Stanbic touts digital platforms to ease fees payments

September 23, 2019 in Finance, Financial Services, Opinion by Editor

Kyolaba said parents can now pay schools fees using digital options from their phones or online which are much more convenient.

September 23—For any parent, especially those with more than one child, the thought of paying schools fees to multiple schools can be a chore writes Milly Kyolaba.

All parents dread the idea of having to stand in endless queues at a bank branch and long to have easier and more convenient ways to pay school fees without any hustle.

Today things have changed, and parents can now pay schools fees using digital options from their phones or online which are much more convenient and affordable.

Digitization of financial services is changing the way we do almost everything including management of our children’s educations and the overall fees payment experience. It is now possible to pay fees, shop, arrange transport and confirm payments without leaving the comfort of your home.

As a leading financial services provider, Stanbic Bank Uganda has introduced innovative digital school fees payments solutions aimed at easing how parents can pay fees. Schools embraced the idea very quickly and it has delighted many parents as well.

Parents can pay school fees using Stanbic’s digital channels such as mobile banking *290#, online banking as well as using Stanbic agents across the country. We have also partnered with Mobile Network Operators to enable school fees payments through Mobile Money using FlexiPay and SchoolPay.

The schools, on the other hand, get the benefit of being immediately notified when a school fees payment is made. In addition the system allows for automated reconciliations of collections which helps eliminate forgeries and reduce on wasteful administrative costs such as paperwork. This means the parent and student doesn’t have to come to school with a printed receipt or deposit slip to confirm they have paid.

The Uganda Bankers Association has also rolled out the Agent Banking Company with agent outlets strategically located across the country enabling us to serve as many customers as possible. With a network of over 1000 Agents, all members of the public can access several banking services. Customers with cash can also pay their school fees at any of the Stanbic Bank agent nearest them without necessarily owning a bank account with us.

Therefore, anyone can make their payments conveniently without having to queue at the bank. The common services offered on Agent banking are; school fees payments, utility payments, cash deposits, cash withdrawals and account opening. Stanbic Bank has over 1,000. All these agents have been adequately trained to provide banking services consistent with that offered in the banking halls.

Milly Kyolaba is the Head Public Sector at Stanbic Bank Uganda