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Postbank servicecenter4/27/2023 With this transaction, we have agreed a structure that serves all parties’ interests. We are confident that TCS is the ideal owner for Postbank Systems. TCS is already a trusted IT services partner for Deutsche Bank and this strengthens our relationship further. The sale represents an important step forward for Deutsche Bank’s announced strategic transformation.īernd Leukert, Chief Technology, Data and Innovation Officer at Deutsche Bank said: “As part of our move to one technology organisation, we are consolidating the IT platform for our retail banking brand Postbank into the Deutsche Bank platform. Postbank Systems and its around 1,500 employees will become part of TCS. Under the terms of the transaction, TCS will acquire 100 percent of the shares of Postbank Systems AG from Deutsche Bank AG. ![]() Kintu Sula one of the recipients who is a tomato vendor in Kayunga market said he is going to use the money to grow his stock from buying one box of tomatoes to four boxes and grow his daily profits which are 25000 shillings off each box four times as well.įinance Minister for General Duties Amos Lugolobi presenting an update from the government side said the PDM program said over 529 billion has been released from the treasury so far with over 250 billion of this already disbursed in 162 local governments across the country.Deutsche Bank and Tata Consultancy Services (TCS) today announced an agreement concerning the sale of Postbank Systems AG to TCS. The bank has over 2500 registered SACCOS that are participating in this program and plans to give each of them smart gadgets to monitor their activities and the loans of members effectively from initiation to disbursement, proper use and repayment.įor those without mobile phones they can pick their money from the nearest participating bank branch as long as they have a National ID and other required documents.Īlternatively, Kabeera said a code can be generated in the system after the details of an intended recipient far from the bank and without a phone have been verified, this code can be used by the recipient to withdraw the money from any of Post Bank’s smart ATMs nearest to them. The advantages of the system we have put in place is it will eliminate corruption which comes with handling bulk cash and third parties in such government programs as seen in previous attempts.” ![]() “Ours as a bank is to create these channels through which the money will reach the beneficiary directly something we have demonstrated effectively today with the clients who have received their money on phone as witnessed. Post Bank Uganda Executive Director Andrew Kabeera speaking to the media at the event of the disbursement emphasized the role of digital channels in reaching out to the unbanked and those outside the money whose lives the government wants to uplift. Edward Galabuzi plus Kayunga district for being the best performers so far in regards to this program. Vice President Alupo commended other key stakeholders who have ensured the Parish Development Model program is rolled off the ground especially singling out Local Government Minister Raphael Magyezi and PDM Secretariat’sHead Hon. These include enhancing food security, economic empowerment and awakening communities for production.” She said, “Through the government banks which have a good reach countrywide these funds will be able to reach the people who need them most which are in line with government’s goals for the Parish Development Model. ![]() This government of Uganda program aimed at bringing the unbanked and those living from hand to mouth into the money economy were rolled out with over 6 recipients each getting 1 million shillings to boost their livelihoods.Īfter successfully testing the system, Her Excellency Jessica Alupo commended the system of disbursement for being efficient and Post Bank specifically for taking the lead in PDM funds disbursement. Post Bank Kayunga town Branch was a bee hive of activity yesterday morning as Her Excellency Jessica Alupo witnessed and carried out one of the first disbursements of the Parish Development Model (PDM) funds to the initial batch of recipients.
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