On Tuesday, February 11th, 2020, United Bank for Africa brought together its customers and journalists at Serena Hotel for the launch of its retail liability products that are specifically tailored to the banking requirements of age groups to open accounts, perform basic banking transactions and make savings for future financing needs seamlessly.
The bank introduced four retail products namely UBA Malaika, UBA Janja, UBA Hazina and UBA Kizazikipya. Speaking at the event the head of Retail banking Mr. Geofrey Mtawa explained that UBA bank’sdrive is to become the number one retail banking service provider in the industry.
Thus the retail team has reviewed and introduced a bouquet of retail products to suit the needs of diverse individuals in the market.
“UBA is continuously innovating and developing strategies aimed at making banking seamless and effortless for millions of its existing and potential customers, while also ensuring utmost safety of their transactions”. Said Mtawa.
Explaining further about the products he said,UBA Malaika is designed for parents keen to safeguard their children’s future from when they are in their mother’s womb up to the age of 12. UBA Janja is for 13 to 17 year olds who are young and diverse.
UBA Kizazi Kipya is for the trendsetters, fashionable and dynamic youth who make banking a lifestyle at the age of 18 -25. Whereas Hazina is for those who wish to fulfill their dreams and aspirations by saving money to meet their future funding requirements be it for schooling, business set up or a project.
This caters for the adults from the age 25 and above.It was, therefore, not surprising that UBA would score yet another first with the introduction of retail liability products that are capable of revolutionizing the way banking is done in Tanzania.
Speaking of the new products,Usman Isiaka,Managing Director/CEO, UBA Tanzania, explained that UBA aims at making banking a lifestyle andwill always strive to give customers excellent yet
“The formulation of these product is consistent with the bank’s customer-first philosophy, where we are doing things not the way we like but exactly what the customers want, where they want it, and in the exact way they want.
In UBA, we focus on coming up with various products and services delivered on a platter of cutting edge technology and customer service excellence to improve our market share and competitiveness in the industry” he said.
Usman Isiaka noted further that the launching of the products, especially the Malaika and Janja accounts aligns with the financial inclusion objective of the Bank of Tanzania as children and teens will be indirectly exposed to banking services at the infancy stage of their lives through their parents or guardians that will be the signatories of the accounts till they attain the age of 18.
We have packaged the products with special features and benefits that suit the specific requirements of the various age groupsand target savers.
With eyes on the future, and conversant with the new trend in customer behavior, the bank is constantly innovating, taking strategic steps to integrate more people into the digital financial services net, drive down cost of service, and build consumer confidence in all platforms.