The Head of Digital Transformation at Prudential Bank Ltd, Terrance Addy, has said, that the future of banking will be defined by AI-driven services and hybrid models that balance seamless digital experiences with human trust.
In the near future, “Where do you bank?” will be the wrong question. The right one will be: “How do you bank?”. That’s the shift Mr. Addy says will define the next era of financial services.
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Speaking in an interview on the future of banking in Accra, Addy laid out a vision where customer experience, not loyalty to institutions, becomes the core of the competition.
Customers will engage each other based on experiences, how seamless it is to transact and how fast it works, and not necessarily the institution behind it,” he said.
Embedded, Invisible, Predictive
At the centre of Addy’s forecast is embedded finance: banking that is woven into shopping, travel, and bill payments until it feels invisible. “The banking part should be so seamless it becomes almost invisible. That is the goal,” he noted.
Artificial intelligence will drive hyper-personalization. Services will anticipate needs rather than waiting to be requested. “Your bank will know you are planning a trip and automatically offer travel insurance or foreign exchange. That is the ‘how’, and not the ‘where’,” Mr. Addy explained.
Digital Push, Physical Anchor
He noted that despite the digital trajectory, Prudential Bank is doubling down on a hybrid model offering the best both the digital and physical experiences. Physical branches remain critical for trust, onboarding, and inclusion.
“As much as services are accessible anytime and anywhere, there must still be room for physical presence,” He stressed. A full move to digital-only banking risks cutting off older customers and small businesses, some of whom value face-to-face service.
Some customers feel safer walking into a branch and speaking to a familiar face. That peace of mind cannot be replicated by an app,” he added.
With 39 branches nationwide, Prudential Bank is repositioning these locations as experience centers and community hubs; places to learn digital tools, attend workshops, and engage beyond transactions. “Branches are evolving into places where customers learn and engage, not just transact,” he said.
Late Start, Fast Catch-Up
Addy was candid about Prudential Bank’s digital journey. “Compared to others, we were late to the digital party”, he admitted. The bank, however, leaned on fintech partnerships as its strategy, to close the gap quickly without heavy build costs.
Partnership was our strategy — especially with fintechs — to quickly bridge the digital gap and move faster,” he said. Internally, we invested in core infrastructure and talent, positioning teams as innovation drivers.
“Our focus has been to become an enabler for service innovation. The result: a suite of digital offerings including USSD banking, mobile and internet banking platforms, GHQR integration, and PAPSS-enabled services”, he noted.
Usage is the Real Battle
For Addy, “Launching a digital product is only half the battle; ensuring customers use and enjoy it is the real challenge,” he said.
Prudential Bank relies on analytics and real-time feedback to refine our digital platforms. Usage patterns show what’s working and what needs fixing.
We gather data on how customers interact with our platforms and respond quickly to their feedback,” he explained. “When customers use our platforms repeatedly, it means we have earned their trust.”
Message to Late Movers
To institutions still hesitant on a digital journey, Addy’s advice was blunt: move, and move with purpose.
Hope is not lost. You do not have to invent everything; use what works, adapt quickly and move with purpose,” he said.
Success, he argued, will not be measured by who started first. “The real question is no longer where you bank, but how well your bank serves you and we intend to give our customers the world class hybrid services they deserve.
