Sibton Switch Systems (SSS) is a wholly owned subsidiary of Sibton Communications LTD and was incorporated in August 2015 with a goal to implement and manage retail payment system infrastructures for banks and non-bank financial institutions in Ghana. We desire to help the financial institution to transform their services by reducing the Complexities of regulatory reforms and shape the future of financial platform through technology solutions. We aim to check financial institutions liquidity, exposure and compliance to reflect their goal in business and risk in funds management. We work to automate compliance monitoring processes and system to provide Integrity and Security.
We capture, prevent and investigate fraud due to noncompliance and untimely, Actionable Intelligence for enterprise business management. Regulatory compliance framework and Integrate financial platforms, related technology services, and Information Security. Banking and financial Service in the world are changing needs to meet new demands of clients at the minimum cost possible. Check financial institutions liquidity, exposure, and compliance to reflection their business goals and risk in funds management. Capture, prevent and investigate fraud due to noncompliance and untimely, Actionable Intelligence for enterprise-business management. In general, the most popular form of E-payment service is money transfer. The trend is for users in urban areas to transfer funds to recipients in rural areas. Other typical services include the purchase of mobile phone airtime, goods, and services through electronic transfer of money from user’s wallet to the merchant’s account. The majority of Ghanaians lack any formal bank account. An estimated 80 percent of Ghanaians are “unbanked” – meaning they conduct their transactions outside the banking sector with no access to financial services. Products like “mobile money,” that enable safe and secure money transfers without the use of a bank account, could have a major impact on this unserved segment of the population. Mobile money gives anyone with a mobile phone the ability to transfer money, make cash or receive payments and conduct other financial transactions over the phone.
The introduction of mobile money service is taking place in isolation but in parallel with the advent and expansion of other financial electronic and non-electronic payment services. Research on m-commerce in Kenya, Tanzania, South Africa, the Middle East and Asia revealed that a recurring challenge in all these countries has been how to effectively regulate the different financial service providers under a single platform. The research further revealed that lack of single window platform has always exposed clients to numerous extortions and poor service quality by service operators. Thus, to accommodate the rapidly increasing volume of electronic and non-electronic transactions it is necessary to have a secure and efficient e-payment infrastructure in place. An important infrastructural component to facilitate the electronic transactions is the establishment of a payment gateway. The payment gateway is an e-commerce application service provider to authorize payments of e-businesses by acting as an intermediary between an acquiring institution and the issuing institution. The entire process of authorizing an e-transaction is completed within a few seconds.