Bridging the gap between the bank, unbanked; ECR shows the way

ECR Systems Ghana, a subsidiary of ECR Systems UK, a world leading provider of mobile solutions and Revenue Management Systems (RMS), is poised to provide IT solutions to the Ghanaian finance environment.

ECR with over 40 years experience has established its presence in all sectors, including finance, transport, retail and the hospitality industry with over 22,000 licenses sold worldwide.

Using the Revenue Management System, ECR Systems Ghana has drastically improved the nature of operations of financial institutions by reducing fraud, ensuring traceability, transparency, mobility and accountability.

According to management of ECR, previously unless a customer deposited money at a bank in person, there was no way of legitimizing the transaction process.

But with the introduction of ECR system mobile technology, customers can rely on a convenience and reliable system and deposit money from the comfort of their homes or small businesses by being issued with instant receipt to legitimize the transaction.

These, authorities say, it had reduced the cost of monetary collections across Ghana and also increased confidence in the technology of the doorstep banking concept, restoring and strengthening customer confidence in the company’s products and services.

“RMS deployed by ECR systems Ghana has a very robust design in the sense that it allows for extensibility and future scalability, we tailor our solutions to meet your business needs.

The technology has evolved over many years, and it has now been tailored for the informal sector in Ghana. It is interesting to note that the average institution seems to think the POS hardware is the main driving factor in the technology, it is just a tip of the iceberg. The backend architecture is the engine behind a successful implementation of such technologies, and ECR Systems Ghana has deployed a nationwide complex solution that has stood the test of time,” Mr C.K Appiah, Technical Operations Director, ECR systems Ghana has said.

Mr. Appiah also mentioned that the robust RMS is ALL-IN-ONE integrated secure system comprising best breeds of ruggedized PCI compliant terminals, wireless technology and powerful back end servers with online/offline capabilities, integrated reporting tool that synchronizes and streamlines information collected.

Offering explanation on the system, the technical director said transactions are recorded as they happen on the field, and receipts are immediately issued to customers providing branch management with real-time information on field activities.

Therefore, by the time the field cashier is done with rounds for the day, transactions have already been recorded, making reconciliation of the end of day transaction easier and more accurate.

This system offers an innovative mobile banking breakthrough to industry players in Ghana.

According to ECR clients and end users, the system has legitimised collection of money, ensured confidence in their operations since transactions are carried out in a reliable, fast and secured way.

Industry players are able to monitor the performance of their employees closely, and customers are able to keep a legitimate proof of their transactions. The features of this system allow firms to securely operate and ensure trustworthiness between the firm and its clients, enforcing good customer service, safety and credibility.

The Executive Director (Head of Programmes) ECR Systems Ghana, Wisdom Vodzi, stated “Considering numerous attempts by institutions to deploy robust and reliable solutions in automating the informal sector over the last decade, ECR Systems Ghana is proud to be pioneers in transforming the informal sector and the economy with our tried and tested world leading technologies and products”.