dfcu Bank has announced new enhancements to its Agent Banking and Mobile Banking (dfcu QuickBanking) platforms to allow Airtel Money Agents to purchase float at no cost through any dfcu Bank Agent and Branch network. Additionally, float can be purchased through the Bank’s online Banking channels; QuickBanking for web transactions and the Mobile Banking QuickApp.
Under its umbrella campaign ‘Banking at the Speed of u!’, the Bank has committed to delivering and enhancing several products and services on its path to becoming a next-generation Bank (Bank 4.0).
Lloyd Jonathan Busuulwa, Head Alternative Channels at dfcu Bank remarked that partnerships with other players in the Financial Services sector are a quick and efficient route to closing the financial gap across the country. The alternative banking channels provide convenience and accessibility thus enhancing the customer experience.
“We have made huge investments in systems and platforms to facilitate the accessibility of our products and services and convenience to improve customer experiences. We are continuously enhancing our core banking platform; to allow for agility and greater scalability needed in addressing the everchanging needs of the customers with a focus on greater functionality,” he remarked.
“Mobile money and a blend of formal and semi-formal financial services have driven up Uganda’s financial inclusion rate at 78 per cent, the second highest in East Africa after Kenya at 83 per cent (BoU, 2020). Improving our services and products daily to meet our varied customer demands is at the heart of all our innovations. Mobile money and agent banking provide a great opportunity to reach all Ugandans in hard-to-reach areas,” Llyod added.
How does AIRTEL float purchase at dfcu Agent work?
How to purchase Airtel Float using dfcu QuickBanking:
dfcu Bank is committed to contributing to the growth of alternative banking channels, especially in mobile and agent banking. Currently, the bank works with over 1,000 agents across the country.
According to the Bank of Uganda Quarter Financial Stability Review report 2021, the value of mobile money transactions grew by 32.1 per cent to USh.101.5 trillion, while the number of registered mobile money accounts rose to 30.9 million as of end-March 2021 compared to 28 million as at end-March 2020. Similarly, the number of active users on the internet and mobile banking grew by 16.7 per cent and 20.1 per cent, respectively. This is an opportunity for the bank to continue innovating and enhancing products and services to meet the growing need for alternative channels of banking.