PostBank Uganda, a financial institution that is committed to empowering lives and transforming livelihoods, has today, launched its new smart ATMs in a bid to get more Ugandans financially included through digitization.
With the smart ATMs, customers will now be able to deposit cash at the ATM with real-time credit to the account, make cardless withdrawals, and withdraw up to UGX. 3 million in a single transaction. In addition, a customer will instantly be issued a debit card upon opening an account.
Speaking at the launch of the smart ATMs, Julius Kakeeto, the Managing Director/CEO, PostBank Uganda remarked that the replacement of the Bank’s ATM dispensers with smart ATMs is part of PostBank’s digital transformation journey that began in 2020.
“New management resolved to kick start a digital transformation journey that would reduce on the long queues in branches and provide our customers with self-service solutions. As I speak today, only 40% of total customer transactions are happening over the counter in the banking halls. The rest of the transactions are digital and self-service.”
Kakeeto added that the smart ATMs are safe and secure and come with convenience as customers would be carrying out all transactions without the need to go to the banking hall.
PostBank has installed a total of sixty (60) smart ATMs at all its branches. This is the highest number of smart ATMs for any bank in the country. The ATMs are complimented by a network of 52 branches, 4 contact centers, PostApp, PostMobile, and PostAgents which are all intended at ensuring that customers enjoy their banking experience.
Kakeeto concluded by saying, “PostBank will continue with its digital journey by exploring innovations that drive financial inclusion and reduce the cost of banking.”
Rt. Hon. Henry Musasizi, the state minister for General Duties, Ministry of Finance, Planning and Economic Development lauded PostBank for ensuring that Ugandans no longer have to go through rigorous processes to access or move their money.
“It goes without saying that for a long time, a huge number of people, especially those in hard-to-reach areas, have been subjected to costly ways of making transactions, and with the current hike in fuel prices, the situation has not been any better. With PostBank’s smart ATMs spread across the country, the bank’s customers, including myself, get financial inclusion. Other forms of financial progress like cashless economies are also achieved.”
In December 2021, PostBank was granted a Tier One license to operate as a fully-fledged commercial bank, therefore, to stay efficient and competitive, the Bank is aggressively investing in technologies that meet customers’ evolving needs.