Rural Bank launches mobile banking service

The Union Rural Bank, with its headquarters at Awutu Senya in the Central Region, has launched a mobile banking service aimed at mobilising savings at the door steps of clients to increase deposits.

The service, which is being run on a pilot basis at Agona Swedru and Kasoa, is also aimed at increasing the bank’s customer base and to provide loans to businesses.

Mr Abraham Jakalia, Operations Manager of the bank told the Ghana News Agency (GNA) on Saturday after leading a float through the principal streets of Agona Swedru to launch the product.

He said the service would attract no commission from the customers and explained that they would be however allowed to withdraw money after three months.

Mr Jakalia said an estimated 1,500 customers were expected to be reached at Agona Swedru and Kasoa in the first phase of the programme.

He said 80 jobs would also be created at both Swedru and Kasoa.

Mr Jakalia said the bank intended to provide mobile phones to customers on credit whose contact numbers would be kept for regular feedbacks of their transactions.

Mr Jakalia said this would help detect fraud in order to sustain the service.

The Operations Manager said the bank registered 290 customers at Agona Swedru in the first week that the service was introduced.

He said the bank would also intensify efforts at encouraging people to save.

Mr Jakalia said the bank had disbursed a substantial amount to over 200 women’s groups under its micro finance programme aimed at poverty reduction.

Source: GNA