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Mutebire Warns Banks Aganist Emerging Technologies

By Damba Rogers.

The central bank governor, Prof.Emmanuel Tumusime Mutebire is strongly warning commercial banks against new technologies currently used to easy banking services to clients.

The governor who was officiating at orient banks 25th birthday where the banks also launched mobile banking App, reminded sector players that the coming of new technologies in the banking sector has to be embraced with maximum care as it always comes with numerous risks mentioning fraud and hackers.

However, Ketan Morjaaria, the bank’s vice chairman and Julius Kakeeto the managing director of the bank pledges to continue investing in technologies to see that they better serve their clients.

The Orient first pay mobile App is geared at broadening access to financial services at lower costs to its clients.

Orient bank is one of the locally owned financial institutions that still stands the challenges together with Centenary bank with most of the locally owned banks which opened 25 years back are all gone.

Ends

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