Africa-Press – Uganda. In under a year since its launch, PostBank Uganda’s ZeroFlex account has achieved explosive growth, with adoption increasing over 50 percent month-on-month and attracting thousands of first-time account holders.
Remarkably, 89 percent of ZeroFlex users are “new-to-bank” customers, representing individuals who had never previously held a formal bank account. For Uganda’s banking sector, long challenged by low financial inclusion, these figures signal a transformative shift.
Data from PostBank shows that uptake is highest among Ugandans aged 18 to 39, underscoring the importance of designing products for the country’s youthful, digitally savvy population.
“These are Ugandans who are mostly tech-savvy. They like simplicity. Gone are the days of walking to a branch, filling forms, and waiting days. With ZeroFlex, you open an account instantly wherever you are — and that’s what customers want,” said Adons Aryong, Head of Data Analytics & Retail Products at PostBank Uganda.
The account’s appeal is broad. Gender distribution is nearly equal, with women slightly ahead, and adoption spans urban and rural areas alike, from Kampala’s CBD to Uganda’s northern districts.
ZeroFlex’s success is anchored in simplicity and affordability. The account has no maintenance fees, no ledger charges, and allows free wallet-to-bank transfers via the Wendi platform.
“This account has removed the cost barrier. Anyone can open it with as little as 20,000 shillings, and the money remains untouched — no deductions, no monthly fees. That affordability is what draws the unbanked,” Aryong added.
Many customers fund their accounts immediately after opening them, reflecting a growing trust in digital banking. For a segment of the population, digital accounts are becoming the default for daily transactions, including paying school fees, receiving remittances, and handling personal finances.
For Uganda’s wider banking industry, ZeroFlex’s adoption is a wake-up call. Competition is shifting from branch networks to seamless, affordable digital experiences.
With nearly 90% of users new to formal banking, the untapped market remains enormous. Each new account holder represents not only a current customer but a potential future client for loans, insurance, or investment products.
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