{"id":190858,"date":"2024-06-19T13:20:55","date_gmt":"2024-06-19T13:20:55","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/19\/adapt-to-technological-advancements-to-align-with-banking-operations-bog-to-savings-and-loans-firms\/"},"modified":"2024-06-19T13:20:55","modified_gmt":"2024-06-19T13:20:55","slug":"adapt-to-technological-advancements-to-align-with-banking-operations-bog-to-savings-and-loans-firms","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/19\/adapt-to-technological-advancements-to-align-with-banking-operations-bog-to-savings-and-loans-firms\/","title":{"rendered":"Adapt to technological advancements to align with banking operations \u2013 BoG to Savings and Loans firms \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Governor of the\u00a0Bank of Ghana, Dr.\u00a0Ernest Addison, has called on Savings and Loans companies to adapt to evolving technological advancements to enhance their operations.<\/p>\n<p>He mentioned that this has become necessary as the financial landscape will undoubtedly continue to evolve, and Savings and Loans firms must position themselves well to adapt and navigate these changes.<\/p>\n<p>Speaking at an event to mark the 20th anniversary of Opportunity International Savings and Loans Limited (OISL), Dr.\u00a0Ernest Addison\u00a0said, \u201cSavings and loans companies\u2019 sub-sector can take advantage of these new platforms through collaboration with banks and telecommunication companies to broaden their scope of operations and service offerings for the benefit of our economy.\u201d<\/p>\n<p>\u201cThey must, however, be aware of the issues of cybersecurity and operational risks that arise from them. Cyber attacks such as malware, phishing scams, and ransomware attacks can disrupt operations, compromise systems, and affect data integrity,\u201d Dr.\u00a0Ernest Addison\u00a0added.<\/p>\n<p>He also encouraged Savings and Loans companies to take advantage of the Financial Industry Command Security Operations Centre (FICSOC) set up by the\u00a0Bank of Ghana\u00a0to address these cybersecurity risks.<\/p>\n<p>Dr.\u00a0Ernest Addison, in his concluding remarks, lauded OISL for empowering the ambitions of its customers by providing them with financial solutions and training, which is in line with the\u00a0Bank of Ghana\u2019s policy imperative of financial inclusion.<\/p>\n<p>MA\/NOQ<\/p>\n<p><strong>Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Governor of the\u00a0Bank of Ghana, Dr.\u00a0Ernest Addison, has called on Savings and Loans companies to adapt to evolving technological advancements to enhance their operations. He mentioned that this has become necessary as the financial landscape will undoubtedly continue to evolve, and Savings and Loans firms must position themselves well to adapt and navigate these [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":190693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-190858","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 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Adapt to technological advancements to align with banking operations \u2013 BoG to Savings and Loans firms \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/19\/adapt-to-technological-advancements-to-align-with-banking-operations-bog-to-savings-and-loans-firms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adapt to technological advancements to align with banking operations \u2013 BoG to Savings and Loans firms \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Governor of the\u00a0Bank of Ghana, Dr.\u00a0Ernest Addison, has called on Savings and Loans companies to adapt to evolving technological advancements to enhance their operations. 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