Daniel Nonor
10 July 2009
The Kwame Nkrumah University of Science and Technology (KNUST), Kumasi, has become the latest beneficiary of a new e-banking product introduced by HFC Bank (GH) Ltd. aimed at making campus life easier for students.
With the 'HFC Transflow' in place at KNUST, the university becomes the second tertiary institution in Ghana to benefit from the use of the system after the Regent University in Accra.
Mr. Charles Martinson, General Manager, Business Development of HFC Bank, told reporters the system allows students to pay their fees and make other payments to the university directly online.
He said the long queues on university campuses by students to make payments informed the HFC Bank to come up with a system that would ease the burden of the students.
HFC Transflow therefore enables students who need to make payments to their institutions to just go to any branch of the bank and make such payments which will immediately reflect on the screens in the accounts department of the universities.
"Once payment is made a pay-in slip is given as acknowledgement of payment, which is then used for purposes of registration. This makes the difference between the HFC Transflow and the purchase of a payment order."
Students however need not be account holders of the bank although, the service is free for them.
Mr. Martinson said so far the system has been operating successfully at the Regent University and was of the view that once school reopens at KNUST the system would be put to full use.
He said it is the aim of the bank to reach all schools in the country but have decided to start with the tertiary institutions. For that reason, discussions are going on with other tertiary institutions to have the system operate there.
With the HFC Transflow, Mr. Martinson said, students would be saved from travelling long distances with monies on them and avoid the risk of loss and armed robbery. The system further makes payment more convenient as it eliminates the burden of going to buy payment orders from the bank which also comes at a cost. He said students who continuously use the product for their payments will apart from enjoying its benefits, be rewarded by the bank and therefore called on all students to patronise the product.
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