Dfcu has said technology will continue being the driving force in their operations in the new year 2023.
“We saw a significant migration in 2021 and 2022 of customers moving from traditional to online banking and our operations you will notice went up with one of the biggest spikes in 2021. We still think technology will continue to play a big role in our operations,” Robert Wanok, the head of personal and business banking at Dfcu told journalists on Wednesday.
A quarterly financial stability review report released by the BoU in September last year indicated that the use of digital payment systems in the country had continued to grow for both mobile money service providers and supervised financial institutions .
The report by the central bank indicated that internet and mobile banking fund transfers had risen significantly with a large portion of digital payments recorded through debit cards and points of sale as the country moves towards a cashless economy.
Last year, Dfcu announced it had entered into partnership with Irish-owned global banking software company, CR2 which will among others see the bank upgrade its ATM cards and other digital payment platforms.
Speaking on Wednesday, the head of business and personal banking at Dfcu said the bank will continue on this journey.
“Technology will continue to play a key factor in our operations. We still think technology will play a big role when it comes to credit and lending options.”
At the same occasion, the bank launched a 12 week campaign where it will provide credit to customers both in individual and entity capacities.
“In the space of the personal banking customers, they should expect a boost to their dreams and aspirations for the year with up to shs250 million unsecured loans with an opportunity to take 75 days of payment holiday. This holiday is meant to enable customers do all the other things and take this as grace period to put their plans into place,” Robert Wanok, the head of personal and business banking at Dfcu said.
The repayment holiday option will allow customers to take a break from scheduled loan repayments during the campaign period.
Dfcu officials said the personal loan offer targets the salaried and professionals earning a regular income.
The bank also unveiled a special package to support schools as they prepare to receive students for the new academic year.
The offer dubbed “the school bridging overdraft’ allows school owners to access unsecured short-term facilities of up to 30% of their expected school fees collections, to take care of urgent working capital needs.
Robert Wanok, the head of personal and business banking at dfcu sank, said the campaign has been launched to accelerate the dreams and aspirations of our customers during the new year.
“The new year always represents new beginnings for most people. Renewed hope, dreams, ambitions, targets, that we want to see come to life. With “Reach for More” campaign, we are encouraging our customers not to lose sight of these dreams but instead partner with us to see them come true. We are staying true to our brand promise .”
Ronald Kasasa, the head of business banking at Dfcu , reiterated the bank’s support towards schools during this back-to-school period.
“The beginning-of-term can be a tough period to run an institution within the education sector. Teachers’ salaries, food supplies, utility bills, scholastic materials, and any other day -to day essentials can put a strain on schools. Our school bridging overdraft allows school owners to access unsecured short-term facilities of up to 30% of their expected school fees collections, to take care of urgent working capital needs. The overdraft is payable in three months, and this gives an opportunity to the school to repay when the cash flows from tuition collections are steady and stable,” he said.
