Opuni Highlights Ghana Card Impact On Financial Sector

Julian Opuni

 

Fidelity Bank Managing Director, Julian Opuni, has highlighted the impact of the Ghana Card on the financial sector.

Sharing his perspectives on key issues impacting Ghana’s financial sector during an interview with Oxford Business Group said the Ghana Card has had significant contributions to the financial sector, particularly in enhancing security measures and combating fraud.

He emphasized the card’s state-of-the-art biometric features, real-time data capabilities, and seamless integration with existing systems, as key in promoting accurate Know Your Customer (KYC) compliance and anti-money laundering efforts.

Moreover, Mr. Opuni underscored the card’s role in facilitating digital transactions and mobile banking, heralding a shift towards a more cashless and inclusive society.

He remarked, ‘‘Traditional and financial technology (fintech) institutions can leverage the comprehensive database to offer diverse financial services, promoting cashless transactions.

These advancements contribute to a more inclusive financial ecosystem by removing barriers to entry, especially for the economically disadvantaged. By streamlining the online and in-person account opening process, the Ghana Card provides accessible formal identification, particularly for those in remote areas”

Mr. Opuni reiterated Fidelity Bank’s commitment to financial inclusion as a cornerstone of economic growth and equality.

He outlined the bank’s comprehensive approach, encompassing technological innovation, strategic partnerships, and financial literacy initiatives to extend access to underserved communities.

Mr. Opuni remarked, “A dedicated focus on financial literacy and education programmes ensures that access to services is complemented by informed decision-making. Empowering communities with financial knowledge foster a culture of saving and responsible financial behavior”.

He emphasized the importance of tailoring products for diverse segments, simplifying account opening processes, and leveraging agency banking networks to expand reach, particularly in rural areas.

Mr. Opuni expressed confidence in the country’s financial future, envisioning a collaborative ecosystem where stakeholders work together to offer diverse products and services to previously excluded segments.

With the Ghana Card serving as a catalyst for innovation and inclusion, Mr. Opuni foresees a more secure and equitable financial landscape, poised to drive sustainable economic growth and prosperity.

By Samuel Boadi

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