GCB Bank PLC has launched its Digital Salary Advance product, setting a new standard for instant access to emergency funds through the bank’s innovative mobile app.
The digital solution is designed to offer salaried workers quick and convenient access to up to 80 per cent of their net salary ahead of payday.
The novel product, the first to be provided by a commercial bank in the country, underscores GCB Bank’s commitment to delivering customer-centric services that leverage technology to meet the evolving financial needs of Ghanaians.
It also reflects the Bank’s broader digital transformation agenda aimed at delivering innovative, accessible, and convenient banking solutions that empower customers.
The event, hosted at the CLOGSAG Head Office in Accra, was attended by key senior executives, including Executive Head of Retail Banking, Sina Kamagate; Chief Financial Officer, Socrate Afram; and Head of Digital and Youth Banking, Emelia Sackey, together with other distinguished guests.
Delivering a keynote address at the launch, Executive Head of Retail Banking, Sina Kamagate, unveiled the innovative Salary Advance product, born from an idea within the bank to ease customer stress and bring convenience.
“Last year, one of our own, Julius Awartey, a Relationship Manager at our Whole Market branch, noticed many customers travelling long distances from their villages on the 15th of every month just to apply for salary advances,” Mr. Kamagate explained.
“This routine consumed fossil fuels—contradicting our ESG commitments—and forced customers to fill out paperwork and wait in long queues,” he added.
Mr. Kamagate continued, “Julius Awartey questioned, ‘Why would we not avail this solution on our mobile app so that our customers can instantly be their own paymasters?’”
Recognising the idea’s potential, the bank quickly assembled a team to develop the solution.
He used the opportunity to thank Mr. Awartey and his wife for the idea that has resulted in another product for the bank.
Reflecting on the significance of the day, Mr. Kamagate said, “This is the day the Lord has made. We have sweated and toiled on this project, and we thank God we are here with our very own customers—those for whom we wake up at dawn and drive to the office to bring out propositions that relieve you of stress.”
“As a bank, we have a project called Hackathon, introduced by the IT team, to find innovative ways to make life comfortable for customers. We encourage staff to pitch ideas that relieve customers of stress,” he explained.
Mr. Kamagate then officially unveiled the digital Salary Advance app: “My job is simple—to tell you what we are doing. Because of the excitement around the launch, from today until July 31st, anyone who applies for the advance will do so at zero interest.”
“We are not trying to ban it. This is GCB’s way of saying thank you for banking with us. Soon, you will see a barcode to scan and apply instantly,” he said.
“Already, people are taking advantage of this offer. The 31st is coming fast, but you are the reason we have unveiled ourselves. Welcome, and thank you for honoring our invitation,” Mr. Kamagate
Also speaking at the launch, the Chief Financial Officer, Socrate Afram, explained the motivation behind the product:
“So why the salary advance? Because life’s urgent moments don’t give notice,” he said. “A loved one might fall seriously ill late at night. A friend could be facing a tough financial situation, and you need to help—but payday is nowhere near. What do you do?”
He emphasised the importance of timely support: “These urgent needs require that your bank be ready to support you—to provide access to funds at the right time and possibly save lives. Because sometimes, delays mean choosing between life and death.”
Reflecting on the old process, he noted: “In the past, getting a salary advance was a long, frustrating process: traveling to a branch, filling out multiple forms, waiting through approvals, and maybe waiting three or four days before the money was credited. By then, the urgency might have passed, and the loan’s purpose forgotten.”
He explained how GCB changed the approach: “At GCB, we asked ourselves: why not change that? Why not put the power directly into the customer’s hands? Why not let people instantly access credit—if they qualify—more conveniently and responsibly?”
Introducing the new solution, he proudly stated: “That’s why we’re proud to introduce the GCB Salary Advance on the mobile app. GCB is the first bank in Ghana to offer a fully instant salary advance with just three simple steps: start the app, apply in seconds, and receive your advance instantly—no paperwork, no queues, no delays, no ‘what-ifs.’ Once you qualify, the funds are yours.”
He also highlighted the customer involvement in creating the product: “This product was designed with customers in mind. Many of them joined us on the development journey, testing, giving feedback, and shaping their experience.”
On special offers, he added: “And here’s something special: anyone who applies between now and 31st July pays zero interest. Not a dime.”
Addressing concerns about security and responsibility, he reassured: “We know some people can misuse credit products, so we built this with a strong sense of responsibility and security. The system is safe, protecting you from unauthorized transactions or fraud.”
On eligibility and pricing, he explained: “Eligibility is based on your salary inflows and credit history, and repayment is tied to your next salary. The pricing is affordable—2.17% per month, or about 26% per year, plus a small 2.5% processing fee. This is one of the lowest rates on the market, especially compared to others charging as much as 14% per month.”
He emphasized the bank’s broader mission, saying, “At GCB, we believe financial inclusion should come at a fair price. We’re not just here to make a profit; we’re here to support our customers.”
He praised the team and thanked the customers: “To our team, thank you for your dedication, innovation, and resilience in making this possible. And to our customers, your support keeps us in business—we are deeply grateful.”
Finally, he reaffirmed the bank’s commitment: “GCB is committed to being a listening bank, building experiences that support your goals, your family, and your future. Together, let’s tap into possibility.”
Also, during the live product demonstration, Emelia Sackey, Head of Digital and Youth Banking, showcased the product’s distinctive features and announced a special three-day offer to waive the interest on applications submitted through the mobile app from July 29th to July 31st, 2025.
This initiative underlines the Bank’s unwavering commitment to providing unrivalled financial and customer-centric solutions.
GCB Bank PLC is a leading player in Ghana’s banking industry, with 184 branches, 340 ATMs, and a host of banking agents spread across the length and breadth of the country.
As Ghana’s premier indigenous bank, GCB Bank has, since its establishment in 1953, been described as a systemic bank with significant contributions to Ghana’s growth in multiple sectors including oil and gas, agriculture, commerce, and others.
The Bank has transformed itself into one of Ghana’s most modern banks in terms of its financial intermediation capabilities, including digital payment platforms, and consequently strengthened its corporate reputation both at home and abroad.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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