Technology has proved to be critical in driving various industries across the globe and Ghana’s banking sector is also capitalizing on the opportunities its offers.

The Head of Financial Services, Strategy and Operations at KPMG, Robert Dzato tells  JOY BUSINESS even though customers are also increasingly patronizing digital banking services, electronic fraud remains a major disincentive.

He said, “Most of the customers we’ve interviewed actually said - I’d like to use digital, I’d like to use internet banking but I’m concerned about the fraud. And so cyber security is a concern to a number customers and fraud as well. But that is beginning to change, well in our survey we found out that possibly only four percent of customers use online banking but that’s on the average across the banking industry in Ghana.”

Robert Dzato added that, “there are some specific banks that have done extremely well possibly in the region of 30%. If you go bank specific then you find that the story is changing, we are beginning to see some banks responding to that as well.

He said, “The truth is that when there is fraud cyber security issues, the banks and suffer and customer suffer as well. So it is strategic imperative for banks to begin to look at venerability, what platforms we are using and how do we ensure that our platforms are robust enough”