Stanbic Uganda expands instant digital lending amid demand for branchless banking

Stanbic Bank Uganda has expanded its digital lending and insurance offerings as demand for faster, branchless banking services continues to grow among individuals and businesses.

The bank says customers can now access some loan products in less than two minutes through digital channels, reflecting a broader shift in Uganda’s banking sector toward automated credit assessment and mobile-based financial services.

The expanded services are being rolled out under Stanbic’s ongoing “Oli in Charge” campaign, which seeks to increase access to credit, insurance and business financing through digital platforms.

Speaking during the launch, Stanbic Bank Head of Digital and eCommerce Yvonne Namutose said the bank had invested heavily in technology to address one of the biggest concerns raised by customers—delays in accessing credit.

“Customers no longer need to visit branches, stand in queues or complete lengthy paperwork to access financial solutions. Today, eligible customers can access loans in under two minutes through our digital channels,” she said.

The lender is offering digital access to unsecured loans of up to Shs350 million for qualifying personal and private banking customers, alongside digitised applications for mortgages, asset financing and credit cards.

Customers can apply through the Stanbic Mobile App, internet banking platform and the USSD code *290#.

The bank is also promoting its Cash Advance facility, which allows eligible customers to access emergency funds instantly through digital channels, with no interest charged if the money is repaid within 30 days.

The move comes as banks increasingly compete to attract customers through convenience, speed and digital access rather than relying solely on traditional branch networks.

According to Stanbic, adoption of mobile and internet banking services continues to rise as customers seek quicker and more flexible ways of managing their finances.

However, the growth in digital banking has also heightened concerns about cybercrime and fraud.

Namutose said the bank continues to invest in cybersecurity systems and personnel to safeguard customer transactions as digital adoption accelerates.

Beyond lending, Stanbic is also using the campaign to promote insurance and investment products aimed at improving financial resilience among households.

Insurance Manager Dogo Singh said many Ugandans focus on building wealth but often overlook the importance of protecting their assets and planning for future financial needs.

The bank is offering products including medical insurance, motor insurance, education savings plans and long-term investment solutions designed to help customers save while securing protection for their families.

In the commercial banking segment, Stanbic has expanded financing support for schools and small businesses. The bank is offering full financing for school buses under its Commercial Asset Finance programme, accompanied by discounted insurance packages.

Head of Commercial Banking Melissa Nyakwera said the bank is also encouraging schools and parents to embrace digital payment systems through platforms such as School Pay, FlexiPay and agent banking services.

The expansion reflects growing competition among financial institutions to deepen financial inclusion by combining digital credit, payments, insurance and savings products on a single platform.

Industry analysts say digital lending is increasingly becoming a key driver of financial inclusion, particularly for customers who may not have easy access to traditional banking services but can transact through mobile phones and digital channels.