In a strategic move to provide top-notch digital banking services, Rokel Commercial Bank has launched seven new E-Banking Products and Services (E-Banking Baskit) on Friday, 1 September at the D’Bim D’Bam Hall, Wellington Street, Freetown.

By: Aruna Dumbuya

In his Presentation of the new e-banking products and services to the audience, Victor Kanu, Officer in Charge, RCBank E-Banking Product and Services, revealed that over the years they have worked tremendously to see how they can match and surpass what their competitors are doing.

He acknowledged that the current trend of Global Banking is digital and they are working hard to adapt to the status quo. The seven new products and e-banking services he listed are Prepaid Card, Classic Visa Card, Proprietary /Local Card, Cardless transaction on ATM, ATM Terminals, Remittances MoneyGram, Western Union, RIA, POS Terminal.

He described RCBank Visa Prepaid Card as reloadable and the cardholder can either be an account holder or non-account holder, with the denomination in leones. He added that this will give a great opportunity to reach out to all the 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 customer’s account at the bank, and card transactions impact the customer’s 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 testimonials from Simkorpor in his presentation.

He mentioned notable instances of their 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, many of whom 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 digitalisation programme that has invariably transitioned into fast, reliable, modern, safe and efficient banking services. He recalled that sometime back when they expressed their ambition to go digital, some people were casting aspersions.

He pointed out that many people were calling the Bank and they took up provocative names in 2017, 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 this aspect of digitisation.

Addressing the issue of safety and security for customers’ data and finance, he acknowledged that in terms of digitisation 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. He allayed the fear of the audience that they have put together solutions 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 commended the management and staff that actualised 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 affirms the boards’ commitment to always support management.

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, up 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 digitisation is very important especially when it comes to providing services for customers whether in the banking sector, or revenue collection, it doesn’t matter the service one is providing.

He deputy finance minister affirmed that it is important because it saves money, time and  provides security and accountability for customers.