Absa Bank Uganda opens its first digital branch in Kampala

November 15, 2019 in Business, Finance, Financial Services, Technology & Telecoms by Editor

Mahmood said the move is a change in strategy towards becoming a digitally led bank.

Absa Bank Uganda has completed its transition from Barclays Bank Uganda and opened its first digital branch in Kampala to add self-service as another customer option.

“Using these digital branches, we intend to enable our customers spend less time in queues by leveraging on modern technology to facilitate their banking. This change in strategy for us as a bank sees us become a digitally-led bank that focuses on redefining our customers’ banking experience,” Absa Bank Uganda managing director, Nazim Mahmood said in midweek.

He said the new branch in corporate red, will give customers more convenient, secure, personalized and an engaging banking experience that is faster and cost efficient. The bank has also announced the introduction of the Absa Chatbot, that gives customers access to unlimited replies to frequently asked questions on social media platforms and the Absa webpage. Absa currently has 39 branches and 76 ATM’s countrywide.

Located at the Jubilee Insurance Building on Parliamentary Avenue, the branch allows customers to deposit and withdraw money using intelligent ATMS, bulk cash deposits, pay utility bills while also carry out inter-bank and international funds transfers among other options.

Speaking at the official opening, Bank of Uganda executive director for supervision, Dr. Tumubweine Twinemanzi said the country’s banking sector is becoming more responsive to customer needs. Recently Absa Bank Uganda received its certificate from BoU to operate under its new name.

“Although digital banking reduces on the nature of human employment, the end result is offering reliable, more convenience to the customer which is what  modern banking is about, this branch is a great trend setter for banking in Uganda and we hope to see more innovations aimed at improving banking and promoting financial inclusion,” he said.

Absa Bank Uganda is a subsidiary of the Absa Group Limited, formerly Barclays Africa Group Limited, and originally Amalgamated Banks of South Africa, with corporate headquarters in Johannesburg.