John B. Kaweesi, Housing Finance Bank’s Head of Mortgages and Consumer Banking
Aware of the stark reality that the global economy is increasingly getting digitized, Housing Finance Bank is setting the pace in Uganda through their digital campaign that comes with incentives for customer adoption to mobile banking, e-commerce & other related services. In an exclusive interview with John B. Kaweesi, the bank’s Head of Mortgages and Consumer Banking, had this to share on innovations at HFB.
What inspired Housing Finance Bank to launch the “Double the Joy this Christmas” campaign, and what can customers expect from it?
We are excited about our campaign, “Double the Joy this Christmas,” which is inspired by our purpose of financing a sustainable future for all. Sustainability is integral to our mission, and we believe in offering convenient, affordable, relevant, and empowering solutions. Through this campaign, we are not only enhancing customer experience but also giving back to our customers with exciting prizes like data, headphones, speakers, hoodies, fuel vouchers, and cashback rewards. We invite our customers to participate in this festive season and enjoy these benefits, while our digital products make transactions seamless and accessible.
How do Housing Finance Bank’s digital channels enhance customer convenience during the holiday season?
Our digital solutions allow customers to bank from anywhere. These include mobile banking (HFB App and USSD), internet banking (for both individuals and businesses), and card services such as e-commerce and at POS transactions. Customers without smart phones can simply *225# USSD code, to access their Bank account and transact from the comfort of their homes. We would also like to encourage our customers interested in depositing or withdrawing cash as well as other payments to utilize agent banking network that covers over 1,300 locations nationwide. These options mean customers don’t need to travel to a physical branch and can instead enjoy secure, convenient, and cost-effective banking on the go.
What rewards and incentives can customers earn by using Housing Finance’s digital channels this Christmas?
Customers can enjoy a variety of incentives, as mentioned earlier, including a 5% cashback on Point-of-Sale machines and e-commerce transactions above Sh200,000, as well as weekly prizes for active use of our digital channels. This cashback applies to transactions via mobile and internet banking as well. The more customers transact, the higher their chances of winning these rewards.
What makes Housing Finance Bank’s digital banking experience stand out compared to other financial institutions?
Our digital banking platforms focus on simplicity, speed, and security. We prioritize an intuitive user experience and have streamlined the transaction process to make banking easy and enjoyable for everyone. Additionally, we offer a highly secure environment for transactions, ensuring that our customers’ money is safe. This combination of user-friendly design, transaction speed, and robust security sets us apart in the market.
How is Housing Finance Bank supporting new users or those unfamiliar with digital banking services?
We understand that some customers may prefer traditional banking methods, so we offer a variety of options, including our short code *225# for those who prefer not to use apps. We’re also actively educating customers about the benefits of digital banking and offering hands-on support to help them transition. Our goal is to give customers the choice and support they need to feel confident while using our digital or self-service platforms. For the new customers, we provide instant card issuance, both debit and prepaid.
What feedback have you received from customers, and how has it influenced the current campaign?
Our customers have provided overwhelming positive feedback about the simplicity and convenience of our digital platforms, with about 85% of transactions now being processed via digital or self-service channels, thus leaving only 15% in branches. This response motivates us to keep improving and to continue educating customers on the benefits of digital banking. We hope to increase digital transactions to 90% by year’s end, empowering customers and maximizing convenience for them.
How long will the “Double the Joy” campaign run, and how can customers maximize their rewards?
The campaign will run through December 2024. Customers can increase their chances of winning by frequently transacting on our self-service channels. For instance, a transaction of Sh200,000 or more on POS or e-commerce earns a 5% cashback. By transacting daily and meeting the minimum transaction amounts, customers stand a chance to win prizes on a weekly basis.
What role does digital banking play in helping customers manage their finances effectively during the festive season?
Using digital banking channels allows customers to save on time and costs, avoiding the need to travel and manage physical cash. This convenience is especially valuable during the busy holiday season, helping customers manage their finances more efficiently. Additionally, digital transactions reduce risks associated with handling cash and offer an easy, cost-effective way to bank from anywhere.
What does the future look like for Housing Finance’s digital banking services, and how will you continue to innovate?
Our commitment to innovation is rooted in listening to our customers and creating solutions that truly meet their needs. We’ll continue to enhance our digital banking offerings by focusing on convenience, affordability, relevance, and empowerment. Listening to customer feedback is key to our innovation process, ensuring that we deliver products that are impactful, secure, and aligned with customers’ expectations for a better banking experience.
