Staff of the Agricultural Development Bank (ADB) PLC received training from the Ghana Interbank Payments and Settlement Systems (GhIPSS) on the ACH NRT (Automated Clearing House Near Real Time Direct Credit service).

The exercise, a collaboration between ADB Clearing Unit and GhIPSS, formed part of the bank’s ongoing commitment to improving service delivery and enhancing customer experience through digital transformation.

The NRT payment allows corporate institutions or organisations to make single or batched payments by transferring funds electronically into different bank accounts throughout the country.

The training was attended by staff from various departments, including Asset Finance, Commercial, Consumer Banking, and Credit Risk, and the Ridge Branch of the Bank.

Speaking on the training, the Deputy Managing Director in charge of Services (DMD Services), Professor Ferdinand Ahiakpor, commended GhIPSS for the collaboration and noted that the training would significantly enhance the capacity of ADB’s staff to deliver top-notch service.

“The Near Real Time (NRT) payment channel offers a better and quicker alternative to cheques,” the DMD Services stated. “As a customer-focused institution, we are continuously investing in the development of our people and systems to provide faster, more reliable banking experiences,” he added.

Professor Ahiakpor explained that the use of cheques to make payment was becoming less popular globally, and NRT offered a more secure and convenient form of payment.

As an innovative and forward-looking bank, it is necessary for us to constantly evolve through training and capacity-building programs such as the ACH-NRT training.

The Team Lead of Partner Engagement & Bulk Payment Department of GhIPSS, Elsie Adiku, emphasised that NRT ensures value within 15 minutes, unlike the regular Direct Credit, which takes between 24 and 48 hours for the transferred funds to hit the account of the recipient.

“This means that on the ACH DC NRT platform, it will take only 15 minutes for money sent from bank A account to hit or be credited to bank B account(s).

"This allows the recipient(s) to receive value within the shortest possible time, rather than having to wait for 24 or 48 hours,” she mentioned.

Officials from GhIPSS took staff through the operational framework, benefits, and technical processes of the NRT ACH Direct Credit system, reiterating its role in driving payment efficiency and reducing settlement delays across the financial sector.

The Head of the Clearing Unit of ADB, Gibrila Osumanu, on his part, stated that ACH NRT would offer customers real value and help curb financial fraud.

ADB and GhIPSS have enjoyed effective collaborations over the years, and both parties seek to strengthen the relationship to continually make banking easier and better for all.