Dear readers, the above diagram shows the typical processes one goes through to acquire a customer’s consent to open an account. It is a mutually satisfying experience, but it can be quite tedious for both the staff and the customer. Maintaining the status and keeping the customer delighted with...
“Someone is sitting in the shade today because someone planted a tree a long time ago” Warren Buffet
I wish to dedicate this article to two groups of people: The first group is the Board, Management and Staff of Universal Merchant Bank, (UMB), formerly known as Merchant Bank (Ghana)...
“Money in the bank is like toothpaste in the tube. Easy to take out, hard to put back.” – Earl Wilson.
Ghana is still recovering from the shock of the recent armed attack on a cash van (not a bullion van) which ended up with the killing of the Police...
“Banking is transforming. What a bank will be in 2030 is going to be significantly different from what a bank has been for the past few hundred years.”
…Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth
Quickening the Pace of Digital Banking
Last week we examined some critical training needs that financial institutions...
(managing outsourcing risks)
Last week, I started another series of some tips in managing internal fraud. This was triggered by Bank of Ghana’s publication of the 2019 Banking Fraud Report. Most of the data report was not too new but what hurts is the fact that history continues to repeat...
"Remember that failure is an event, not a person." - Zig Ziglar
(This is a continuation of a series first published in July and August 2014)
The MICR cheque book
In 1959 a standard for machine-readable characters (MICR) was agreed and patented in the U.S. for use with cheques. This opened the...
…a risk management tip
"You make mistakes. Mistakes don't make you." - Maxwell Maltz
Today’s topic is about how employees can cope with the consequences of making mistakes and learning lessons from them and moving on. It is about “rolling with the punches”.
The Meaning of “Roll with the punches”.
According to McGraw-Hill...
Dear readers, last week, I looked at the numerous positives of digitalisation – which has come to stay, but cautioned about the new challenges that employees and employers are facing when its implementation goes overboard and not blended to suit our local environment and community.
Technology has progressed to the...
“Ethics is knowing the difference between what you have a right to do and what is right to do”. Potter Stewart
Last week, I discussed the implications of the new Code of Ethics and Business Conduct recently launched by the Chartered Institute of Bankers, Ghana. It has come at a...
“Assertiveness is the quality of being self-assured and confident without being aggressive. it is a learnable skill and mode of communication”…Wikipedia
Last week, we examined the need for continued assertiveness by bank staff despite the changing scenarios in banking under the new normal. Once again, I wish to emphasize the appreciation...