SIC Life Savings and Loans, a subsidiary of SIC Life Company Limited has launched ‘Kiosk Banking’ aimed at providing financial services for the inclusive market.

Dubbed ‘Sika Fie’, the channel is a touch-point for basic banking services such as account opening, cash deposits, withdrawals, bill payment and remittances using the kiosk and technology as the medium of operation instead of the indigenous brick and mortar.

Starting from Accra, about 40 customised kiosks will be situated at selected places for prospective customers to make transactions.

Once a transaction is made, a notification is sent to the customer through a text message guaranteeing the safety of the money.

“We are the only government savings and loans company that is bringing out this product and anything to do with government, we have to be careful… Before we get to the client, we put in the best security system so you don’t go through challenges like the normal susu collectors. Our staff are well trained for this product. And with technology, I will say we are the first to do kiosk banking so we’ve put in efforts to ensure that everything gets to the head office…” said Vincent King-Arthur, Head of Inclusive and Personal Banking for SIC Life at the launch in Accra.

By opening a 'Sika Fie' account, a customer can apply for a loan with a flexible payment plan.

Member of Parliament for Ofoase-Ayirebi constituency and deputy Information Minister, Hon. Kojo Oppong Nkrumah who graced the occasion lauded the firm, indicating that the initiative spells a new open for the financial industry of the country.

He encouraged all to embrace the opportunity since safety of their money can be guaranteed.

“SIC Life Savings and Loans is owned by SIC Life, a company which has a strong track record and a big balanced sheet… it is exciting to know that this idea is purely Ghanaian. Even the kiosk we see is manufactured right here in Ghana, the software used to receive and transmit messages to the call banking application and then unto our phones was designed in Ghana. It shows the ingenuity of Ghanaian enterprise,” he noted.