Business
Post Bank launches mobile digital banking platform
Ibrahim Kato (R) the Chief Retail Officer at PostBank Uganda, Priscilla Akora (C), Head of Marketing and Communications at PostBank Uganda and Adons Aryong (L) Head of Data Analytics and Retail Products
PostBank Uganda has introduced its digital banking platform dubbed ZeroFlex digital account, to spur financial inclusion.
The ZeroFlex account, whether for existing or new customers, involves online self-registration by providing necessary information.
This process allows users to manage financial transactions remotely.
Ibrahim Kato, Chief Retail Officer at PostBank Uganda, highlighted that the initiative aims to promote prosperity among Ugandans by offering convenient banking solutions accessible anytime, anywhere.
“As a bank that is committed to enable Ugandans to grow and prosper, introducing the ZeroFlex Account to the market symbolizes our commitment to design products that drive financial inclusions in line with Bank of Uganda’s financial inclusion strategy for Ugandans to have access to and use a broad range of quality financial services.” Kato noted
He said: “In terms of affordability, the ZeroFlex account has no maintenance fees, adding that one can get free monthly statements and there are no balance inquiry fees with seamless integration with their mobile wallet and the convenience of 24/7 access to a customer’s account.”
According to the 2023 Bank of Uganda (BoU)annual report, mobile money transactions grew from 156 trillion to 191 trillion which indicates the opportunity to exploring alternative banking channels where customers can conduct bank to wallet transitions.
“There is a great opportunity that the banking sector can leverage if services and products are digitized so that we can drive the financial inclusion agenda to enable individuals access affordable financial services through platforms like ZeroFlex so that we have a good number of our people participate in activities that boost our country’s social economic development,” Kato concluded.
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