By: Aruna Dumbuya
In a strategic move to provide top-notch digital Banking services to customers, Rokel Commercial Bank has on Friday 1st September, 2023 unveiled Seven new E-Banking Products and Services dubbed E-Banking Baskit at the D’ Bim DBam Hall, Wellington Street Freetown.
Making a presentation before the launching of the new products, Victor Kanu, officer in Charge of RCBank E-Banking Products and services revealed that over the years the bank has worked tremendously to see how they can match and surpass what their competitors are doing.
He acknowledged the current trend of Global Banking which is digital and added that the bank is working assiduously to adopt the status quo. He listed the seven new products of the bank which include: Prepaid Card, Classic Visa Card, Proprietary /Local Card, Cardless transaction on ATM, ATM Terminals, Remittances Money gram, Western Union, RIA, and POS Terminal.
He singled out the Visa Prepaid Card as reloadable and explained that the cardholder can either be an account holder or non-account holder.
He added that the new banking products has given a great opportunity to people that are currently excluded from the financial system in Sierra Leone.
Speaking on the importance of RCBank Debit Visa Classic Card, he pointed out that the card is directly linked to a customers account of the bank, and transactions on the card impact the customers account directly. He further confirmed that the card can be used both Locally and Internationally on any VISA enabled terminal (ATM, POS, and Web/ Online). He affirmed that the card is powered by VISA, a global card scheme in which the bank has a principal License membership.
Richard A.F Ashcroft, the Agency Banking Officer at RCBank, shared remarkable success stories and testimonies from Simkorpor in his Presentation.
He mentioned notable instances of the E-korpor successes where payments were made to 26,000 recipients to NACSA, ECSL (UNDP) 91000 (present), Save the Children 15,000, AFENET 25,000 and NETIPS 10,000 in a short period,, adding that many of those beneficiaries did not have accounts with RCBank.
While transaction limits are currently set at Le15,000 per transaction, Ashcroft expressed the bank’s commitment to further develop the service.
The Managing Director of RCBank, Dr. Ekundayo W. Gilpin described the various E-banking products and services as a sum total of RCBank’s ambitious digitalization programme that has invariably transitioned into fast, reliable, modern, safe and efficient banking services. He recalled that sometimes back when they expressed their ambition to go digital, some people were casting aspersions. He pointed out that many people were calling the Bank they took up in 2017 Provocative names, but because he got a team of like-minded people which are the shareholders, and dedicated staff who work in the institution, they were able to change the narrative.
He further revealed that now is the time to show the world that Sierra Leoneans can emerge as people of Substance who can equal and surpass any other bank in the aspect of digitization.
Addressing the issue of safety and security for customers’ data and finance, he acknowledged that in terms of digitization and Online Processing, there is potential for fraud.
He referenced the recent data Breach of the British Metropolitan Service as a manifestation of potential fraud but allayed the fear of customers about the solutions being put together by the bank to protect their customers cash with one of the best standards globally.
The Board Chairman of RCBank described the occasion as tremendous and not only for the Bank but for Sierra Leone.
He acknowledged that it has not been an Easy Journey but he believes that a journey of a thousand miles begins with a first step. He affirmed that despite reaching their goals with a thousand miles, they would like to go beyond the said thousand miles. He confirmed that the Board of the bank is in a strategic direction, and commends the management and staff that actualize their plans and strategies. He acknowledged that they can have the best of ideas and strategies but the people that implement them are the ones that mainly deserve applause.
He affirmed of the Board commitment to always supporting the management of the Bank.
Representing the Acting Bank Governor, Mr. Jarret, Director of Banking and Supervision at the Bank of Sierra Leone congratulated the Chairman, Managing Director, The Board and Management of RCBank. He pointed out that from the speech of the Managing Director, he was able to see all that RCBank has to offer and map out the path the Bank has journeyed since the time Barclays Bank left the shores of Freetown and was transformed to RCBank, to the present day.
He described the apt speech of the Managing Director, Dr. Gilpin as a chronology of achievements.
Launching the RCBank E-Banking Products and Services (E-Banking Baskit), the Deputy Minister of Finance, Madam Jeneba Bangura, declared herself to be a potential customer of RCBank. She justified that her decision to serve as a potential customer of RCBank is as a result of the significant strides the Bank is making in Sierra Leone.
“I’m really impressed, this is my second event. We were here about three weeks ago where I joined you in respect of your 5 years of digital financial service with Simkorpor and I am here again to launch services and Products. RCBank, you guys are leading. As I stand through both presentations, not only did I know that you guys are providing all these services but I am impressed that you have done great within the shortest possible time and your efforts are exactly into what this government is trying to do which is innovation and digital transformation”, she stated.
She pointed out that digitization is very important especially when it comes to providing services for customers whether in the Banking sector, or revenue collection, stating it doesn’t matter the service one is providing, He affirmed that it is important because it saves money, time and provides security and accountability for customers.
