{"id":720431,"date":"2019-10-10T15:31:42","date_gmt":"2019-10-10T15:31:42","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/10\/10\/rural-banks-asked-to-take-advantage-of-technology\/"},"modified":"2019-10-10T15:31:42","modified_gmt":"2019-10-10T15:31:42","slug":"rural-banks-asked-to-take-advantage-of-technology","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/10\/10\/rural-banks-asked-to-take-advantage-of-technology\/","title":{"rendered":"Rural Banks Asked To Take Advantage Of Technology"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em><strong>Comfort Owusu<\/strong><\/em><\/p>\n<p>RURAL<br \/>\nAND community banks (RCBs) have been urged to be committed to technology so as<br \/>\nto help them to survive the competition and become sustainable.<\/p>\n<p>\u00a0Executive Director of the Association of Rural<br \/>\nBanks (ARB-Ghana), Comfort Owusu, who gave the advice when she addressed the 18<sup>th<\/sup><br \/>\nNational Managers Conference for RCBs organized by the ARB Apex Bank in the<br \/>\nBono Region, encouraged rural banks to leverage data-driven dynamic decisions<br \/>\nas a tool to enhance proper planning towards growth and expansion. <\/p>\n<p>According<br \/>\nto Ms Owusu, \u201cDigitalisation has found many ways and means of accessing banking<br \/>\nservices, and this calls on us, as rural and community banks, to radically<br \/>\nalter our perspectives and context of business in order to stay strong and<br \/>\nmaintain growth in the face of stiff competition in the banking industry.\u201d<\/p>\n<p>\u00a0She also said \u201cThere is a high price to pay if<br \/>\nwe do not embrace digitisation; however, if we pursue the goal of digitalizing<br \/>\nour operations as rural and community banks, there is much to be gained.\u201d <\/p>\n<p>Mrs.<br \/>\nOwusu said digitization, which encompasses the designing of mobile-based<br \/>\nproducts and services, will enable rural and community banks to enhance the<br \/>\nbanking experience to clients as customers could easily manage large amounts<br \/>\nand make transactions conveniently. <\/p>\n<p>She<br \/>\nsaid that one concrete step to achieving digitalization would be for RCBs to<br \/>\npartner with tech-based companies operating in the banking space. <\/p>\n<p>\u201cThese<br \/>\nfin-techs could periodically impart tech-based products and education to the<br \/>\nmanagement and staff of RCBs which will prepare them for the change ahead.<br \/>\nSecondly, those tech-based products borne out of RCB\u2019s partnership with the<br \/>\nfin-techs should be piloted or experimented to ensure the rolling out of viable<br \/>\nand cutting-edge products and services that is tailored to the need of clients<br \/>\nand can stand competition.\u201d <\/p>\n<p>Furthermore,<br \/>\nshe advised rural and community banks to adopt a framework that will enable<br \/>\nthem to monitor the digitization process, including building a roadmap that<br \/>\nwill outline their digital for the short, medium and long term. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Comfort Owusu RURAL AND community banks (RCBs) have been urged to be committed to technology so as to help them to survive the competition and become sustainable. \u00a0Executive Director of the Association of Rural Banks (ARB-Ghana), Comfort Owusu, who gave the advice when she addressed the 18th National Managers Conference for RCBs organized by the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":720432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-720431","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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