With over 35 branches and an operational presence in over 47 districts, Post Bank serves 270,000 customers and has a deposit base of 41 Billion and a Loans portfolio of 20 Billion. Post Bank is owned by the Government of Uganda and is part of the government’s nationwide plan to maximize financial inclusion in the country by reaching out to the unbanked segment of the population.
This strategic initiative for the country and industry required a technology which offered the long-term value, agility, and robustness to handle such an initiative. Avanza Solutions has been present in the Ugandan market for quite some time and holds 60% of the market share. With its established brand in the market and the technological edge of its Vision – Prepaid Card Solution, Avanza won the project that is of a very high strategic value.
Through Vision, Post Bank will be able to roll out prepaid debit cards for consumers that can be used at all existing ATM networks across Uganda. Vision ensures highest level of compliance with central bank regulations around KYC, fraud prevention, and anti-money laundering.
“This is a very important time for us not only as an organization but also as a country; with this initiative we will be able to bring a whole new segment into our fold, leading to increased financial transparency and efficiency. We are pleased to have signed with Avanza to provide us the technology to implement this national initiative.”
Mr. Stephen N. Mukweli – Managing Director – Post Bank