Stanbic Bank ushers in new era of banking with digital account opening campaign

Stanbic Bank Uganda recently launched a suite of digital innovations designed to revolutionize the banking experience for both personal and business customers, highlighted by the “Kya Double with SupaDupa” campaign.

This initiative, launched at an event in Kampala, focuses on providing faster, easier, and more rewarding access to financial services through digital convenience, instant rewards, and seamless solutions.

According to Israel Arinaitwe, Head of Personal Banking, “Kya Double with SupaDupa” is a direct response to customer feedback gathered through social media, feedback sessions, and personal interactions.

“Listening carefully, the bank has developed features that align with modern banking needs. This includes speed, simplicity, and tangible rewards to those that will be depositing into their accounts regularly,” he stated at the launch event recently.

Paperless Account Opening in Under Five Minutes

The days of lengthy queues and cumbersome paperwork are over. Stanbic Bank now offers a fully digital account opening process, allowing customers to open a functional account in under five minutes, completely paper-free and free of charge.

This streamlined process is accessible through the Stanbic app, mobile banking, or online banking platforms. Once registered, customers can immediately send, receive, and deposit funds, making banking truly instant and frictionless.

Instant Loan Access and Enhanced Credit Solutions

Recognizing the urgent need for quick access to credit, Stanbic has significantly enhanced its loan offerings. Customers can now secure instant advances of up to UGX 5 million at any time. For larger financial requirements, digital loans of up to UGX 250 million can be approved in just two minutes, subject to meeting the necessary conditions.

Pomoja Account: Solutioning Single Member Companies

Addressing the specific needs of sole proprietors and single-member companies, Stanbic Bank unveiled the Pomoja Account portfolio. This fully digital solution allows business owners to open and access exclusive banking services without any associated costs.

Aaron Akampa, Head of Enterprise Banking, explained that the Pomoja account was developed based on customer feedback and government reports indicating the prevalence of single-member companies in Uganda. These business owners often face challenges with formalization and building a sufficient credit profile for loan eligibility.

“Our Pomoja account offers unique benefits tailored for this segment,” Akampa said. “It’s free to open, with an average balance requirement of just UGX 2 million, meaning no charges whatsoever. You can borrow up to UGX 200 million, thus opening new horizons for growth. It’s entirely digital, providing a seamless experience for small businesses to operate more professionally and efficiently.”

The Pomoja account aims to serve small businesses, particularly those in Kampala’s downtown area and other regions, eliminating the need for business owners to seek partners solely to meet banking requirements.

“Kya Double with SupaDupa”: Rewarding Customer Loyalty

To demonstrate appreciation for customer loyalty, the “Kya Double with SupaDupa” campaign will reward active customers with a range of benefits at the end of each month.

Sonia Karamagi, Head of Customer Experience, emphasized that “Every transaction, be it savings, deposits, or bill payments earns customers entries into weekly draws. Participants, whether new or existing, are eligible to win double their deposit amounts directly into their accounts. This is banking that pays you back instantly.”

Karamagi encouraged Ugandans to join the Stanbic family and benefit from the campaign. With a heritage spanning over 100 years, Stanbic Bank remains a leading financial institution with a nationwide network of 83 branches and over 7,000 agent bankers, providing a comprehensive and accessible customer experience.

Through these innovative digital solutions and the rewarding “Kya Double with SupaDupa” campaign, Stanbic Bank is solidifying its position as a forward-thinking institution dedicated to meeting the evolving needs of its customers and driving financial inclusion in Uganda.