Access Bank Ghana Limited has committed itself to transform small, medium-scale -enterprises (SMEs) in the country from their present state large corporate organisations.
Consquently, the bank has introduced three tailor-made products and services; the Liability products; Loan products and Value addition services, to suit the SMEs business cycle, market and operational nuances.
This comes at a time when the SMEs, which have been largely described as the engine of growth, continue to clamour for services from the banks that will help revive collapsing businesses and expand those that require financial and service support.
The Group Head of Corporate Communications and Brand Management of the bank, Mr Matilda Asante-Asiedu, told the Daily Graphic in an interview that under liability products category, the bank would allow SMEs to reduce the cost of their operations through a special account dubbed MPOWer.
Under the ‘MPOWer’ scheme the customer will own and operate a current account that bears interest and does not also attract maintenance fees or cost of transactions (COT) charges.
“The MPOWer Account also gives SMEs free electronic banking services and the ability to secure overdrafts and loans”, she added.
On the loan products, she said: “the bank offers SMEs and other businesses a wide range of financial options to enable them meet their short and long-term financial needs and these include: Letters of Credit; Receivable financing; Guarantees; Advance Payment; Asset Finance and Working Capital”.
Mrs Asante-Asiedu said the value addition services fell in line with the bank’s brand promise of “At Access Bank, we believe that the ‘Customer is King”.
She said the bank was of the view that all its customers need to be treated equally and without prejudice.
“As a result, we will avail all our value addition services to all SME customers to ensure that they benefit fully from the bank’s repertoire of products”, she added.
Consequently, Mrs Asante-Asiedu said the bank had evolved other value addition services to be provided for the SMEs.
These, she said included; fund transfer; cash pick up as well as mobile teller implants and electronic payment and collections platform.
She also said one of the bank’s products, AccessPay, was an electronic payment and collections platform that offered SMEs and other businesses, a secure, simple and cost-effective alternative to cash and cheque payments across multiple banks.
“The payments module makes it a lot easier for organisations to handle their payroll management of employee’s salaries and allowances, as well as vendors and suppliers, right from their offices”, Mrs Asante-Asiedu said.
She added that the collections module, on the other hand, allowed a multi-channel system for handling receivables, using ATM, mobile webs and self-service kiosks.
Story: Charles Benoni OKine