Proof of Usefulness Report

UT Bank Ghana

Analysis completed on 2/1/2026

+9
Proof of Usefulness Score
You're In Business

The submission describes UT Bank Ghana, a financial institution that was declared insolvent and had its license revoked in 2017. As the entity no longer operates and has been taken over by GCB Bank, it possesses no current real-world utility, active user base, or market relevance as a technology project. The submission accurately describes the bank's demise but claims of current traction are invalid.

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Score Breakdown

Real World Utility+10
Audience Reach Impact+10
Technical Innovation+5
Evidence Of Traction+5
Market Timing Relevance+0
Functional Completeness+40
Subtotal+8.5
Usefulness Multiplierx1.08
Final Score+9

Project Details

Project URL
utbankghana.com
Description
UT Bank Ghana was a financial institution based in Ghana, primarily engaged in providing banking and financial services. The bank offered a range of services including personal banking, business banking, loans, and investment products. UT Bank was known for its focus on small and medium-sized enterprises (SMEs) and aimed to support the growth of businesses in Ghana. However, in 2017, the Bank of Ghana revoked UT Bank's license due to insolvency, and its operations were taken over by GCB Bank. As a result, UT Bank Ghana no longer operates as an independent entity.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline