November 7, 2018—Uganda’s second biggest bank by assets, dfcu Bank, has plans to raise the profile of its digital services with the overall intention of improving operational efficiency and reduce the cost of intermediation.
“We will be launching an Intelligent Branch prototype before the end of this year. The Intelligent Branch is a fully-fledged self-service branch will be open twenty four-seven, 365 days a year,” William Sekabembe, dfcu Chief of Business and Executive Director said in a recent interview.
He said the Ugandan banking sector is going through a digital transformation and commercial banks are looking to leverage this enabler to maintain the competitive edge in the market.
“The pace of digital adoption over the past two years has surpassed expectations and this trend is likely to accelerate further. The increasing role of technology has heightened customer expectations and transformed the way customers interact with financial institutions,” he said.
With an asset base approaching a billion US dollars and a million customers, dfcu Bank presently has 65 branches spread across the country.
He said dfcu Bank are exploiting technology to improve our operations efficiency, increase our customer touch points and further deploy data analytics to roll out products and offer services that respond to the ‘Voice of the Customer’.
He said, “Our transformation journey from traditional to digital banking has taken the Omni-Channel direction; a multi-channel approach to customer service where all the alternate business channels are strongly integrated, keeping the customer at the centre of the integration; offering the same user experience, with transaction security (cyber security) at the core.” Omni-channel is a multi-channel sales approach that provides the customer with an integrated customer experience.
“We will also continue to focus on efficiency by implementing simpler and leaner processes todeliver financial solutions faster and in a cost-effective way. To this end several of our operational, credit and on boarding processes are being automated with the objective of increasing transaction velocity,” Sekabambe said.