UT Bank in partnership with Airtel Ghana is to launch a new and unique savings account product known as the UT FONBank. The product allows subscribers of Airtel services to transact banking business on the mobile platform. It serves as a normal traditional bank account giving the client the opportunity and convenience to do banking anywhere and at any time with the help of their mobile device. The product also enables customers to open bank accounts, save money and earn interest just as they will on traditional bank account without physically going to any bank outlet and at their convenience using the Airtel money platform. According to Mr Nelson Korshi Da Seglah, Head of E-Business at UT Bank, the development of the FONBank product was necessitated by the desire of the bank to give customers safe and secure means of saving that fits into their lifestyle. “What we seek to do is to have the FONBank product as a means of reaching to the chunk of our population who are not using traditional banking services. UT Bank has always positioned itself as a bank committed to developing products which will not only revolutionize the banking industry, but will also be found to be convenient to our customers”, Mr. Da Seglah said. The UT FONBank also allows customers to pay utility bills, pay for goods and services, make direct payments on savings and loans contributions, buy airtime and withdraw cash among other benefits and it is opened to all mobile subscribers above 18 years. The product comes with high security features which make it safe and secure adhering to the highest banking security standards. Mr Kola Sonola Director of Mobile Commerce at Airtel Ghana, said the Airtel Money platform is very safe adding that customers using the FONBank Account would realize that their monies are safe. “Your money is safe since every transaction uses a very high encryption standard that adheres to highest banking security standards and your password; we have invested in the Airtel Money platform and we believe that this partnership with UT Bank amply demonstrates the faith in the system,” Mr. Sonola added.