FINCA Uganda managing director James Onyutta has reiterated the bank’s commitment to continue extending financial services to Ugandans and spearheading financial literacy-related campaigns.

These observations come as the bank marks 30 years of operation in Uganda offering access to credit for working capital, savings, money transfer services, financial literacy for proper management of business funds, and various transactional channels to micro-entrepreneurs, refugees, and entrepreneurs in general.

Onyutta says the institution stands out for its strong social impact on the quality of life of its clients and their families, as well as on the local economy.

“Over the years, the institution has built an ecosystem of products tailored to meet the financial needs of its clients with a human touch. Its mission is to generate economic value for their businesses, social value for their communities, and human value for themselves and their families,” he said.

Committed to improving financial capability and household financial health, the bank has connected over 250,000 individuals and communities to expert financial education training, providing financial services to Uganda’s low-income socio-economic segment.

Its investment in technological innovation sets it apart, according to Onyutta who says the institution embraces technology not because it is trendy, but because it transcends barriers to financial inclusion, lowers service costs, and reduces the cost of access to finance for micro and small entrepreneurs.

Over the years its digital financial services strategy has developed FINCA Mobile, FINCA Ku siimu, Visa-enabled debit cards, e-banking, agency banking, and digital credit application and account opening solutions.

This has driven over 58% of customers to embrace these digital services, accounting for over 70% of bank transactions. This ratio is expected to increase to over 80% by the end of the year.

However, digital services alone are not enough. They also focus on relevant products and service offerings.

The other area of coverage is widening business credit to the Small, and Medium Enterprises segment who have a strong base in growing the country’s gross domestic product.

FINCA is one of the few microfinance deposit-taking institutions globally that has succeeded in developing a scalable, technology-driven business model for efficient, high-quality service delivery to the mass market in a developing country.

The bank recently intensified its efforts to improve the lives of small entrepreneurs and cooperatives by offering a variety of support services that keep them on track towards self-reliance.