About a month after partnering with Tanzanian fintech NALA to enhance the remittance process across Africa, NCBA Bank has announced a new remittance partnership with Xpress Money.
With this collaboration, NCBA Bank aims to expand its financial services making it easier for its diaspora customers to send and receive money across Xpress Money’s global network.
Xpress Money’s global network includes over 185,000 partner locations in over 160 countries.
“As a customer-centric institution, we are thrilled to embark on another strategic partnership to assist our customers in the diaspora in making safe and fast transactions with a trusted brand. This partnership aligns with our strategic goal to be the leading bank for the Kenyan diaspora. Together, we aim to increase remittance volumes and provide value to both senders and receivers.” NCBA Group Retail Director Tirus Mwithiga said.
“In 2024, the bank has prioritized digitization as a core strategic focus and has embarked on revamping its Diaspora Banking value proposition to remain competitive. Part of this revamp involves forming strategic partnerships with fintechs to enhance diaspora remittances, ensuring we fully support the diaspora market. The deal with Xpress Money is one of the key initiatives to achieve this,” he added.
Xpress Money provides both sending and receiving services through Cash-to-Cash, Account Credits, and Mobile Wallets.
Established in 1999, Xpress Money has fostered partnerships with trusted institutions, in a bid to widen its reach for remittance solutions, leveraging the USD 689 billion remittance industry.
“We are excited to collaborate with NCBA and extend our remittance services to their customers. Our partnership with NCBA underscores our commitment to providing convenient and secure money transfer solutions to customers across the globe. Together, we aim to make the process of sending money home faster, simpler, and affordable for NCBA customers.” Xpress Money CEO Samir Vidhate said.
The Xpress Money partnership was announced on Wednesday.
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