Stanbic Bank partnering FinTech to co-create innovative for SMEs

Marian Amartey, Head, Business Enablement, Business and Commercial Banking at Stanbic Bank Ghana, has emphasized the bank’s commitment to driving growth for small and medium-sized enterprises (SMEs) through digital technology. Marian Amartey said this at a recent Stanbic X-Space event on the topic “Digital Transformation: Unlocking Growth Opportunities for SMEs in Ghana.”

In her presentation, Marian Amartey highlighted how the bank is leveraging partnerships with Fintech in providing innovative and accessible solutions to empower SMEs in the digital economy.

She noted that “Stanbic Bank is integrating digital technology to deliver more efficient, flexible, and data-driven services to its small business clients. By leveraging digital transformation, the bank is offering a range of tools, from digital banking platforms and payment solutions to data analytics and capacity-building initiatives, designed to enhance business operations and streamline financial management for SMEs.”

“Our goal at Stanbic Bank is to deliver value to our customers through digital transformation. By collaborating with FinTech and using data-driven insights, we are committed to empowering SMEs to achieve sustainable growth and thrive in today’s digital landscape,” she added.

Ms. Amartey spoke about Stanbic Bank’s digital platform, Enterprise Online, which provides businesses with critical tools to help them monitor their transactions in real time, make payments conveniently, transfer funds across accounts within Ghana and internationally and manage multiple accounts using a single payment channel.

Through these features, Stanbic Bank aims to simplify financial operations for SMEs, allowing them to focus on growth and expansion. Stanbic Bank is also enhancing its digital payment ecosystem by integrating mobile money wallets with customer accounts.

This allows small business owners to seamlessly move funds between their mobile wallets and bank accounts, ensuring better financial management and preventing the misuse of business funds. The bank’s Point of Sale (POS) devices further support both card and mobile money payments, providing merchants with versatile payment options.

Additionally, the bank offers e-commerce solutions that enable small businesses to integrate payment gateways into their websites. This allows their customers to make secure online payments using cards or mobile money, boosting the SMEs’ digital presence and sales capabilities.

Marian Amartey further mentioned that Stanbic Bank is gearing up to launch its Digitalized Lending platform, which will allow SMEs to initiate loan requests through digital channels, significantly reducing processing time. This initiative is part of the bank’s strategy to partner with women-led enterprises, youth startups, and other small businesses, helping them scale their operations from zero to one hundred.

With these digital advancements, Stanbic Bank Ghana continues to lead the way in supporting SMEs, fostering an ecosystem of innovation, and unlocking new growth opportunities for businesses across the country.

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