According to him, WhatsApp banking will allow businesses and individuals to interact with their banks and manage their finances without the usual constraints.
He added that it will benefit both consumers and businesses as it will integrate crucial financial services into a well-known service that people use regularly.
“WhatsApp Bank represents a great opportunity for traditional financial institutions to improve financial inclusion and serve the underbanked. WhatsApp Bank has the potential to help entrepreneurs in several ways. It facilitates simple inquiries and transactions, but can also be used to manage complex transactions such as Forex trading and fast transfers – meeting the varied requirements of entrepreneurs.
Partnerships with technology companies help these institutions improve their understanding of modern business methods, enabling them to offer innovative new products tailored to local markets such as Ghana.he said in an interview with the B&FT.
Mr Addo-Quaye added that in terms of cross-border transactions and payments, WhatsApp banking can be integrated with all forms of payments and channels, including cards, wallets, mobile money and transfers. banks, saying banks can leverage existing APIs and technology to help deploy these services across borders to meet the needs of their customers.
“Network International is committed to helping businesses and economies thrive by simplifying payments and commerce. Financial markets are recovering across Africa, in part thanks to an accelerated transition to digital payments during the pandemic, and this presents a great opportunity for us to improve financial inclusion for a wide range of markets and people,” he said