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BRAC Uganda Bank looks to capitalise on Software Group tech

By , ITWeb
Kenya , Uganda , 26 Jan 2021

Nairobi-based global software firm Software Group has secured a new contract for its latest Agency Banking platform with BRAC Uganda Bank Ltd, a prominent financial institution in Uganda.

According to a statement released to the media, Software Group’s technology will support the Bank’s plans to extend its outreach to under-served areas through Agency Banking, “providing highly convenient, digital financial services closer to customers.”

The statement continues: “Adopting the market-leading Agency Banking platform, the bank will be offering a rich set of services, due to go live during the course 2021, available outside of normal office hours and close to where their customers are, providing greater convenience, boosting trust during the COVID era by reducing in-branch congestion, and mobilising customer deposits while at the same time reducing operational costs.”

The Agency Banking platform allows BRAC Uganda Bank Ltd. to scale its points of sale rapidly without investing in costly branch and ATM networks, as part of its financial inclusion agenda to engage with a wider customer base.

William Mawejje, Deputy CEO and COO for BRAC Uganda Bank Ltd., said: “We are delighted to partner with Software Group and leverage their market-leading Agency Banking Solution with financial support from World Saving and Retail Bank Institute (WSBI). Delivering financial services to 84 districts and over 200,000 microfinance members via our agent network helps save lives, to stop the spread of COVID and supports our sustainable development goals in Uganda.”

Craig Albertson, Business Development Director Anglophone Africa at Software Group commented, “We are proud to partner with BRAC Uganda Bank Ltd. in achieving their ambitious outreach goals and significantly enhancing customer experience. Moreover, utilizing digital solutions such as Agency Banking plays an essential role in preventing the spread of COVID-19, as it will avoid the need for the bank’s customers to queue in branch offices and help them manage social distancing.”

The companies believe Agency Banking to be one of the fastest growing digital financial channels in Africa “allowing banks to offer digital banking products and services (including phone top ups and bill payments for example) outside of traditional banks, through 3rd party vendors such as shops or roadside kiosks.”

According to Software Group, the Agency Banking solution is currently implemented in more than 15 countries across Africa.

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