As digital transformation accelerates across financial services, simplicity and accessibility remain the cornerstones of truly inclusive innovation.
dfcu Bank’s newly enhanced *240# USSD platform is one such innovation—bringing banking to every corner of Uganda without the need for a smartphone or internet connection.
To understand what’s behind this strategic upgrade and what it means for the future of financial inclusion, Business Insight sat down with Isaac Bigirwa, Head of Cards and Payments at dfcu Bank.
Q: Let’s start with the basics—what is 240#, and why is it a big deal for dfcu?
Isaac Bigirwa:
*240# is dfcu Bank’s USSD-based mobile banking platform. It gives customers access to essential banking services—checking balances, sending money, applying for loans, paying bills—using any type of mobile phone. No internet. No apps. Just a simple dial.
It’s a game-changer because it breaks through the barriers of connectivity and affordability. For us, it’s about expanding access, especially for customers in rural or underserved areas.
Q: What prompted dfcu to revamp the existing USSD platform?
Bigirwa:
Customer feedback was the main driver. People were asking for cost effective, faster access, fewer steps, better features and greater reliability. We listened. The upgrade focused on making the user experience more intuitive, reducing transaction friction, and ensuring it delivers on speed and convenience.
This revamp is part of a broader strategy to push financial inclusion while also easing pressure on our physical branches.
Q: So, what’s new in this version of 240# compared to the old one?
Bigirwa:
Several key upgrades:
- A more streamlined menu for quicker navigation.
- Fewer steps per transaction.
- Easier access to services like our Mobi Loan product.
- Broader coverage of day-to-day financial services like bill payments, airtime top-up, account opening, and more.
We’ve built in consistency and speed from start to finish; whether you’re sending money or applying for a loan.
Q: Let’s talk functionality. What exactly can users do with 240# today?
Bigirwa:
A lot. With *240#, you can:
- Check your account balance.
- Transfer funds to other banks or mobile wallets.
- Apply for and repay Mobi Loans.
- Pay utility bills (Yaka, water, Pay TV)
- Buy airtime or data bundles
- View mini statements.
- Even open a new account or link mobile money.
New to the platfrom and Unique to dfcu
- Free access- you don’t need Airtime or Data
- Support for Multiple local languages (Eng, Luo, Lugbara, Lunyakitara, Luganda).
- self onboarding and pin reset
- Transfer to other bank
- Float purchase(MTN.Airtel, Payday)
- SME Mobi-Loans
- MoStock for Stockist
- Creating and managing standing instruction
- Cross currency internal transfers
And again, all of this can be done without data or internet access.
Q: Financial inclusion has become a key theme across the sector. How does 240# contribute to that agenda?
Bigirwa:
It’s central to our inclusion strategy. We’ve designed *240# to work on any phone, for anyone. You don’t need a smartphone or even proximity to a branch.
We’re empowering people to manage their finances independently—whether they’re farmers in Northern Uganda, traders in Eastern markets, or small business owners in peri-urban areas.
It’s also critical for unbanked individuals who want to open an account and start their financial journey.
Q: Who are the key user groups dfcu is targeting with this platform?
Bigirwa:
We see impact across several segments:
- Existing customers looking for convenience
- Individuals in rural and semi-urban areas
- Mobile-first users with limited digital literacy
- Small business owners, informal sector players, and corporates that want loan access without branch visits
- And of course, those who are unbanked but mobile-connected
In short, *240# is for anyone who values access, affordability, and speed.
Q: What does dfcu expect to achieve through this upgrade—both for the customer and the bank itself?
Bigirwa:
For customers, it’s about financial empowerment:
- 24/7 access
- Reduced travel and transaction costs
- On-demand access to working capital via Mobi Loans and Mo Stock loan
For dfcu, it helps us drive digital adoption, reduce branch congestion, and connect more meaningfully with segments of the market that are often overlooked. It positions us as a bank that’s not just digital—but deliberately inclusive.
Q: And lastly, what about security? How safe is it to use 240#?
Bigirwa:
Very secure. All transactions are PIN-protected, and we’ve implemented industry-standard security protocols. Our systems monitor for suspicious activity including Sim swaps, and we’re constantly engaging customers on how to use mobile banking safely.
Q: One final word?
Bigirwa:
The future of banking is about inclusion. With *240#, we’re delivering access, control, and confidence—at scale. It’s banking built for the realities of Uganda, and it’s only going to get better. I encourage everyone to open an account with dfcu to enjoy these unmatched development
