Stanbic Bank Uganda Limited is expanding its digital payment platform, FlexiPay, through a new partnership with International Fund for Agricultural Development (IFAD) and Upesi Money Transfer. The partnership aims to enable customers to send and receive money from abroad with ease. However, this development comes as the bank faces a lawsuit from a customer who claims to have lost Shs 68 million from her account due to alleged negligence.
“It’s ironic that Stanbic Bank is promoting its FlexiPay services as secure and convenient, yet I’ve lost a significant amount of money due to their negligence,” said Joweria Nakku, the plaintiff in the lawsuit. “I hope that the court will hold the bank accountable for their failure to protect my account.”
Josephine Nakato Kasacca, Lead Customer Experience & Operations for FlexiPay, said, “Our partnership with IFAD and Upesi Money Transfer is a testament to our commitment to providing innovative and secure financial services to our customers. We believe that our platform is ideal for both sending and receiving payments, and we’re excited to expand our services to even more customers.”
However, Nakku’s lawsuit raises concerns about the bank’s ability to secure customers’ accounts. “The bank’s negligence has led to a loss of trust among customers, who question the security of their savings,” said her lawyer, Kimanje Nsibambi. “We hope that the court will recognize the bank’s liability and hold them accountable for their failure to protect our client’s account.”
The partnership announcement highlights FlexiPay’s capabilities, including advanced encryption and security measures to protect transactions. However, Nakku’s experience suggests that these measures may not be sufficient to prevent fraud.
As Stanbic Bank expands its services, it must also address concerns about account security and customer trust.
The lawsuit serves as a reminder that the bank must prioritize its customers’ financial well-being and ensure that its systems are robust enough to prevent fraud. “We hope that the bank will take our client’s experience as a wake-up call and take necessary steps to improve their security measures,” said Nsibambi.
