GCB Bank PLC has reinvented digital banking within the nation with the relaunch of its revamped digital banking platform.
The enhanced cellular banking app dubbed ‘Recoded’, the financial institution mentioned, has been painstakingly developed to supply comfort to clients whereas guaranteeing the security of investments.
The new platform comes with distinctive options in comparison with every other banking app in the marketplace, and is an end result of the suggestions from clients’ expertise utilizing the outdated app – representing a marked enchancment on others.
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Functions reminiscent of skill to generate licensed financial institution statements for visa software with any embassy within the nation, ship and obtain cash from any card on the earth, entry loans on-line and pay payments seamlessly make the app a market chief.
Managing Director- GCB Bank PLC, Kofi Adomakoh, in his remarks on the launch in Accra emphasised that this innovation is an illustration of the financial institution’s dedication to offering customer-centric companies to all purchasers, and a testomony to its management within the trade.
“Recoded is now rated as the best app on the Ghanaian market, with over 100,000 downloads. It comes with a lot of menu options to choose from; offering inclusive services, ease of use and is reloaded with rich features,” he mentioned.
He confused that this growth is for the general public to know that administration listens to them because it seeks to mix bodily branches with know-how to increase banking into areas the place the financial institution has no places of work.
“GCB is mindful of all the needs of customers, and is committed to ensuring that no one is left out,” he added.
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The Recoded app, with the tagline ‘new vibe’, takes into consideration comfort, security and safety as cyber-attacks are rising within the banking house.
Executive Head-Retail Banking, GCB, John Adamah, highlighted that the platform is related to the National Identification Authority (NIA) database, enabling on the spot account-creation with out visiting any bodily department of the financial institution.
Other potentialities that include this consists of getting an account with out an preliminary deposit requirement, and covers the difficulty of on the spot transaction receipts to purchasers amongst different options that no different banking app within the nation has.
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In phrases of safety, the app is embedded with secured biometric fingerprint login and face ID. It additionally comes with a complete card service. With this, purchasers can view their Visa and Mastercard particulars on the app, and handle their playing cards with ease on the platform.
“Clients can now request a virtual card without necessarily owning a physical card,” Mr. Adamah indicated.
Bank of Ghana Governor Ernest Addison, in his remarks, counseled the financial institution for the revolutionary answer, which he says leverages development in know-how and varied digital information programs.
“The deployment of technologies such as artificial intelligence and machine learning can also be used by cybersecurity analysts in the banking sector to detect and analyse high-risk incidents. These technologies can investigate threats to search for security flaws and deploy solutions to cyber-breaches in real-time. To this end, banks are encouraged to promote the use of advanced analytics and machine learning to identify and prevent fraudulent activities so as to protect the industry,” he mentioned.
Furthermore, he added that the presence of cyber threats is rising cyber dangers, together with cyber-attacks and information breaches. As banks digitise their merchandise, clients who use such info know-how are additionally more and more dealing with fraudsters and scammers. If not adequately managed, these cyber dangers will outweigh all the advantages that technological developments current.
“Therefore, banks must improve on their cybersecurity infrastructure to enhance resilience against cyber-attacks. Most importantly, financial education and awareness is crucial in protecting banks and customers from cyber-attacks. Banks need to arrange their cybersecurity properly so that the benefits of technology are not outweighed by the threats,” emphasised.
He assured that the BoG will proceed to supply an enhanced regulatory surroundings for the monetary sector.