Bond to start universal banking as it unveils new products
The finance house, Bond Savings and Loans, plans to start full commercial banking operations by 2017 in order to expand and deliver world-class services to the banking public.
The company, which secured approval from the Bank of Ghana last year to operate as a savings and loans company, says it is on track to become a fully fledged bank by 2017 after operating for five years.
Speaking at the launch of two banking products — Bond Easy Insure, Bond Duapa and the E-banking service, the Chief Executive Officer of Bond, Mr George Ofosuhene, said the company was on track to meeting the necessary regulatory requirements to become a universal bank.
He said Bond was in discussions with other institutions which were ready to support the bank to secure a universal banking licence.
The company unveiled the three new products to improve on and strengthen the present and future lives of individuals and companies in the financial services sector.
Mr Ofosuhene said the launch was to offer customers convenience and a one-stop shop experience for all their transactions.
Bond Duapa offers a range of investment products designed for individuals, corporate organisations, enterprises and associations at very attractive interest rates.
It is designed to encourage individuals to put aside part of their monthly earnings for the future.
The Bond Easy Insure allows for upfront payment of insurance premiums on behalf of clients in convenient instalments.
Other products launched were Internet banking, inward remittances and mobile money services.
The CEO explained that the Easy Insure product was a solution to the “No premium, no cover” policy introduced by the National Insurance Commission in 2014.
He said it was a win-win situation for the insurance company and the insured and would encourage people to take out insurance policies.
The Bond Duapa service, he said, was a monthly investment product which, when compounded over time, would yield high returns.
“We are in the digital age and Bond promises to use technological advancement to enhance its services to its customers,” he said.
The Board Chairman of Bond Savings and Loans Limited, Mr Peter Osei-Duah, launching the products, said: “Today is certainly a positive and progressive milestone for the company.”
He said “the milestone that we are here to celebrate is the introduction of three service products which together can help improve lives of individuals and corporate bodies”.