Pearl Bank has launched ZeroFlex, a digital banking solution aimed at supporting Uganda’s national financial inclusion strategy, which targets increasing access to formal financial services to at least 85% of Ugandans by 2028.
The new solution allows customers to open an account instantly through the Pearl Bank App using their national identification card, with approval often completed within minutes through automated verification.
ZeroFlex offers customers zero monthly maintenance fees, zero withdrawal charges and zero bank-to-wallet transfer fees, making everyday banking more accessible and affordable.
Pearl Bank Head of MSME and Retail Products, Laura Bahemuka, said the model removes traditional barriers that have previously required customers to visit bank branches for account opening and fee-related services.
She explained that by enabling instant onboarding and cost-free digital transactions, ZeroFlex promotes self-service banking and reduces reliance on physical banking locations.
According to the 2025 Bank of Uganda Quarterly Financial Review Report, mobile banking transactions in Uganda increased by Shs253.7 trillion, representing growth of more than 31% compared to the previous year.
The growth reflects a wider global shift towards financial technology solutions, with the fintech market projected to expand annually by between 15% and 25%.
By Charles Katabalwa
6th Aug 2026
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