First digital banking outlet launched

The board chairman Standard Chartered Bank, Mr Robin Kibuuka signs as the director supervision Bank of Uganda, Dr Tumubweine Twinemanzi (L), Vivo Energy Managing Director, Mr Gilbert Assi (2nd R) and Stanchard Chartered Bank chief executive officer, Mr Albert Saltson observe. Photo by Christine Kasemiire

What you need to know:

  • Mr Innocent Wemesa, the bank’s manager digital banking said Stanchart has incorporated strong security measures to prevent risks that could arise from using the digital outlet.
  • The digital outlet will use a one-time password at each transaction, privy to only the registered telephone number of the user.

A memorandum signed by Standard Chartered Bank and Vivo Energy to create additional points of distribution has culminated into a launch of the first digital outlet in Uganda.
The digital outlet, operationalized to avail real time 24 hour cash deposits through a cash deposit machine will also self- service enabled cash withdrawals, funds transfer and bills among others.

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