Uganda's Housing Finance Bank opens branch services through 23,000 Quickteller agents
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Housing Finance Bank has plugged into Interswitch's Quickteller agent network, giving mortgage and savings customers deposit and withdrawal points across Uganda after a pilot that moved more than Shs49 billion.
Housing Finance Bank customers in Uganda can now deposit and withdraw money and check balances at Quickteller agent outlets, after the mortgage lender formally launched an agency banking partnership with payments firm Interswitch on 4 November at its head offices in Kololo, Kampala.
The arrangement is intended to bring banking closer to customers and reduce dependence on traditional branches. Housing Finance Bank chief operations officer Robert Kusiima said the partnership had already handled transactions worth more than Shs49 billion during its pilot phase, and described the volumes as evidence of the potential of agency banking to reach people who struggle to get to a conventional branch.
"We want to drive financial inclusion by reaching out to the last mile customers who might not be able to access conventional banking," Kusiima said, adding that secure transactions were a priority as the bank extends into underserved communities.
Interswitch Uganda country general manager Moris Seguya said adding more institutions to the network would widen access for customers while increasing transaction volumes for small businesses running agent outlets. Housing Finance Bank's head of distribution and alternate channels, Ivan Kakembo, said customers would be able to use services through approximately 23,000 Quickteller agents spread across the country.
Agency banking has become a key channel for lenders seeking to serve lower-income and rural customers without building branches. Interswitch has been expanding its Quickteller agent network across urban centres, towns and rural trading areas, and the two institutions say the arrangement will extend formal banking to communities where branch access remains limited.