The Bank of Ghana (BoG) Governor, Dr. Ernest Addison, has emphasiSed the central financial institution’s dedication to preventing cybercrime within the banking trade whereas additionally selling monetary inclusion by means of digital options.
Dr. Addison made the remarks at GCB Bank’s launch of a brand new cell banking software known as ‘RECODED’. He acknowledged that BoG’s monetary trade cybersecurity venture has commenced operation this 12 months, offering intelligence for banks to enhance incident responses to cyber-threats.
“The project will help provide real-time visibility into cyber-attacks targetted at the banking sector,” he defined – noting that whereas progress has been made, gaps stay round monetary entry.
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Dr. Addison mentioned GCB Bank’s new app helps tackle these gaps and meets the wants of tech-savvy youth by means of revolutionary, customer-focused options that may drive an inclusive, sustainable financial system.
However, he cautioned that with digital development comes heightened cyber-risks that may negate advantages if not correctly managed. He cited prevalent assaults like knowledge breaches, urging banks to bolster cybersecurity infrastructure.
“Financial education and awareness is crucial in protecting banks and customers from cyber-attacks,” Dr. Addison suggested, suggesting deployment of AI and machine studying to detect threats and examine potential flaws.
The central financial institution chief reiterated BoG’s dedication to enabling monetary inclusion, praising expertise improvements which have expanded entry to monetary providers past conventional banking.
He recalled previous IT initiatives that reworked banks into tech-driven establishments with optimised, environment friendly operations to raised serve prospects.
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“Advances in technology and customers’ desire for digital financial services will continue to propel banks toward full digitisation,” he predicted, noting cell banking’s comfort has made it indispensable for accessing accounts anytime, anyplace.
Dr. Addison assured the BoG will foster an surroundings the place expertise can broaden monetary providers to all segments of society, applauding GCB Bank’s important position in digital banking and wishing them success.