Professional Services firm, PriceWaterhouseCoopers (PWC) is forecasting a longer period for banks to fully transition into the digital space.
According to PWC, it will take more than five years for such an adoption. The firm believes that many customers in the country are still coming to terms with the shift and prefer to physically interact with bank staff.
In an interview with the media after a meeting with stakeholders within the banking sector, the Country Senior Partner for PWC Ghana, Vish Ashiagbor stressed that 95 percent achievement in the digital space in the interim may not be successful.
“The demographics of a country like Ghana are such that we have a large population that is still coming to grips with the whole digital narrative,” he said.
Mr Ashiagbor added: “Beyond that, the reach of the networks. Let me say, if you look across the country, the networks are concentrated in the urban centre, right? But yet you have banking activity being done, for example, in agriculture or cocoa producing areas, for example, or in mining communities.
“Even those, Sometimes, the connectivity issues are less, but digital relies on a network of some kind of…so between education and infrastructure I think it will be difficult to get to the ninety-ninety five per cent mark.”
At the meeting, PwC presented key findings from its Banking Customer Experience (CX) survey and launched the maiden edition of the Ghana Banking Sentiment Index (GBSI).
The survey, which received responses from over 4,700 banking customers, highlighted the need for banks regardless of the market segments they target to invest in technology projects that ensure 24/7 availability and offer frictionless digital channels.
The survey also emphasized the importance of these features, along with having courteous and pleasant employees.
The Country Senior Partner for PwC Ghana stressed the need for banking institutions to prioritize exceptional customer experience in their strategic plans.
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