The Governor of the Bank of Ghana, Kwesi Amissah Arthur says banks should consider technology as one of the ways to improve their services and reduce costs. He says that’s another means by which they can remain competitive. The Governor was speaking at the recent launch of Energy Bank, the latest entrant into the banking sector. “Bank customers are increasingly becoming sophisticated and this has therefore resulted in the need for banks to apply technology to respond to continuing changing requirements,” he stated. To be competitive, Mr Amissah Arthur said, Energy Bank “will need to continually innovate and modernize its technology platform so as to meet the competition and also to provide banking products and services to its customers.” He also called for collaboration amongst banks and better use of the credit reference bureaus to help fight risks in the financial sector and reduce the volume of non-performing loans. source: Joy Business/Ghana