The Ghana Commercial Bank (GCB)has officially relaunched its GCB Mobile App, aligning with the digitisation drive that Ghana currently advocates, and helping the country’s banking sector evolve.
Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, attended the ceremony, held Thursday, 14th December, and spoke on the importance of banks investing in and enhancing their cybersecurity infrastructure to fortify resilience against cyber-attacks in the rapidly evolving digital landscape.
Noting that the rise of digital technologies has increased cyber-attacks and breaches, the Governor warned that if not adequately managed, these breaches could negatively impact technological advancements in the banking industry.
To address these challenges, Dr. Addison advocated artificial intelligence (AI) usage and machine learning by security analysts in the banking sector. He believed such technologies could be “used by cybersecurity analysts in the banking sector to detect and analyse high-risk incidents.
He further encouraged banks “to promote the use of advanced analytics and machine learning to identify and prevent fraudulent activities so as to protect the industry,” ultimately safeguarding both the banking industry and its customers.
The Governor was optimistic about the future of digitally enabled financial inclusion, particularly with a technologically savvy youth population. He commended the launch of the GCB Mobile App, anticipating that it would offer focused and innovative solutions and contribute to building a more inclusive, sustainable, and resilient economy.
Ending his address, Dr. Addison pledged that the Bank of Ghana would remain commited to providing a favourable regulatory environment to ensure the expansion of financial services available to all Ghanaians, regardless of income or location.
Features of the Recoded App
The GCB Mobile App, dubbed ‘Recoded’ boasts features such as the ability to generate certified bank statements for visa applications with any embassy, seamless international money transfers, online loan access, and easy bill payments, positioning it as a market leader in the banking app landscape.
During the launch, GCB Bank PLC’s Managing Director, Kofi Adomakoh, noted that the mobile app reflects the bank’s commitment to delivering customer-centric services and reinforces its leadership position in the industry.
He revealed that “Recoded is now rated as the best app on the Ghanaian market, with over 100,000 downloads. It comes with a lot of menu options to choose from; offering inclusive services, ease of use and is reloaded with rich features,”
Adomakoh stressed that in developing the app, the bank aimed to combine physical branches with technology to extend banking services to areas without physical offices. He affirmed GCB’s dedication to meeting all customer needs and ensuring inclusivity. The app, tagged with the slogan ‘new vibe,’ recognises the increasing threat of cyber-attacks in the banking sector, and prioritises convenience, safety, and security.
According to the Executive Head of Retail Banking at GCB, John Adamah, the platform is seamlessly connected to the National Identification Authority (NIA) database, enabling instant account creation without the need to visit a physical branch.
Recoded also offers the unique possibility of opening an account without an initial deposit requirement and provides instant transaction receipts among other features not found in any other banking app in the country. In terms of security, the app is equipped with secured biometric fingerprint login and face ID features.
Additionally, it includes a comprehensive card service, allowing clients to view and manage their Visa and Mastercard details directly within the app. Clients can even request a virtual card without the need for a physical card, further enhancing the app’s flexibility and user-friendly features.
The enhanced app is part of GCB Bank’s 70th-anniversary celebrations, reflecting their commitment to customer-centric design and cutting-edge technology in the evolving financial landscape.
