Accra, July 17, GNA - The Ghana Banking Awards has adjudged Zenith Bank as the Cashless Promotion Bank of the Year and the GCB Bank as the E-zwich Bank of the Year.
The two banks were recognised for their efforts at driving cashless and e-zwich during the prestigious banking awards held in Accra.
The Banking Awards, which is in its 16th year, was instituted by Corporate Initiative Ghana, constituted by corporate bodies in Ghana with the intention to recognise performing banks in different categories and to engender competition.
A few years ago, a category to reward banks that promote e-zwich was introduced and another to recognise banks driving the cashless agenda was added a year after.
The two award categories promoted by the Ghana Interbank Payment Settlement Systems Limited (GhIPSS) was in line with the general policy to promote non-cash forms of payment in Ghana.
Competition for both awards was keenly contested with Standard Chartered Bank and Royal Bank being adjudged the first and second runners up in the category of Cashless Bank Promotion Award while Agriculture Development Bank and Access Bank were the first and second runners up for the E-zwich Bank of the Year category.
Mr Archie Hesse, the Chief Executive of GhIPSS, commended the winners of the various categories and urged financial institutions to continue to work with GhIPSS to drive non-cash forms of payments.
He explained that the banks were in a very advantageous position in the cashless agenda as they have both merchants and individuals as customers.
He said they could work with their customers, who were merchants, to enable them to offer electronic payment channels as well as use incentives to encourage them to patronise those electronic payment channels.
Mr Hesse urged government to come out with policies that would reward financial institutions which were promoting non-cash forms of payments.
He said with some progress being made with a concerted effort by all stakeholders, Ghana could move away from a cash dominant economy.