Ghana Commercial Bank (GCB) PLC has propelled its digital banking capabilities to new heights with the introduction of the ‘Recoded’ App.
This innovative application comes loaded with unique features designed to offer a myriad of conveniences and elevate online banking security standards for customers and all Ghanaians.
Distinguishing itself from other digital banking systems in the country, the GCB Bank PLC App stands out for its unparalleled conveniences. Users can effortlessly create instant accounts with the GCB Mobile App, requiring only their Ghana Card and with no initial deposit requirements.
Unveiling the App yesterday at the Accra International Conference Centre (AICC), the GCB Bank PLC Managing Director, Kofi Adomakoh, said the app boasts flexible and secure sign-up options, allowing users to register using their Ghana Card, debit card, or Gmoney.
He mentioned one of its ground-breaking features includes the ability to top up various ECG Prepaid meters, providing a cutting-edge solution to this common need.
In addition to fundamental banking functions, he said, the Recoded App facilitates convenient payment of bills, subscriptions, and fees for over 150 merchants.
“Its user-friendly interface offers a wide array of self-service options, from card management to statement requests and beyond.
“Furthermore, the app enables users to generate prepaid and virtual cards securely, offering versatility for ATM, POS, and online transactions. Remarkably, despite its advanced capabilities, the app maintains a compact size, measuring less than 20MB, setting it apart from other banking applications,” he stated.
Mr Adomakoh noted that the unveiling of the ‘Recoded App’ by GCB Ghana PLC demonstrates its commitment to revolutionizing digital banking experiences, providing not only convenience but also robust security measures.
He said the newly developed ‘Recoded App’ would make banking experience more convenient and secure. He stressed that app will allow customers to access their accounts, transfer funds, pay bills, check balances, and more from their smartphone or tablet.
He gave the assurance that GCB Bank PLC would continue to remain focused on delivering improved value to its customers and other stakeholders.
“This is part of our DNA because we have committed ourselves to being a great partner by the side of our stakeholders through all the changing facets of their lives,” he said
He said, “Technology offers exciting solutions to financial event services hinged on convenience and security”.
Additionally, he said technology offers us alternate channels and thereby an improved coverage and availability. “We will therefore continue to innovate, as well as migrate best global practices in order to offer best-in-class products and services to our customers,” he assured.
For his part, the Governor of the Bank of Ghana, Dr. Ernest Addison, tasked Ghanaian banks to be innovative and creative in their operations to sustain the banking sector. He commended the GCB Bank PLC and its board for designing the ‘Recoded App’ and how far they’ve gone so far as digitising the country’s financial banking system is concerned.
He said the economy was going through some adjustments which called for such innovations and creativity to enable the industry to surmount challenges.
He said the Domestic Debt Exchange Programme (DDEP) undoubtedly affected the banking sector last year, but the banks’ performance in the first half of this year looked promising.
He said to cushion the banks, the BoG had granted some temporary regulatory reliefs to them to minimise the effect of the debt restructuring and with the expected operationalisation of the Ghana Financial Stabilisation Fund, provide support for the banking sector.
The BoG Governor said banks whose capital levels had dropped below 10 per cent minimum had been advised to provide capitalisation plans for review by BoG.
Despite the challenges, he said GCB Bank PLC had continued to serve the banking needs of large corporations, parastatal companies, small and medium enterprises (SMEs) as well as individuals to keep their businesses running.
He congratulated shareholders of GCB Bank PLC on agreeing for the bank to raise additional GH¢1 billion to meet the regulatory capital requirement to enhance its bill making capacity and take advantage of opportunities available to it.