Centenary Bank joins Interswitch, gives customers access to 280 ATMs

KAMPALA, Feb 20, 2014. Centenary Bank has joined the Interswitch East Africa network in Uganda adding yet another innovation in enhancing their customer service.

Interswitch East Africa operates a network that links different banks to enable their customers share Automated Teller Machines (ATMs) and Points of Sale (POS) services. 

With the addition of Centenary Bank, the Interswitch network in Uganda now has 13 banks with 280 ATMs. The Banks include; Cairo International Bank, Commercial Bank of Africa, DFCU Bank, Finance Trust Bank, Global Trust Bank, GT Bank (formerly Fina Bank), FINCA, Imperial Bank, Opportunity Bank, Orient Bank, Post Bank and United Bank for Africa.

Speaking at the event, Centenary Bank Managing Director Mr Fabian Kasi commended the new partnership saying it complements the bank’s strategy of taking services closer to the users……‘We are constantly looking for opportunities to simplify accessibility of banking services for customers. Joining Interswitch draws us near to realizing that dream by increasing our ATM outreach from 146 to 280’ …..….

Mr. Olumuyiwa Asagba the Chief Executive Officer at Interswitch East Africa welcomed the entry of Centenary Bank into the Interswitch family saying this partnership adds value to customers on the network. ….... “We commend Centenary Bank for making the strategic decision to join Interswitch and in turn providing their customers and those of other banks on the network greater convenience...,” Asagba said.

He further said that they strongly believe it’s healthy for commercial banks to compete but more important is for them to collaborate, to make financial services more affordable and accessible to their customers in Uganda and the rest of the world.

“In the near future, Interswitch will enable bank customers in Uganda to transact on ATMs of banks in the East African region. Our regional integration is already underway with the switches in Kenya, Rwanda and Tanzania,” he said. The integration process of banks with Kenya and Rwanda is in advanced stages and is expected to be complete by the end of 2014.

The Bank of Uganda Governor Prof. Tumusiime-Mutebile commended Centenary Bank for joining the Interswitch network describing it as a breakthrough for its customers, Interswitch and those of its partner banks on the network.  “For the first time, in Uganda’s history, over 2 million customers will be able to share a single network of banks, this is a revolution in the banking industry,” …... The Governor also urged other banks which have not yet joined the network to emulate Centenary Bank as to make their services more accessible.

 

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About Centenary Bank

Centenary Bank is Uganda’s leading commercial microfinance bank serving customers with 61 branches and 146 ATMs across the country. We have been trusted by over 1.3 million customers, a third of the total banking population in Uganda. Our mission is to provide appropriate financial services especially Micro finance to all people in Uganda in a sustainable manner and in accordance with the law. 

 

About Interswitch East Africa

Interswitch East Africa (U) Limited is an integrated payment and transaction processing company that provides technology integration, advisory services, and transaction processing and payment infrastructure to government, banks and corporate organizations. Interswitch East Africa has 13 Ugandan financial institutions and over 280 ATMs interconnected online real-time on its network. Interswitch East Africa is a subsidiary of Interswitch Transnational the largest electronic payments processor in West, Central and East Africa with headquarters in Lagos Nigeria. Interswitch Transnational interconnects all the commercial banks in Nigeria and has over 13,000 ATMs and 110,000 Point of Sale devices on its infrastructure. Interswitch is the promoter of the Verve payment brand which has over 19 million cards issued.