Ecobank pursues financial inclusion with Interswitch

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Ecobank has entered into a partnership with Interswitch to enhance digital banking services and financial inclusion across Uganda.

This followed the signing of a memorandum of understanding (MOU) between the two organisations recently.

Grace Muliisa, the Eco Bank’s managing director said the partnership will lead to leveraging Interswitch’s advanced payment infrastructure to provide Ecobank customers with access to a total of 650 ATM locations, among other key services.

“This strategic partnership will help us streamline and expand our financial service offerings,” she said during the signing of the MOU at their headquarters located at Katonga Road.

She noted that by joining forces, both institutions seek to improve payment efficiencies and broaden access to digital banking services for individuals and businesses.

“This will help boost our financial inclusion strategy, where we aim at wider access to banking services for underbanked communities. This will drive economic growth and inclusion by opening new touch points for Verve Card holders who are spread among numerous commercial banks, Savings and Credit Co-operative Society (SACCOs) as well as enterprises which include but are not limited to Fintechs,” she said.

Said Muliisa: “Our clients will have wider ATM access, so that they benefit from increased access to cash withdrawal and banking services through Interswitch-powered ATMs, even in regions where Ecobank has no physical branches.”

Sarah Komugisha, the Ecobank’s brand and communications manager said the partnership will also lead to expanded banking and payment services available through multiple platforms, like Automated Teller Machines (ATMs), mobile application services, interoperable acceptance of the Verve card from across the Interswitch partnership network.

Moris Seguya, the Interswitch Uganda country general manager said the partnership reflects the shared vision of Interswitch and Ecobank Uganda to enhance accessibility and convenience through advanced digital banking services.

“We remain committed to delivering innovative payment solutions that empower individuals and businesses with seamless financial services,” he said.

He said that by leveraging their respective strengths in this partnership, Interswitch and EcoBank are committed to running a mutually beneficial service which ultimately serves the customer efficiently and conveniently.

Ecobank Uganda is a subsidiary of Ecobank Transnational Incorporated, the leading Pan African Bank operating in over 35 African countries. The parent company of Ecobank Group is headquartered in Lomé, Togo, with local representative offices in Addis Abeba, Ethiopia and Johannesburg, South Africa.

Ecobank Group also has a banking license in France and international offices in Beijing, China; London, UK; and Dubai, the United Arab Emirates.

Ecobank began its operations in Uganda in 2019 and has 10 branches around Uganda.