He made these remarks at the relaunch of GCB Bank’s mobile app, "Recoded,” in Accra. Speaking  at the launch, Dr. Addison said that, as regulators, the BoG was always delighted to see innovative financial services that enhanced the government’s financial inclusion agenda.

He said that banks had, over the years, transformed into technology-driven institutions with optimized operations to improve efficiency as well as provide customer satisfaction. He noted that it was evident that the growth in technological advancements and customer desires would propel banks to become fully digital.

Dr. Addison also said that the use of innovative platforms and services would allow banks to provide simple, easy, and affordable services for the unbanked and banked.

He emphasized that customers were increasingly wary of cyber fraud and urged banking institutions to protect themselves and their customers. He also called for the deployment of artificial intelligence (AI) for research and analysis of potential threats and to provide solutions. He commended the board and management of GCB Bank for once again being a significant player in the digital banking space.

“The BoG is committed to the fight against cybercrime,” Dr. Addison stated, adding that the regulator would contribute to providing a consistent regulatory environment to ensure financial services are expanded to the reach of all Ghanaians.

Mr. Kofi Adomakoh, Managing Director of GCB Bank PLC, said that the launch of the Recoded app, which already boasts 100,000 downloads, was a result of feedback from customers regarding their previous mobile app. “The Enhanced GCB Mobile App offers an unparalleled blend of customer-centric design, robust security measures, and a wide range of features carefully crafted to simplify your banking journey. The app is also ranked four-point-six (4.6) out of five (5) on the App Store,” adding that “this app is a blockbuster app because it has taken into account all of our customers’ needs.”.

Mr. Adomakoh said that the new GCB’s vision was to be the leading digital bank by leveraging cutting-edge technology and customer-centric solutions to provide easy and convenient banking.

He again noted that banking had been placed in the hands of customers to enable them to decide how they wanted to do business, whether on a micro or large scale, through the app.

Interim Board Chair of GCB Bank, Mr. Daniel Kwaku Tweneboah Asirifi said, “GCB is embracing the future proactively by responding to the needs of customers through the launch of the Recoded app."

He noted that their goal was to ensure they made a positive impact on the lives of their customers by providing bespoke solutions and making banking simple and accessible. “The enhanced app is the best on the market, as indicated by the number of downloads, reviews, and comments on social media" he added.

Describing the features of the Recoded app, Head of Digital and Marketing, Mr. Eric Coffie, said that the app offered instant account creation for both customers and non-customers of the bank. Users who do not hold bank accounts with GCB only require their Ghana Card and an active phone number. Users also do not need an initial deposit and can easily receive or transfer money to other banks, as well as request instant receipts on transactions.

Mr. Coffie said that security was paramount to the bank, hence the introduction of secure biometric logins such as finger prints or facial recognition for users. Other features include virtual cards, effortless bill payments, and standing orders, among others