In continuation of its digitalization drive that seeks to promote financial inclusion to support private sector led growth in line with government’s over hacking objective of building a more innovative, diversify and inclusive banking operations in the country, Sierra Leone Commercial Bank, the leading financial institutions in the country has on Friday 29th March 2019 at Shangri La Entertainment Complex at Lumley/Aberdeen Beach, launched three new digital products namely, MI YONE ONLINE BANK, MI YONE MOBILE APP and MI YONE ONLINE DIRECT.

These three novel products now introduced in its banking suit will not only propel the bank’s growth to higher levels but will also position the bank as one of the great contributors to the financial inclusion agenda. This product aims to meet both individual and corporate customers need with the strongest belief that the convenience and ease they provide for customers in doing banking will certainly be second to none in the industry.

MI YONE ONLINE BANK: is a convenient banking application that runs on any mobile device including laptops and desktop computers.
MI YONE MOBILE APP: is an application that can be downloaded by any USSD customers with smart phones or tablets devices supported by Android or Apple platforms. These applications provide a host of facilities that customers can use at the convenience of their fingertips to access the many banking services from the comfort of their homes and offices or anywhere in the world on a 24 hours basis and 7 days a week.

These products will enable personnel account holders to view balances, pay bills, (EDSA), purchase airtime top-up (Africell, Orange and QCell), request for cheque book and bank statement, funds transfer (SLCB and other banks), send Salone link local money transfer to account holders and non-account holders, view loan details and loan quotations, view foreign exchange indicative rates, allows customers to chat with the bank on a real time basis, among several others.

With SLCB mobile banking, customers can do QR payments at shops and supermarkets and the USSD code for mobile banking is *545. The same credential used on the mobile app can be used to login on the personnel internet banking

MI YONE ONLINE DIRECT: This product targets corporate customers. It allows them to pay their employees advance salary and also conducts other functions relevant to any business.

With MI YONE ONLINE BANKING, corporate customers can add beneficiary and view list of beneficiary of an account, initiate a transfer (inter account transfer, third party-SLCB and other bank transfer (Direct credit and RTGS), upload bulk/multiple payment, originate sale of foreign exchange notes to the bank, request for bank statement, cheque book and stop a cheque, create and stop standing order, send swift documentation to the bank, create fixed deposits and view loans/advances terms, create originator (s), set transaction limit and select and view preferred language, among several others

Giving a brief synopsis of the benefits attached to these three products, the Managing Director of the Sierra Leone Commercial Bank, Fidelis Turay said, the products are expected to expand financial services to the non-formal sector and hence, address the low level of financial inclusion and in the process, also raise domestic revenue.

Elucidating on the advancement marked by the bank over the years, he said in 2013 the banks had in its books a total of 137, 945 registered active account holders but can now boost of a customer base of 198,586 with the biggest significant growth marked in 2018.
“Notwithstanding this huge progress at SLCB, we do not rest on our oasis. We achieve one standard and immediately we set new standards for ourselves and get to work” he said

This emerging technological trust witnessed in the nation’s financial sectors is also in line with the Central Bank vision for financial inclusion since the unbankable or underserved population is greater than the existing banking population.

These new products will now enable the bank to target these populations.