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Modernise banking
Dear Editor,
I was intrigued by the recent letter regarding the long wait times at various bank branches. This issue is quite common and not unique to Guyana. To resolve this long-standing problem, Guyana must modernise its banking landscape by transitioning toward digital services.
By shifting consumer habits away from frequent branch visits, banks can free up staff to focus on complex business matters rather than mundane inquiries. This shift would increase efficiency for both consumers and institutions. Unlike traditional banking, which is limited to specific hours, digital banking offers 24/7 access and greater interaction.
A recent study across 17 countries found that 61% of people visit their local branch less than once a month, while 22% access their mobile banking app 10 or more times a month. Through digital banking, banks can better understand consumer needs and provide personalised services to meet them.
Best regards,
Daniel Singh
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