Ugandan Banks Embrace Agency Networks to Counter Mobile Money

Traditional financial institutions in Uganda are reshaping their service delivery models by deploying extensive agent networks to rival the dominance of mobile money platforms. Lenders are leveraging digital infrastructure to bring banking services closer to communities that rely heavily on mobile-based financial transactions.

As part of this growing trend, Housing Finance Bank has officially become the latest lender to integrate with Interswitch’s Quickteller network. This strategic partnership allows the bank to extend its financial footprint across the country without the heavy capital expenditure of building physical brick-and-mortar branches.

Agency banking has transformed how Ugandans access cash withdrawals, deposits, and bill payments. By utilizing localized agents, banks can offer convenience and accessibility that match the speed of telecom-driven financial services.

Industry analysts note that traditional lenders must innovate continuously to retain customers who prefer the flexibility of mobile wallets. Collaborating with established payment switches provides a reliable bridge between conventional banking and mobile convenience.

Read more about this development in the Daily Monitor.