Banqmoni Launched to Enhance Financial Inclusion

As part of efforts to enhance financial inclusion Banqmoni has partnered GT Bank and Loyalty Insurance to offer banking services to customers through mobile money agents.

The service is currently operational with twenty four banks in the country and it seeks to allow customers make deposits to their bank accounts through mobile money agents.

Speaking to Citi Business News at the sidelines of the launch, CEO of Banqmoni, Yaw Amoah Yeboah was optimistic that the introduction of the service will further drive government’s agenda of financial inclusion in the country.

“We have the vice president saying that in 2018, he will want every Ghanaian to own a bank account in Ghana. Now normally when people are thinking about opening a bank account they think about a whole lot of things like going to deposit money into their account at the bank, but with us that will not exist because you won’t have to queue to go and deposit money into your bank account anymore” he assured.

Explaining how the system works, Yeboah stated that it is made it is made easy and simple for everybody to understand.

“With Banqmoni we are helping people open bank accounts and then deposit just like the mobile money agents because comparatively, people adopted the mobile money agent, the mobile money platform because of convenience. I can just walk and deposit money into my wallet. Why can’t we do the same for banks? So that is where we want to play”.

He added “Once we have the deposit feature of the banking transactions taken care of, we are moving to the withdrawal part and then you can just walk to any mobile money agent. You don’t have to walk to the nearest ATM. That is how we want to innovate for the banking industry”.