Ghana: Stanbic Bank Champions SME Growth through Digital Technology

Head of Business Enablement at Stanbic Bank Ghana, Marian Amartey, has reaffirmed the bank’s dedication to fostering growth for small and medium-sized enterprises (SMEs) via digital technology. 

Speaking at the recent Stanbic X-Space event on “Digital Transformation: Unlocking Growth Opportunities for SMEs in Ghana,” Amartey highlighted the bank’s innovative approaches.

She highlighted how Stanbic Bank is leveraging partnerships with fintech firms to provide accessible solutions that empower SMEs in the digital economy.  “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,” Amartey said.

The bank’s digital platform, Enterprise Online, equips businesses with essential tools to monitor transactions in real-time, make convenient payments, transfer funds locally and internationally, and manage multiple accounts using a single payment channel. Additionally, the bank’s Point of Sale (POS) devices support card and mobile money payments, offering versatile payment options for merchants.

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

She further  announced that Stanbic Bank is preparing to launch its Digitalized Lending platform, allowing SMEs to initiate loan requests digitally, significantly reducing processing time. This initiative is part of the bank’s strategy to support 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.

She added, “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.”

Stanbic Bank’s unwavering commitment to digital transformation highlights its role as a catalyst for SME growth in Ghana, ensuring businesses are well-equipped to navigate the digital economy successfully.