Criticise banks by using grievance mechanisms and not social media – CIB

President of the Chartered Institute Bankers-Ghana, Patricia Sappor

The Chartered Institute of Bankers-Ghana (CIB) has advised bank customers to be circumspect with their criticism of the sector on social media whenever they have challenges with banks, as it goes a long way to not only affect the sector’s image but also adversely impact the hard-earned confidence regained by the sector after the financial sector clean-up.

According to the Institute, many people are unaware of the grievance mechanisms which have been put in place by CIB, the central bank and individual banks, and turn to tarnishing the sector’s image on social media anytime there is a misunderstanding even though they could resort to these channels to seek quick redress.

“The Institute has observed with grave concern how dissatisfied clients resort to social media to seek redress, which we believe should be minimised. The Institute is willing to throw its weight behind the central bank to create awareness on how disgruntled clients should channel their grievances rather than resorting to social media. The Institute also recommends that banks invest in and ramp-up the education and creation of enhanced awareness among their customers on the complaint mechanisms they have put in place.

“It is imperative that as bankers we continue to exhibit integrity in all our dealings, so as to garner public confidence in our function as financial intermediaries and custodians of the public wealth,” President of the Chartered Institute Bankers-Ghana, Patricia Sappor, said at the 2020 Annual Bankers’ Dinner (Governor’s Day).

CIB Induction

The President reported that a total of 238 students completed the CIB programme and were inducted into membership this year. Also, the number of student members who qualify for the CIB programmes continue to increase year on year: from 49, 59, 67, 159 and 238 in 2016, 2017, 2018, 2019 and 2020 respectively.

Ms. Sappor said it is her wish that all these members will continue to strengthen the financial industry and boost its fortunes to support economic growth.

Changing trends

She further noted that banks worldwide have been undergoing rapid transformation in their business models through innovations in technology and shifts in customer expectations, due to changing trends and especially the new normal.

“The knowledge and application of mega trends in technology are also shaping the global banking landscape, such as:  open banking, also known as ‘open bank data’ through the use of application programming interfaces (APIs); Blockchain and crypto currencies – an invention that is fast-changing our world; Data Analytics for business analysis and decision-making; and responsible banking that advocates for profits with purpose.

“In responding to these new mega-trends, we have embarked on a major curriculum review of the Associate Banker Programme. The new curriculum review will introduce new certification programmes in various fields within the industry, as well continuing professional development programmes of the institute which will help practitioners bridge their knowledge-gap where required to secure their job roles,” Mrs. Sappor said.

Banking training

For her, the CIB believes certain key roles in the banking sector will require practitioners who have undergone the Associate Chartered Banker Professional Education Programme, and therefore appealed for Bank of Ghana Governor Dr. Ernest Addison, the Managing Directors of banks and non-banking financial institutions to encourage their staff to enrol in the CIB programme to build their skills and competencies to meet industry standards and expectations.

She however used the opportunity to commend the Managing Directors and CEOs of all banks for their foresight and boldly investing in and implementing the digital banking agenda, which has evidently brought great convenience in accessing banking services during this COVID-19 era.

Leave a Reply