{"id":6849,"date":"2014-03-17T19:19:52","date_gmt":"2014-03-17T19:19:52","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=6849"},"modified":"2014-03-17T19:19:52","modified_gmt":"2014-03-17T19:19:52","slug":"fidelity-bank-introduces-agency-banking","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/03\/fidelity-bank-introduces-agency-banking\/","title":{"rendered":"Fidelity Bank introduces agency banking"},"content":{"rendered":"<figure id=\"attachment_6851\" aria-describedby=\"caption-attachment-6851\" style=\"width: 292px\" class=\"wp-caption alignright\"><a href=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/fidelity-boss.png\"><img loading=\"lazy\" class=\"size-medium wp-image-6851\" alt=\"Mr. Edward Effah, the MD of Fidelity Bank.  \" src=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/fidelity-boss-292x300.png\" width=\"292\" height=\"300\" srcset=\"https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/fidelity-boss-292x300.png 292w, https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/fidelity-boss.png 492w\" sizes=\"(max-width: 292px) 100vw, 292px\" \/><\/a><figcaption id=\"caption-attachment-6851\" class=\"wp-caption-text\">Mr. Edward Effah, the MD of Fidelity Bank.<\/figcaption><\/figure>\n<p>Fidelity Bank has officially launched its new banking model concept known as Fidelity Agency banking which allows the bank to use shops and supermarkets as bank agents, known as Fidelity Smart Agents.<\/p>\n<p>In his welcome address, the Deputy Managing Director of the Bank, Mr. Jim Baiden said the revolutionary concept is part of Fidelity Bank&#8217;s financial inclusion strategy to provide Banking services to all, leaving no one behind.<\/p>\n<p>\u201cThe vision of Fidelity Bank in this innovative strategy is to promote financial inclusion by ensuring that anyone who is bankable can receive a full bank account, despite any limitations they may have that previously excluded them from accessing banking services. Fidelity Bank is now offering them a full Bank Account in the shortest possible time and that means in about 5 minutes of contacting any of our dedicated staff or designated retail agents across the Country\u201d<\/p>\n<p>The Managing Director of the Bank, Mr. Edward Effah in his address noted that the introduction of Fidelity Agency Banking is not just another product from another Bank to make money but an important journey by Fidelity Bank to offer all Ghanaians access to formal Banking.<\/p>\n<p>According to Mr. Effah, in the 3 month pilot phase, 130, 000 Accounts have been opened with about 100 Smart Agents and is optimistic that with 500 Smart Agents, the Bank can open over a million Accounts every year.<\/p>\n<p>Mr. Edward Effah noted that the Smart Account is the beginning of the array of products to promote financial inclusion in Ghana.<\/p>\n<p>The 1st deputy Governor of the Bank of Ghana, Mr. Millison Narh, who was the guest speaker lauded Fidelity Bank for the innovative service describing the initiative as a timely policy drive particularly because Ghana in 2011 made financial inclusion commitments referred to as the \u201cMAYA DECLARATION\u201d in Mexico pledging to reduce Ghana\u2019s financial exclusion rate which is currently on the high side.<\/p>\n<p>Statistics indicate that there are about 2.5 billion unbanked individuals around the world and in Ghana; about 70% of the adult population is unbanked.<\/p>\n<p>The Director of financial inclusion at Fidelity Bank, Dr. William Derban said about 1,200 Smart Accounts are being opened every day because of proximity, convenience and the simplicity in opening the Smart Account. He added that other services such as insurance, Credit facilities, and investments will be made available to Smart Account holders.<\/p>\n<p>According to Dr. Derban, Fidelity Bank is partnering with GIZ on financial literacy program to among other things erase the myths people have about banking.<\/p>\n<p>They are also working with CARE and VISA on linking Village Savings and loans to the Bank.<\/p>\n<p>The Director of financial sector division at the Ministry of Finance, Mr. Joseph Chognuru said plans are in the offing to have a national financial inclusion Strategy and lauded Fidelity Bank for taking the initiative by pioneering Agency Banking in Ghana with its Smart Account.<\/p>\n<p>&nbsp;<\/p>\n<p>From: Fidelity Bank<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fidelity Bank has officially launched its new banking model concept known as Fidelity Agency banking which allows the bank to use shops and supermarkets as bank agents, known as Fidelity Smart Agents. In his welcome address, the Deputy Managing Director of the Bank, Mr. Jim Baiden said the revolutionary concept is part of Fidelity Bank&#8217;s [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":6851,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fidelity Bank introduces agency banking - Citi 97.3 FM - Relevant Radio. 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