Question

The banking sector clean-up in Ghana has eroded the desire and confidence that general public had in banking sector. Currently deposit level in the country is low. You are to discuss the strategy that banks should adopt to enhance deposit mobilization.

Answer 1

The financial Crisis in the Ghanaian financial industry has ascended because of the uncontrolled crease ups, merger and acquisitions happening in the business.

This has diminished the monetary certainty of clients. There have been a few components guessed as the reason for the emergency in the Ghanaian Financial System.

A failure in the data framework drops down the certainty of buyers to the barest least. What has all the earmarks of being a modest emergency is exacerbated by the responses of customers to turn into a grave emergency, this can be tackled if there is a more significant level of Information Systems appropriation in the financial business which thusly would make more significant level of trust in shoppers.

Because of the consistent merger and securing in the Ghanaian financial industry, scarcely would the open know the set down systems for a merger and procurement. It generally shows up as an amazement on the clients of the foundations.

The vital arrangement including all partners must be mapped for the organizations converging to go to a bound together methodology. For example, the as of late Consolidated Bank (Consolidated Bank of Ghana) needs to work on an interoperability stage and clients have difficulties pulling back their cash because of the difficulties with the interoperability organize.

Clients on the different banks can't pull back money from ATMs of different banks inside the Consolidated Bank, and if even conceivable, the client is charged an expense as though the exchange was with an outsider Bank. These are similar circumstances that happen in the different mergers and acquisitions that happen in the Ghanaian Financial System.

The absence of sufficient arranging, arrangement and incorporation of the mergers and acquisitions in the Ghanaian Financial System is one of the assaulting factors driving the framework into emergency.

The further developed the Information Technology utilized by a bank, the more the certainty level of its clients. What was found ensuing to the exploration led was that whiles the clients had assembled their certainty level to a pinnacle and were anticipating some propelled type of Information Technology, the Financial System began having a downturn.