Uganda Telecom and Standard Chartered Bank announced on Wednesday 25th March 2009that mobile phone subscribers on UTL network can now access the Bank's mobile banking service.

Standard Chartered Bank introduced 'm-banking' to the market in November 2008. This product provides Standard Chartered Bank's customers in Uganda with access to banking 24 hours a day, 7 days a week – anywhere in the world, at any time- all through their mobile phone. 

"Uganda Telecom, as a leading innovator in the market is proud to be part of the massive growth in mobile penetration and this being one of the biggest social changes that humans have ever been submitted to brings with it great social phenomena. -banking is one of these phenomena that will impact and change the way that we trade and pay as well as bringing affordable and convenient access at your fingertips" Uganda Telecom Chief Commercial Officer, Hans Paulsen

Harton Maliki, General Manager, SME Banking for Standard Chartered added that …."At Standard Chartered, we are continuously developing solutions to respond to the evolving needs of our customers. M-banking like other recent initiatives from the Bank, seeks to enable our customers to do their banking at their convenience: any time, any day, anywhere."

Standard Chartered's m-banking proposition in Uganda provides its customers with a number of services on a unique platform called USSD (Unstructured Supplementary Service Data). Standard Chartered Bank Uganda is among a few banks globally to use this advanced technology for mobile banking. USSD is highly user-friendly, and provides an extremely convenient system for customers to access their banking requirements in real time. Customers simply dial *177# to access the user friendly menu and start the banking process.

Customers using m-banking are able to:

• Check their bank balance
• View a mini bank statement for their last 3 transactions
• Change their PIN, anytime and anywhere
• Request Bank Statements
• Transfer of Funds in-between personal accounts and nominated accounts
• Pay utility bills – for Umeme / National Water and & Sewerage Corporation
• Request a cheque book

Customers with 'international roaming' enabled on their mobile phones will be able to complete all the above transactions from wherever they are, anywhere in the world.

The launch of m-banking in Uganda is the latest in a list of 'alternative banking channels' introduced by Standard Chartered Bank in Africa in 2008. 'Alternative banking channels' are innovative products and services such as ATMs, Internet Banking and e-statements, which provide customers with greater flexibility in their banking requirements, enabling them to sort their finances at their own convenience, in their own time, in the knowledge their finances are completely secure.