Fidelity Reaches Unbanked

Research has shown that over 60 percent of the Ghanaian population are unbanked and it is believed that these people are mostly deterred by cost, requirements and documentations.

According to Dr William Derban, Director for Financial Inclusion at Fidelity Bank, expanding financial services to the over 60 percent unbanked population in Ghana will require a lot of education and suitable banking products to financially empower them.

'For people to be financially empowered, they need suitable products. Expanding financial services to the over 60 percent unbanked in Ghana will require a lot of education and I hope this game will go a long way to support this agenda,'Dr William Derban said this at a media conference to launch the Accra edition of the Monopoly Game.

'People simply need to be financially capable to survive in our world,' Dr William Derban stated.

He added that Fidelity Bank, in conjunction with GIZ, has provided over 20,000 leaflets on basic banking services such as savings, insurance and credit to people from all walks of life. This is making a huge impact in communities.

According to him, Fidelity Bank has started a new initiative on 'future of banking' seminar series for students to educate them on how technology is revolutionizing banking.

'Through the Monopoly Game, we hope to even attract younger people to educate them on the fundamentals of finance,' he added.

On the issue of providing suitable products for the unbanked, Dr Derban said Fidelity's Smart Account is now allowing the unbanked to have accounts instantly with very little requirements.

'Our network of almost 500 agents, allow our clients easy access to their money. This is changing the face of banking in Ghana,' he added.

He indicated that the bank has a team of dedicated relationship managers across their businesses that offer advice on all financial needs.