Businesses must stop viewing banks merely as institutions that process payments, maintain accounts and provide routine financial services, according to Stanbic Bank Chief Executive, Kwamina Asomaning, who believes companies should demand far greater value from their banking relationships as economic pressures and increasingly complex supply chains reshape the corporate environment.

He is urging businesses to expect more from their financial partners, including strategic advice, market intelligence, regional connectivity and practical solutions that can strengthen their competitiveness and support long-term growth.

Speaking at Stanbic Bank’s Transaction Banking Client Engagement Forum in Accra, Mr Asomaning argued that the traditional understanding of banking relationships was no longer sufficient to meet the demands of modern businesses.

The forum was held under the theme “Creating Value Beyond Transaction” and brought together clients and business stakeholders to examine how financial institutions could contribute more meaningfully to corporate growth.

“There was a time when banking relationships were defined primarily by transactions. Payments were processed, accounts were maintained, and trade instruments were issued. Necessary functions, certainly, but no longer sufficient in an environment marked by complex supply chains.”
Kwamina Asomaning

His remarks come at a time when businesses face mounting pressure to manage operational costs, maintain liquidity, respond to changing market conditions and identify new opportunities in an increasingly interconnected global economy.

Banking Must Go Beyond Processing Transactions

Mr Asomaning believes companies should reassess what they expect from their banks, particularly as the demands of running a business become more complicated.

Traditionally, businesses have measured banking relationships through the efficiency of payment processing, access to credit, account management and the availability of trade finance facilities.

However, the Stanbic Bank CEO argues that these services, although essential, represent only a fraction of what a modern banking relationship should deliver.

He said banks must become active partners in helping businesses make better financial and operational decisions. “The most valuable banking partner is not simply the institution that processes transactions efficiently. It is the institution that helps clients make better decisions,” the CE of Stanbic said.

This perspective places greater responsibility on financial institutions to understand their clients’ businesses, anticipate their challenges and provide solutions that address their actual needs.

It also challenges companies to look beyond the cost of banking services when evaluating their financial partners.

Businesses Must Demand Measurable Value

The Stanbic CEO also highlighted the importance of distinguishing between the price businesses pay for banking services and the actual value they receive.

Quoting renowned investor Warren Buffett, Mr Asomaning said, “price is what you pay, value is what you get.”

The statement captures an important consideration for businesses operating in an environment where every financial decision can influence profitability and competitiveness.

According to him, the real value of a banking relationship should be reflected in the expertise, connectivity and measurable outcomes that financial institutions bring to their clients.

“The true measure of a banking relationship is therefore not the volume of transactions processed, but the value generated through expertise, partnership and tangible outcomes.”
Kwamina Asomaning

This means businesses should assess whether their banks are helping them improve cash flow management, reduce operational inefficiencies, manage financial risks and identify opportunities for expansion.

A banking partner that merely executes instructions may fulfil basic obligations, but one that understands the commercial realities of its clients can potentially contribute much more to their success.

For companies facing tight margins and uncertain market conditions, such support could become an important competitive advantage.

Liquidity and Risk Management Take Centre Stage

Mr Asomaning further stressed that businesses needed to combine operational discipline with strategic decisions capable of protecting their competitiveness and creating sustainable value.

The increasing complexity of supply chains has made financial management more demanding, particularly as companies deal with multiple suppliers, customers, currencies and markets.

Delayed payments, liquidity constraints, changing trade conditions and unexpected disruptions can quickly affect business operations.

Banks, therefore, have an opportunity to help companies strengthen their financial positions through better liquidity management, improved efficiency and stronger risk management practices.

This requires financial institutions to understand more than the transactions passing through their clients’ accounts.

They must also appreciate the commercial pressures behind those transactions and provide relevant solutions that support business continuity.

The approach could prove particularly important for businesses seeking to expand their operations while maintaining sufficient financial flexibility to withstand unexpected shocks.

Stanbic Banks on Its African Network

Beyond its local banking capabilities, Mr Asomaning highlighted regional connectivity as another important advantage businesses should expect from their financial institutions.

As Ghanaian companies increasingly explore opportunities across Africa and other international markets, access to reliable banking networks and cross-border expertise is becoming more important.

He noted that Stanbic Bank, as a member of Standard Bank Group, operates within a network spanning 21 African markets.

According to him, this regional footprint provides the bank with a broader understanding of developments affecting trade, investment and business expansion across the continent.

“That footprint gives us a unique perspective on the forces shaping trade, investment and business growth across Africa. It allows us to identify opportunities, anticipate risks and understand emerging trends, not in isolation, but as part of an increasingly interconnected commercial ecosystem.”
Kwamina Asomaning

The regional presence, combined with local market knowledge and cross-border relationships, could help Ghanaian businesses make more informed decisions when entering unfamiliar markets.

Access to such networks can also provide companies with insights into emerging commercial opportunities, potential risks and the financial requirements associated with expanding beyond their domestic markets.

A Changing Relationship Between Banks and Businesses

The discussions at the forum covered trade finance, payments, custody services and channel solutions, reflecting the expanding expectations businesses have of financial institutions.

As competition intensifies and companies pursue growth opportunities across borders, banking relationships are increasingly being judged by their ability to deliver practical solutions rather than simply execute transactions.

Mr Asomaning’s call places the responsibility on both sides of the relationship. Banks must demonstrate a deeper understanding of their clients’ needs, while businesses must become more deliberate in assessing the expertise and strategic support they receive.

Ultimately, the future of corporate banking may depend increasingly on how effectively financial institutions translate their capabilities, networks and market knowledge into tangible business outcomes.