Absa Bank prioritising customer uniqueness with ‘Your Story Matters’ initiative

Absa Bank Ghana is embarking on a new chapter in its customer service approach, prioritising empathy and individual needs under the tagline ‘Your Story Matters.’

The move follows previous ‘chapters’, beginning with the evolution of the bank from Barclays to Absa; which was finalised in 2020, as it sought “to become a banking group which Africa can be proud of – rooted in Africa and its heritage”.

This was followed by other successful initiatives in 2023, like the industry-first 10 percent small and medium-scale enterprises (SME) loan programme, which provides loans at less than a third of the prevailing lending rates.

Already, some GH¢100 million has been disbursed under the initiative to women and youth-owned ventures, further demonstrating the bank’s dedication to empowering businesses.

During an interaction at the soft launch of the new direction in Accra, Nana Essilfuah Tamakloe, Marketing and Corporate Relations Director at Absa Bank said: “We have always been a human-centered bank that drives empathy and offers seamless and agile solutions. But we want to be even more intentional about it moving forward”.

The move marks a growing shift from viewing customers primarily through the lens of statistics and creditworthiness.

Mrs. Tamakloe further elaborated on this shift, stating: “Throughout the process of engagement, customers felt banks looked at them as statistics as risks and not as individuals with unique stories”.

Absa aims to bridge this gap by implementing several key strategies.

One crucial aspect of the ‘Your Story Matters’ chapter involves providing tailored solutions. She said the bank acknowledges that each customer has unique financial needs and goals and that by actively listening to their customers and understanding their individual circumstances, Absa aims to offer personalised financial products and services that cater to their specific requirements.

Deepening customer engagement is another cornerstone of this chapter. Under this, Absa says it recognises the importance of actively listening to customers and fostering a more meaningful dialogue. This involves understanding their financial journeys, challenges and aspirations.

“By prioritising open communication and building stronger relationships, Absa hopes to become a trusted partner in their customers’ financial success,” the Director added.

Financial literacy remains a key focus for Absa Bank, too. For instance, the bank plans to expand its financial literacy programmes, targeting educational institutions at both the basic and secondary cycle levels. This initiative seeks to equip the younger generation with the knowledge and skills necessary to make informed financial decisions.

Women-led businesses are another area where Absa Ghana continues to place significant emphasis. The bank intends to collaborate with various stakeholders to bolster the export potential of these businesses.

“This collaborative approach aims to empower women entrepreneurs and contribute to the economic growth of Ghana,” she added.

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