{"id":610683,"date":"2019-04-27T06:44:46","date_gmt":"2019-04-27T06:44:46","guid":{"rendered":"<br><div>\n<p class=\"floatLeft\">Business News of Saturday, 27 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>www.ghanaweb.com<\/p>\n2019-04-27\n\n<div class=\"article-left\">\n<p class=\"article-image\"><img src=\"https:\/\/cdn.ghana-mma.com\/2019\/04\/206"},"modified":"2019-04-27T06:44:46","modified_gmt":"2019-04-27T06:44:46","slug":"adopt-digital-banking-or-risk-losing-financial-revenue-experts-warn-banks","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/27\/adopt-digital-banking-or-risk-losing-financial-revenue-experts-warn-banks\/","title":{"rendered":"Adopt digital banking or risk losing financial revenue \u2013 Experts warn banks"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"floatLeft\">Business News of Saturday, 27 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>www.ghanaweb.com<\/p>\n<p>2019-04-27<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/20608246.295.jpg\" alt=\"Amar Hari \" title=\"Amar Hari \" width=\"295\" height=\"162\" \/><span class=\"play-icon\">play video<\/span><span class=\"image_caption\"><span>Chief Executive Officer of IPMC, Amar Hari<\/span><\/span><\/p>\n<\/div>\n<p style=\"clear:right\">Experts have cautioned the banking sector in Ghana to engage in digital transformation or risk losing financial revenues, indicating that it was necessary for local banks to make their services more interactive in other to enhance customer experience.  <\/p>\n<p>Detailing the significance of digital banking, Chief Executive Officer of IPMC, Amar Hari stated that the essence and new wave of banking is all about engagement.<\/p>\n<p>He affirmed that with digital banking people are able to shop, advertise and transact businesses comfortably, making it simple and convenient for customers.   <\/p>\n<p>Mr Amar noted that, Ghana&#8217;s banking sector needs improvement and deploring technology will transform clients&#8217; lives, even if it will ultimately come at a cost.  <\/p>\n<p>\u201cDigital banking today is not just about logging on to your bank through an app on your phone, but its more about the use and experience. As we become more digital we are losing the human touch, the transformation we need to bring is how we can make the user interaction digitally more interactive. Technology needs to be disruptive, technology is not about operating manual processes, it\u2019s about how to improve them, how to make lives better,\u201d he explained.  <\/p>\n<p>Mr Amar, however applauded Telco\u2019s in Ghana for their efforts in making data cheaper for the ordinary Ghanaian to access the internet for business, particularly in the banking industry.   <\/p>\n<p>He said, \u201cTelco\u2019s are doing a great job in the Ghanaian market. Most of the Telco\u2019s are working on loses or cost to cost because technology is expensive. To bring the latest technology, bringing the prices down is not easy for the telco\u2019s but we see that the competition in Ghana is driving the prices of data down. These prices will go further down as consumers start using data in their daily lives.\u201d  <\/p>\n<p>Speaking at a summit Friday, April 26, 2019, Mr Akinsope Roberts of Digital Solutions, EY \u2013 West Africa also disclosed that 35 percent of financial services are at risk globally.  <\/p>\n<p>This, he said is as a result of the activities within the banks especially in Ghana which had about 0.4 growth in equity.  He advised digitally transformed banks to protect their institution with cyber security, because \u201cthe more digital you get the more risk you expose yourself to\u201d. <\/p>\n<p>Mr Akinsope observed that though traditional banks are catching-up with the modern world, it is about time they lead the innovation that is happening across the world.  <\/p>\n<p>He said according to a consumer banking sector survey, \u201cGlobally, about 35 percent of financial services revenues are at risk and most of this is from banking. 26 percent only from savings, lending and payments, with 70 percent of banks in Ghana in the transformation process.  <\/p>\n<p>Some banking executives are quite positive about the recovery, he advised Ghana to engage in digital banking though digital transformation comes with its cost, it is more simple and easier for consumers.  <\/p>\n<p>The event was organised by Infosys Finnacle in collaboration with IPMC on the theme: \u2018Accelerate Digital\u2019.<\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Saturday, 27 April 2019 Source: www.ghanaweb.com 2019-04-27 play videoChief Executive Officer of IPMC, Amar Hari Experts have cautioned the banking sector in Ghana to engage in digital transformation or risk losing financial revenues, indicating that it was necessary for local banks to make their services more interactive in other to enhance customer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":610684,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-610683","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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