Ibrahim Kato (right), the Chief Retail Officer at PostBank Uganda; Priscilla Akora (center), Head of Marketing and Communications at PostBank Uganda; and Adons Aryong (left), Head of Data Analytics and Retail Products, after the launch of the ZeroFlex account during a Twitter Space event.
KAMPALA – PostBank Uganda has introduced the groundbreaking Self-Onboarding ZeroFlex digital account, empowering customers to self-register and access financial services from anywhere at any time without needing to visit a bank branch. This initiative aligns with the bank’s mission to foster prosperity for Ugandans and enhance financial inclusion.
“As a bank dedicated to supporting the growth and prosperity of Ugandans, the introduction of the ZeroFlex Account underscores our commitment to designing products that promote financial inclusion in line with the Bank of Uganda’s financial inclusion strategy,” stated Ibrahim Kato, Chief Retail Officer at PostBank Uganda.
The ZeroFlex account allows both new and existing customers to self-register online by providing necessary information, including biodata, photos, and valid national identity or passport details. The entire process takes just five minutes, after which the customer is assigned an account.
“In terms of affordability, the ZeroFlex account has no maintenance fees, offers free monthly statements, and incurs no balance inquiry fees. It seamlessly integrates with mobile wallets, providing the convenience of 24/7 access to the customer’s account,” Kato added.
According to the 2023 Bank of Uganda (BoU) annual report, mobile money transactions increased from 156 trillion to 191 trillion, highlighting a significant opportunity for the banking sector to leverage digitization and advance financial inclusion.
“BoU’s 2023 annual report statistics reveal a tremendous opportunity for the banking sector to drive financial inclusion by digitizing services and products. Platforms like ZeroFlex enable individuals and businesses to access affordable financial services, thereby contributing to the socio-economic development of our country,” Kato concluded.
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