22nd May 2024: Stanbic Bank Uganda won the award for Best Client Service Bank 2024 during a high-profile gala event recently hosted by the Uganda Revenue Authority (URA) in Kampala.
The country’s biggest financial institution and the anchor subsidiary of Stanbic Uganda Holdings Limited, was also the recipient of the ‘Innovation Award’, specifically for the impact of the FlexiPay digital platform.
On behalf of the bank, Sam Bulenzi, the Head of Information expressed gratitude for the recognition. He reaffirmed the bank’s unwavering commitment to delivering unparalleled services and fostering innovation in the banking industry.
Bulenzi said Stanbic Bank has been on a journey to ensure 100% reconciliation of all taxes collected, and digitization has been a key enabler for this objective during the past four years.
He said Stanbic’s innovative practices have set new benchmarks within the industry and solidified its position as a leader in banking innovation.
He said, “As Stanbic Bank Uganda, we bask in the glory of this well-deserved accolade. The institution remains steadfast in living its purpose; Uganda is our home, we drive her growth and are committed to continue raising the bar for exceptional client service and innovations in the financial sector.”
Bulenzi said that winning the 2024 Client Service Award means that the bank has served URA brilliantly. Stanbic emerged as the Best TAT in client query resolution, the Top Bank in terms of volume of collections and the Top Bank in terms of value collected.
In selecting Stanbic Bank for the ‘Innovation Award’, URA recognized the bank’s pioneering spirit and forward-thinking approach in the banking sector. This is highlighted by its efforts to introduce cutting-edge technologies like FlexiPay and digital services to enhance the customer experience.
FlexiPay is a payment option that allows customers to spread out the cost of their purchase over a set period of time, often with no interest. This can make large purchases more manageable for customers who may not have the funds to pay in full upfront. FlexiPay is typically offered by retailers or financial institutions and involves making a series of smaller payments, instead of one large payment.