NSSF partners with DFCU to use agency banking for social security transactions

The National Social Security Fund (NSSF) has unveiled the agency service that will enable its members to make their social security transactions at the nearest agent in their neighborhood without visiting the fund offices.

Speaking at the function to unveil the service, the NSSF Managing Director, Richard Byarugaba said the latest development is part of their efforts further ease access to their services.

“We have a branch network of 19 branches serving over 2 million customers. With this service, it means that NSSF Customers don’t need to travel long distances to access our offices, but can make transactions at the nearest bank agent at flexible working hours,”Byarugaba said.

In addition, the service is expected to reduce the fund’s operation and administrative costs especially in the establishment of temporary service centers where it doesn’t have a footprint.

The service is in partnership with DFCU Bank and the Agent Banking Company (ABC) Limited.

DFCU will provide its bank agents to facilitate the NSSF transactions countrywide while the Agent Banking Company provides the technology that links all bank agents countrywide.

Mathias Katamba, the DFCU Bank Managing Director said the service is in line with their strategy to increase financial inclusion in the country.

“We are proud to be the first bank to partner with NSSF on this front. Adding social security transactions to our list of financial services through the agency banking model, gives us an opportunity to further extend more financial services, more conveniently, to our customers, the underbanked or unbanked population. Partnerships such as this one with NSSF are a testament to our commitment on delivering on DFCU’s brand promise of making more possible,”Katamba said.

“We are happy to add another service to the shared agent banking platform and ultimately supporting agents earn more from their businesses. This interoperable technology platform is safe, quick and convenient and we pledge to ensure the selected agents for the service adhere to the confidentiality clauses in this partnership in order to safeguard the NSSF member data,” said Richard Yego, the ABC (U) Ltd Chief Executive Officer, Richard Yego.

According to the NSSF Managing Director, Richard Byarugaba, for now, members can only be able to submit their NSSF contributions at the 300 dfcu agent locations but in the near future, the agents will provide other NSSF services like employer and individual or employee registrations.

“Other NSSF collection channels for contributions available to customers include the E- collections Portal that allows employers to remit their employees’ contributions directly to their NSSF accounts through the Bank, the Mobile Money Platform for contributions paid by the Fund’s Voluntary savers, the NSSF Go App and NSSF Payway,”Byarugaba noted.