News

Centenary Bank Introduces WhatsApp Banking in Uganda

Centenary Bank, which serves over 2.4 million customers in Uganda, has launched the CenteWhatsApp banking platform that offers customers instant access to various banking services via WhatsApp.

Centenary Bank Introduces WhatsApp Banking in Uganda

Ugandan Centenary Bank has enabled the new CenteWhatsApp banking service. It enables users to avail several banking tasks via the popular WhatsApp messenger. These include checking account balances, transferring money, paying bills, receiving real-time notifications, and applying for a mobile loan up to UGX 5 million ($1,307.76).

To access the new offering, Centenary Bank clients must save the bank’s verified WhatsApp number, 0744 200 555, in their phone contacts. By sending a message to the contact, they’ll activate a menu, allowing the customer to select the service they require and follow the prompts to finish the transaction.

Additional security is provided by One Time PIN (OTP) sent to the customer’s registered bank number.

The World Population Review reports that 4.5 million Ugandans use WhatsApp. The popularity of this mobile service has prompted the bank to provide its customers with more flexible banking options and potentially expand its reach to the new mobile-oriented target audience.

Furthermore, according to the bank’s Managing Director Fabian Kasi, WhatsApp Banking is an incredible opportunity to offer everyone easy, secure, and accessible banking solutions through a recognisable and easy-to-use interface. The organization welcomes innovations in the banking industry, changing its operations in alignment with the technology advancements and shifting consumer preferences.

The new service enables users to manage their finances via instant messaging on the go. In case a complaint is registered, CenteWhatsApp will offer prompt automatic responses along with the opportunity to speak with a call centre representative.

Different types of WhatsApp banking or payments have been earlier introduced in Brazil, India and Singapore. In India, Meta and Jio Platforms have also launched grocery shopping on WhatsApp.

Nina Bobro

1379 Posts 0 Comments

https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.