Stanbic Bank Ghana Highlights AI’s Role in Financial Inclusion
By Maame Efua Kwaduah
The Head of Digital Transformation at Stanbic Bank Ghana, Estelle Jacqueline Asare, has underscored the transformative role of artificial intelligence (AI) in driving financial inclusion beyond traditional access to banking services.
Speaking at the MTN Business CTIO Roundtable Africa 2026, Ms. Asare explained that conversations around inclusion have often been limited to improving access in rural areas. However, she noted that recent advancements are reshaping the financial sector by enabling institutions to draw on a wider range of customer information to design products and services that reach more people.
She said financial institutions are now better positioned to assess customer behaviour and financial history, allowing them to make more informed lending decisions while promoting responsible financial practices.
According to her, this shift is also improving customer experience, particularly for individuals who struggle with traditional banking platforms such as USSD services and mobile applications. She noted that newer systems are simplifying transactions through voice-based interactions, biometric verification and other user-friendly features.
Ms. Asare pointed out that these developments are especially beneficial to the elderly, persons with visual impairments and individuals with limited literacy, as they reduce the complexity of accessing financial services and eliminate the need for constant assistance.
She emphasised that technology is gradually removing long-standing barriers linked to literacy, disability and digital skills, making the financial system more inclusive and efficient.
Beyond improving access and service delivery, Ms. Asare also outlined how financial institutions are approaching the integration of these technologies within their operations. She explained that strategies differ depending on the nature of the organisation, noting that banks typically rely on established platforms provided by global technology firms rather than building systems from scratch.
She said this approach allows banks to benefit from strong security systems and stable infrastructure, while focusing on developing tailored solutions that meet the specific needs of their customers.
At Stanbic Bank, she revealed that the institution is deploying such systems across various channels, including USSD platforms, to enhance customer interactions and speed up service delivery. By combining these platforms with the bank’s internal data, the institution is able to respond more quickly to customer needs and improve decision-making processes.
Ms. Asare further noted that due to strict regulatory requirements within the financial sector, banks often adopt a cautious and phased approach when introducing new technologies. As a result, partnerships with specialised firms have become essential in supporting implementation and scaling solutions effectively.
She explained that collaborations with technology partners enable banks to develop advanced tools for analysing financial data and delivering more targeted services, while maintaining compliance with regulatory standards.
Ms. Asare maintained that as financial institutions continue to refine these approaches, the focus will shift from simply expanding access to ensuring that all customers, regardless of background or ability, can fully participate in the financial system.
