Post Bank partners with MTN to target SACCOs with Wendi digital wallet
This multi function digital wallet can be downloaded from Google play store or accessed through USSD code *229#.
By Michael Kanaabi Dollar
With the penetration of banking services just reaching about 10% of the bankable population, and penetration of mobile financial services standing at 53% across the country, Post Bank and MTN Uganda decided to partner and come up with a new solution dubbed Wendi Digital wallet.
Post Bank Uganda CEO Julius Kakeeto while launching the application officially in Bukedea district recently applauded the effectiveness of the collaboration between Post Bank and MTN Uganda that created this revolutionary application.
“We are proud to be driving digital transformation in the banking sector and financial inclusion on the whole with the launch of this new application in partnership with MTN. This application which is going to work as a digital bank for SACCOs which are Post Bank customers and those that will join us shortly will ease withdrawals, deposits, transfer of funds and payment of utility bills like UMEME, National Water, school fees payments among other services” he said.
Kakeeto noted that each SACCO which is an account holder with Post Bank will be given a smart phone to ease it’s use of the new application and ensure members can be served remotely wherever they are even away from the bank’s branches, this will also go a long way in easing access to Parish Development Model funds which are currently dispersed by the government to communities and individuals that qualify through Post Bank among other commercial banks.
MTN Uganda CEO Sylvia Mulinge highlighted the launch of Wendi Digital wallet as being a milestone in their bid to grow digital payments and financial inclusion especially among the unbanked.
“ We have been champions of financial inclusion through out our journey as MTN in Uganda and are very proud of this new application created with Post Bank that will further this cause” she said.
Mulinge noted that they will continue championing financial inclusion as they roll out more innovative and convenient solutions for Ugandans as MTN.
Over 170 5G enabled smartphones were given out to SACCOs in Bukedea district as part of the pilot roll out of the Wendi Digital wallet with Post Bank pledging to avail all SACCOs banked with them with these gadgets to ease the flow of PDM funds and other resources to these groups.
Post Bank Uganda Chief Digital Services Officer and Executive Director Andrew Kabeera reassured customers that as part of their commitment to taking the lead in digital banking, they have built the Wendi wallet on a robust secure platform that emphasizes data privacy through encryption and a two factor authentication. “All this is meant to ensure customer data is safe and the digital services they are getting from the bank are very secure and not susceptible to fraud” Kabeera said.
As a result he urged all the bank’s customers especially those in rural areas and those far off from the nearest bank branches to adopt the Wendi wallet because it is convenient, affordable, secure with a limitless reach.
