Societe Generale Ghana holds conference on global transaction banking
Societe Generale Ghana has organised a conference to update its clients on its Global Transaction Banking (GTB) service which aims among other things at facilitating the domestic and international transactional activities of customers.
It is also to update patrons on the key trends in their new set-up banking activities and services.
The GTB also helps in building better client relationship for effective control over transactions through state-of-the-art, centralized and user-friendly tools.
In addition, it helps reduce costs and operational risks through automated processes, ensure real-time communication and reporting of transactions, as well as ensure optimized resource management.
Mr Sionle Yeo, the Managing Director of Societe Generale Ghana, in an address, said the Bank had over the years invested in upgrading its set-up to meet the required connection with its parent Group’s business lines and expertise across the world, to avoid local duplication and present the best of the two worlds.
He said the Bank which is a subsidiary of the Societe Generale Group, currently offers tailored financial solutions to its diverse clientele including governments, Small and Medium Enterprises, the oil and gas as well as mining sectors, and multinational companies.
He said the innovation which had already started in the various branches of the Bank nationwide, has been done through the initiation of transformational programmes aimed at streamlining the organization and optimizing its staffing to support the ambitious business development targets.
This, he said, was based on pillars such as ensuring better operational efficiency using the best of technology and the digital world, and ensuring enhanced products and services boosted by continuous innovation and leveraging on the core value of the Societe Generale Group, to reach a high level of customer intimacy.
He gave an overview of the Bank’s activities and achievement since it opened in 2013 and the massive investment committed over the years in the upgrading of facilities, products and services, to meet the increasing demands of its clients both domestically and internationally.
The Bank he said has also improved its networking, provided financial support to the oil and gas as well as mining sectors, facilitate Small and Medium Enterprises financing, provided financing for government projects, and offered various tailor made services for business growth and national development.
Mr Yeo said the Bank remains committed to improving the quality of service to its customers.
Mr Fred Obosu, the General Manager in charge of Corporate Banking, said the GTB was developed to meet the needs of clients by providing a one point of contact for Cash management, Trade Finance, Correspondent Banking, Factoring, leasing and Custody on request to its clients.
The GTB new information technology solutions also enable clients to self-manage their accounts and transactions online, cash-out and in, or transfer and receive payments at the bank, carry-out their domestic and international payments, manage and optimize their cash flows, finance their working capitals and secure their trade activities and payments using internet banking and other IT platforms.
He said Societe Generale Ghana was the first Bank to be officially licensed by the Bank of Ghana to sell and offer Factoring and Reverse Factoring, which facilitate trade by providing fast cash advances generally 80 per cent to both buyers and sellers, optimizes cash flows, improves credit management as well as collection procedures and avoid insolvency and default risk on the buyer among other things.
He said GTB he said would help clients to meet complementary needs for their operations, and for efficiency, business experts who would provide specific expert support to clients on their transaction banking needs and on the corresponding IT solutions were stationed at the various branches.
Mr Francois Marchal, the Deputy General Manager of Societe General, thanked participants for their time and feedbacks during the question and answer session, which was crucial to assist Management in their strategies to shape products and services for the optimum benefit of its customers.