The Governor of the Bank of Ghana (BoG), Dr Ernest Addison yesterday launched the GCB Bank Mobile App with a call on banks to invest and improve on their cyber security infrastructure to enhance resilience against cyber-attacks.
He said the advent of digital technologies was the presence of cyber and information technology breaches which if not adequately managed would outweigh all the benefits that technological advancement presented to the banking industry.
Dr Addison who launched the application and delivered the keynote address said cyber risks including cyber-attacks and data breaches were prevalent.
He said people who used digital products were also increasingly wary of scammers.
He said Artificial Intelligence and machine learning could be used by security analyst in the banking sector to detect and analyse high risk incidence and investigate threats and search for security flaws and deploy solutions to cyber breaches in real time.
He encouraged banks to promote the use of advanced analytics and machine learning to identify and prevent fraudulent activities to protect the banking industry.
“Most importantly financial education and awareness are crucial in protecting banks and customers from cyber-attacks,” Dr Addison stated.
He said in spite of the successes chalked, the banking sector had gaps to address in terms of access to savings, credit and investment.
That, he said presented opportunity for all banks to rise to the challenge and provide innovative solutions to those challenges.
Dr Addison said with a technologically savvy youth, the future of the digitally enabled financial inclusion looked promising but it must start with solutions tailored to the needs of the youth.
“ I believe the GCB Mobile App being launched today will address some of this challenges and do hope this initiative of GCB Bank will serve as a catalyst for more focused innovative solutions to help build a more inclusive and sustainable and resilient economy,” he stated.
He commended the board and management of GCB Bank for once again being a significant player in the digital banking space, saying “I wish you great success in this exciting journey with this new financial product dubbed GCB Mobile App Recoded.”
Dr Addison pledged that theBoG would continue to provide a conducive regulatory environment to ensure that financial services were expanded within the reach of all Ghanaians irrespective of income or location.
The Managing Director of GCB Bank, Kofi Adomako, in his remarks said the launch of the GCB Bank’s enhanced GCB Mobile App was part of activities to mark the 70th Anniversary celebrations under the theme of 70 years of providing unrivalled solutions towards the socio-economic development of Ghana.
He said the GCB Mobile Application was an application that allowed customers to perform both financial and non-financial transactions using a smartphone or a tablet.
He said the launch of the application was in response to feedback received from customers of the bank.
“We gather here today to celebrate a Ghanaian giant undergoing radical change. We are becoming the new GCB Bank. A bank that puts customer experience at the heart of its service delivery. We listened to you and built an app that reflects what you, our cherished existing and prospective customers, expect of the new GCB,” Mr Adomako stated.
He said launching of the new GCB Mobile App, was a symbol of change in the GCB transformation agenda.
“This is the reason why we have taken time to reflect that in the new GCB App and the launch. It reflects our commitment to providing you with the best banking services,” he stated.
Mr Adomakoh said as the new GCB, the ban envisioned being the leading digital bank by leveraging cutting-edge technology and customer-centric solutions to provide easy and convenient banking.
He said the new mobile app places convenient banking in the palms of customers, adding that the enhanced GCB Mobile App offered an unparalleled blend of customer-centric design, robust security measures, and a wide range of features carefully crafted to simplify the banking journey.
Mr Adomakoh encouraged customers and prospective customers to download the application to enjoy convenient banking experience.
The Acting Board Chairman of GCB Bank, Daniel Kwaku Tweneboah Asirifi, pledged that GCB Bank would continue to invest in cyber security infrastructure to protect customers from cyber-attacks.
He also said the bank would continue to invest in innovative digital solutions and products to bring banking convenience to customers.
BY KINGSLEY ASARE
