The Governor of the Bank of Ghana, Dr. Ernest Addison, has underscored that the survival of modern banks will depend not only on innovation but on their ability to build and preserve trust in an increasingly digital economy.
Delivering his keynote address at the 2025 Ghana Banking Conference, Dr. Addison painted a vivid picture of a financial landscape undergoing rapid transformation, shaped by technology, shifting demographics, and evolving risks. He reminded the industry that every generation faces a decisive moment, and for today’s bankers, that moment is now.
“Every generation of bankers face a turning point. For ours, this is it. The business of banking is being reshaped, not just by regulation, but by technology, changing customers, and emerging forms of risk,” he said.
According to Dr. Addison, digital acceleration has become the core of financial services, no longer a side project but the very foundation of banking operations. Across Africa, mobile money has surged, while in Ghana, digital transactions surpassed GHS300 billion in 2024, accounting for over 60 percent of GDP. He explained that customers now expect real-time transactions, cross-platform compatibility, and uninterrupted access to their finances, expectations that demand agility, transparency, and responsibility from banks.
“Customers now expect instant settlement, seamless interoperability, and round-the-clock availability. Digital is no longer an add-on to banking; it is banking,” Dr. Addison stated.
The Governor noted that this technological shift is accompanied by a fundamental change in the customer base. With more than 60 percent of Ghanaians under the age of 35, today’s consumers are mobile-first, digital-native, and increasingly global in their outlook. For them, he said, banking is not confined to a physical branch or fixed schedule; it is a constant, integrated experience.
Beyond convenience, however, Dr. Addison cautioned that trust remains the single most important asset in a digital financial system. As innovations such as artificial intelligence, tokenisation, and open APIs redefine how banks operate, they also introduce new vulnerabilities, from data breaches and algorithmic bias to cyber fraud.
He said maintaining customer confidence in this evolving ecosystem will depend on how securely banks govern technology, manage data, and ensure ethical practices in automation and analytics.
“Cyber resilience and third-party risk management are now as critical as capital adequacy, and operational soundness is increasingly measured by how well banks secure and govern their technology environments,” he said.
Dr. Addison emphasised that open banking, consent-based identity systems, and data-sharing frameworks were fundamentally redefining what it means to be a trusted financial institution. He urged banks to prioritise digital integrity, aligning innovation with accountability, and growth with governance.
The Governor further stressed that trust must be designed into every customer experience, not treated as an afterthought. From safeguarding data privacy to ensuring transparent algorithms and inclusive financial access, the institutions that succeed, he said, will be those that act quickly and ethically.
In his words, digital transformation has changed the tools of banking, but integrity remains its true currency.
