Ghana: Stanbic Bank launches financial management solution for educational institutions

Sep 01, 2017

GNA-Stanbic Bank Ghana has launched its latest Education Offering to present fast easy financial management solution for educational institutions as well as convenience to customers and students in the way school fees are paid.

Dubbed Quickfees, the bank’s education offering, will strengthen the bank’s commitment to education through its relationship management approach by proactively serving the customer, understanding their needs and providing appropriate banking solution for the institution, staff, parents and the students.

Nana Dwemoh Benneh, Head of Personal and Business Banking, said the offering allowed convenience, as customers could pay at their own comfort using their phone from mobile money wallet or Stanbic account.

Besides, it offers secure payment, as the school and students are verified before payment and saves time as there is no need to queue to pay school fees. There is also a trail as there are easy and instant payment references and receipts. Nana Benneh said schools, which signed onto the platform would benefit from a Quickfee platform at no cost to the school, immediate notification of school fee payment and automated reconciliation of school fee payment with Stanbic Bank Account.

Also, it helps eliminate risk of forgeries as school, students, and parents are verified and no need to print bank slips.

“Stanbic wants to help improve customer experience for our clients by making school fees payment and reconciling collections seamless and painless,” he said, adding that, the bank was currently working with the universities and would bring on board second cycle and basic schools. He said prior to the launch, Stanbic was working with some few schools to test run and to make sure “we refine the proposition before going wholesale”.

Nana Benneh said as part of the proposition, Stanbic Ghana would support the financing needs of schools who signed onto the programme with short term loan “to bridge tour financing gap, especially towards the end of term and term loans to enable you fulfil your expansion and construction needs”.

“The bank would also offer asset finance to enable the institutions to acquire buses or any other school assets. The solution also comes with investment options to enable schools to transact, save, and invest using the bank’s secure and reliable solutions. They can also use the bank’s business online secure platform to view statements and make payments.

Meanwhile, Stanbic Bank has signed a Memorandum of Understanding with the Ghana National Association of Private Schools. Nana Benneh signed for Stanbic Ghana while Mr Eric Appiah, President Ghana National Association of Private Schools initialled for the Association.

 

GNA

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