Simkorpor, the digital banking service platform offered by Rokel Commercial Bank (RCBank), celebrates five years of success in revolutionizing the financial landscape of Sierra Leone.

Mrs. Kezia Salankole, the Head of Simkorpor, expressed her pride in the achievements of the past five years and the positive impact RCBank has had on the digital space in the country.

During a reflection on the journey of Simkorpor, Mrs. Salankole highlighted the convenience and accessibility that RCBank has brought to Sierra Leoneans through cutting-edge technologies.

She announced that RCBank’s Simkorpor department now boasts of over 200 Agency Banking locations nationwide, enabling customers to conduct financial transactions from the comfort of their homes or anywhere they may be.

Emile Sannah, the Operational Head at RCBank’s Simkorpor Department, explained that the decision to launch Simkorpor was driven by the long queues and waiting times experienced by customers at physical bank branches.

Recognizing the need for improvement and digitalization, RCBank’s management, led by Managing Director Dr. Ekundayo Walton Gilpin, initiated the development of the Simkorpor service.

Sannah emphasized the ease of use and accessibility of Simkorpor, stating that it can be used on Android and other smartphones.

“The app is available for download on Google Playstore and Apple Playstore, with plans to introduce USSD functionality for users without smartphones. The Simkorpor service has enabled customers to conduct financial transactions securely, reducing the need for physical visits to bank branches,” he said.

Zakiatu Dixon, a supervisor at the Simkorpor Department, shared numerous success stories resulting from the service.

“Customers now have the ability to perform transactions from their homes, reducing crowding and wait times at physical branches. The app’s popularity has extended beyond urban areas, with people in the provinces embracing the convenience of digital banking as long as they have an internet connection,” she said.

Dixon clarified that the Simkorpor app is primarily designed for customers with current and savings accounts, including foreign accounts with certain limitations. Currently, transactions are only possible in Sierra Leonean Leones and not in foreign currencies. However, she expressed openness to expanding these capabilities in the future.

She further revealed that the Simkorpor service has been upgraded to Simkorpor+, incorporating new features and functionalities.

The latest additions include internet connectivity for app usage and the ability to purchase EDSA top-ups, mobile airtime, pay for goods and services, and transfer funds to other accounts. Additionally, Simkorpor+ facilitates payments to organizations, eliminating the need for recipients to have an account with RCBank, requiring only their telephone number. The service is available across all mobile networks in the country.

Encouraging individuals to embrace the service, Dixon emphasized the affordability of Simkorpor+, with low charges and the sender covering transaction fees. She also highlighted the option to use the same amount paid in fees and deposit it into the customer’s account using the same code.

Fawella O.G. Greywoode, a staff member at the Simkorpor Department, celebrated the continuous growth and expansion of the service.

“Starting with Sim Overlay and evolving into Simkorpor and Simkorpor+, the department has witnessed substantial progress,” she said.

Greywoode highlighted the extensive reach of Simkorpor, with agents established throughout the country.

Regarding security, Graywoode assured customers that Simkorpor is a secure platform.

“It can only be accessed using the phone number registered with the account, and additional verification, such as a password, is required. In cases of lost or stolen phones, customers are advised to contact the bank promptly to prevent unauthorized access to their accounts. The Simkorpor Department provides a dedicated helpline (078222501) for customer inquiries, which includes WhatsApp messaging for efficient communication,” she said.

“Sim korpor application has the merchant functions where in customers can easily pay for goods and services like in restuarants, saloons, barbing shops, supermarkets etc by simply scanning a QR code which is readily available.”

Richard A.F Ashcroft, the Agency Banking Officer at RCBank, shared remarkable success stories and testimonials from Simkorpor users.

He mentioned a notable instance where a payment was made to 3,000 recipients in a short period, many of whom did not have accounts with RCBank. While transaction limits are currently set at Le15,000 per transaction, Ashcroft expressed the bank’s commitment to further develop the service.

Ashcroft acknowledged the challenges of fostering a shift towards digital banking, primarily due to customers’ lack of complete trust in technology. However, he expressed confidence in overcoming these challenges and praised RCBank’s proactive IT department for maintaining a secure system.

He also mentioned plans to integrate more services and businesses into the app, highlighting RCBank’s aim to establish a cashless society in Sierra Leone.

Lamin Bockarie, in charge of Personal and Corporate Internet Banking Service at RCBank, explained that Simkorpor is an additional service on their platform, supporting international and online banking.

“The Internet Banking service is divided into personal and corporate banking, catering for individual and organizational account holders respectively,” he said.

Bockarie stressed that the service is accessible with an internet connection, allowing users to perform various transactions such as withdrawals, transfers, and purchases securely.

He acknowledged the challenges of acceptance and network connectivity they have encountered. To address these issues, RCBank plans to launch USSD functionality that will work on all mobile phones, ensuring broader access to the Simkorpor service.

Bockarie said currently, approximately 20% of RCBank’s customer base is enrolled in Simkorpor, but the bank aims to increase this number to 50-70%.

In conclusion, Rokel Commercial Bank’s Simkorpor service has marked five years of success, transforming the financial landscape of Sierra Leone. With its widespread accessibility, convenience, and continuous enhancements, Simkorpor has revolutionized the way Sierra Leoneans conduct financial transactions, paving the way for a cashless future in the country.