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, after the launch of of the ZeroFlex account. The account was launched during a X (Twitter Space)
PostBank Uganda has introduced a revolutionary Self-Onboarding ZeroFlex digital account, enabling customers to self-register and access financial services anywhere, anytime, without visiting the bank premises. This innovative move aligns with the bank’s purpose of fostering prosperity for Ugandans and promoting financial inclusion.
“As a bank that is committed to enabling Ugandans to grow and prosper, introducing the ZeroFlex Account to the market symbolizes our commitment to design products that drive financial inclusion in line with Bank of Uganda’s financial inclusion strategy,” said Ibrahim Kato, Chief Retail Officer at PostBank Uganda.
The ZeroFlex account is a digital account that allows new or existing customers to self-register online, providing required information, including biodata, photos, and valid national identity or passport details. The process takes only 5 minutes, and upon completion, the customer is assigned an account.
“In terms of affordability, the ZeroFlex account has no maintenance fees, 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,” Kato added.
According to the 2023 Bank of Uganda (BoU) annual report, mobile money transactions grew from 156 trillion to 191 trillion, indicating a great opportunity for the banking sector to leverage digitization and drive financial inclusion.
“BoU’s 2023 annual report statistics indicate the 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 and businesses to 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.
