Grace Ashiru
Centenary Bank, a leading commercial bank in Uganda, has recently launched CenteWhatsApp banking, a convenient platform that provides customers with instant and secure access to a wide range of banking services through WhatsApp.
With CenteWhatsApp banking, customers have the convenience of performing a range of tasks including checking their account balances, making money transfers, paying bills, receiving real-time notifications, and even applying for a mobile loan of up to UGX 5 million ($1,307.76). Accessing this service is simple – users just need to save the bank’s verified WhatsApp number, 0744 200 555, in their phone contacts and initiate the process by sending a message. A user-friendly menu will then appear, allowing customers to select their desired option and effortlessly complete their transactions.
A One Time PIN (OTP) sent to the customer’s registered bank number is essential for securing all transactions within the CenteMobile banking service.
This strategic move aims to capitalize on the widespread use of WhatsApp, enabling a broader audience to access banking services through the messaging app on their mobile devices. Users can conveniently conduct transactions at their preferred time and location.
In Uganda, it is projected that 7.48 million people will be online by 2024, representing 14.99% of the total population. The World Population Review indicates that 4.5 million Ugandans use WhatsApp, while 34% of the population had a bank account as of 2023.
The launch of WhatsApp Banking, as stated by Managing Director Fabian Kasi, presents an exceptional opportunity to provide easy, secure, and accessible banking solutions to all individuals.
Kasi noted that the widespread use of WhatsApp provides a familiar and user-friendly interface, allowing users to conveniently manage their finances through instant messaging. In case of any issues, users can expect timely responses and have the option to speak with a call center representative.
The managing director emphasized the bank’s commitment to embracing innovations in response to the evolving banking industry, driven by technological advancements and changing consumer preferences.
This strategic initiative is in line with a Juniper research study, which predicts that by 2026, 53% of the global population will utilize digital banking services, marking a substantial increase from 2.5 billion users in 2021 to over 4.2 billion.
Centenary Bank reports an asset base of UGX 5.5 trillion ($1,442,039,500) and serves more than 2.4 million customers through 79 branches, 205 ATMs, over 7,000 agents, and various digital channels, including CenteMobile banking, CenteOnline banking, CenteVisa debit and prepaid cards, and the Mastercard Platinum debit card.
