Rural Development Bank

The Rural Development Bank is collaborating with Innobanking to establish a chain of micro-branches throughout rural Ghana and Nigeria in order to make a significant contribution to financial inclusion in rural areas. The Rural Development Bank is an online merchant bank with a sophisticated operating platform based within a bonded secure server in the UK and supported by micro-branches complete with ATM. The payment platform provides unparalleled mobile payment and bill paying transaction functions. Imagine a mobile payment platform that has full Internet banking functionality, is linked to a bank (not a telco), is integrated within the national switch, has a chip card so it can be used at any POS Terminal to purchase goods or at any ATM throughout the country. The Rural Development Bank extends service points through Retail POS Agents by utilizing dual SIM POS terminals which improve cash flow for shops by allowing cashless purchases. Marketing POS terminals provides revenue to fund the sales and support team to establish the Retail POS Agents throughout the country to stimulate transaction volumes. The Retail POS Agents earn additional revenue by opening bank accounts for their customers and servicing transactions. Retail POS Agents are supported by a conveniently located Micro-Branch which acts as a Master Agent Hub that incorporates an ATM and has larger cash reserves available. The ATM’s incorporate highly innovative cash recycling technology, they not only issue cash but also accept and validate notes and then make them available to be issued. This technology reduces maintenance costs and provides a level of service to the customers that could not otherwise be provided. Our Buy2Lease remittance service provides a 96.5% advantage. A business opportunity is available to bank executives who want to own and operate their own bank and have a desire to make a significant contribution to the financial inclusion deficit and to stimulate the rural economy.