Leo, the digital banker helping you transact

The new service that operates through Facebook will enable customers to open accounts and transfer money, among other services. PHOTO BY ERONIE KAMUKAMA

Kampala- “Welcome Kamukama. My name is Leo and I can help you send money, top up, check your account balance and much more. Let me know which country you are in so that I can serve you well. How can I help you?”

This conversation is almost similar to what transpires at a customer service desk in a banking hall or a customer care phone call. But this time, this interaction with your bank is different. It is over a social media platform.
The practice of delivering banking services via the internet has been around for years now.
Away from its known banking application, when United Bank of Africa (UBA) was looking for a new strategy to improve banking experience for potential and existing customers, Facebook, Whatsapp and Snapchat came to mind.
“Social media is fundamentally changing the way people communicate,” Ms Jackie Tumuhairwe, the UBA head marketing and corporate communication said yesterday at the launch of the bank’s chat banking platform in Kampala.
For the last five months, UBA has been working with Facebook and to create “Leo”, the UBA chat banker.

Ms Gloriaus Byaruhanga, the head of digital banking UBA said Leo is an artificial intelligence service and a personality designed to enable customers use social media to access banking services.

“Leo is operating a lifestyle banking platform on Facebook to assist with transactions while chatting with friends and business partners,” she said.

The chat banker as he is now known helps customers open accounts, transfer money to mobile money, provide a bank statement, top up airtime and lodge a complaint without stepping in a banking hall.

How Leo the banker works
Access financial services: UBA designed the chat banker to cater for masses that are unable to access financial services easily. The service is accessed through Facebook and Messenger through mobile phones.

However, customers will have to part with some cash for some of Leo’s services. “You will incur a cost when doing money transfers. For instance, all mobile money transfers are charged when withdrawing or sending to another number,” Mr Wejuli said.

Realising that technology is prone to fraudsters, the bank says it has put in place buffers to protect customer information.
“For any information we get through Leo, it is stored under our servers. Leo talks with our core banking system which is secured so whichever information you give, it is not on your Facebook account,” Mr Wejuli said.

Also, for every transaction, a onetime password is generated to the phone number registered on one’s bank account. Currently available on only Facebook, the app is expected to be integrated on other social media platforms in future.