three monetary zones, the Far East, Middle East, Asia and the United Kingdom. The Bank will continues to invest in its operations and is poised to become the world’s most respected African bank.

desmond frimpong

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