GTBank partners Students Loan Trust Fund for electronic collection of loans

The Students Loan Trust Fund (SLTF), in collaboration with Guaranty Trust Bank (Ghana) Limited, has launched the ‘Repayment at Your Fingertips” drive by adopting the Bank’s safe and reliable electronic payments channels to enable beneficiaries of the loan scheme conveniently make repayment of monies owed.

This move is in support of the current government’s cashless agenda being championed by the Vice President , Dr. Mahamudu Bawumia, and to enable Ghanaians conveniently make payments and further assist the government to recoup monies owed in order to increase revenue for national development.

The platforms to be deployed for this exercise are GTPay and Myghpay, both online collections platforms which enable users all over the world to make payment directly from their bank account, Mobile Money wallet or their Visa/MasterCard, and the USSD code *737*206#.

Beneficiaries can also walk into any of GTBank’s 34 branches nationwide to pay their loans directly over the counter via the Bank’s GTCollect platform and SLTF website.

Divisional Head of Digital Banking of Guaranty Trust (Ghana) Limited, Mr. Leopold L. L. Armah, expressed delight at the convenience being provided for repayments of the loan scheme. “This is a project that GTBank is willing to help push because repayment of loans taken from the government can go a long way to help other needy students.”

“We know time is of the essence and visiting the bank or SLTF offices can be inconvenient to workers, hence our decision to avail our omni-electronic platforms to enable everyone pay from wherever they are, within a minute,” he added.

Chief Executive Officer of SLTF, Nana Kwaku Agyei Yeboah, said “It is imperative for the sustainability of the Fund that the monies owed by beneficiaries are repaid. To this end, the Fund is implementing various measures to improve collections from borrowers.”

“This partnership offers beneficiaries and guarantors total ease and convenience as they can now pay their loans on their mobile phones or computers, no matter where they are in the world, without having to move from one place to another. GTBank’s bouquet of safe and reliable platforms is the perfect solution for us.”

GTBank, over the years, has earned the tag of the most technologically advanced bank in Ghana for the introduction of innovative technology-driven platforms and services to make banking easier for all Ghanaians no matter where they may be.

Account holders therefore have free access to the various electronic channels such as Internet Banking, GTWorld, *737# and myghpay through which they can carry out transactions at any time of the day and from any location without having to visit the banking halls.

The bank recently received the Payments Card Industry Data Security Standard (PCI DSS) version 3.2 Compliance certification, which is heralded as the most demanding payment-card security standard recognized globally by industry watchers. With this, it has become one of the very few banks in West Africa and the first in Ghana to be certified by the global market leader in cyber and information security, Sysnet.

Source: B&FT

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