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Key Points
- NCBA's partnership with Xpress Money provides customers with access to over 185,000 locations in more than 160 countries, facilitating secure and efficient money transfers.
- The collaboration offers multiple transfer methods, including Cash-to-Cash, Account Credits, and Mobile Wallet services, catering to the varied needs of customers worldwide.
- This partnership aligns with NCBA's broader strategy to expand its footprint and enhance service offerings, as evidenced by previous collaborations and expansion plans in the African market.
NCBA Bank has entered into a strategic partnership with global payment platform Xpress Money to enhance remittance services for its diaspora clientele. The collaboration aims to provide secure, efficient, and convenient money transfer options, reflecting NCBA's commitment to serving its international customer base.
Through the partnership, NCBA customers will gain access to Xpress Money's extensive network, which spans over 185,000 locations across more than 160 countries. This move significantly boosts NCBA's ability to support the growing diaspora community by offering reliable channels to send money home.
Tirus Mwithiga, NCBA Group retaildirector, expressed excitement about the collaboration: "We are thrilled to partner with a trusted brand to provide safe, fast, and affordable transaction options for our diaspora customers."
This agreement aligns with NCBA's goal of leveraging strategic alliances to enhance service delivery and customer experience.
Diverse transfer options
Xpress Money offers various transaction methods, including cash-to-cash, account credits, and mobile wallet services. These flexible options cater to the unique needs of global users, ensuring convenience and accessibility.
Samir Vidhate, CEO of Xpress Money, remarked on the partnership's potential:
"Together, we aim to make sending money home faster, simpler, and more affordable."
The collaboration is poised to streamline remittance processes and make them more cost-effective for users.
Supporting NCBA's growth plans
The partnership is a key component of NCBA's strategy to expand its reach and diversify service offerings. Recent initiatives by the bank include its October 2024 collaboration with Tanzanian fintech NALA Payments Limited to enhance remittance services across Africa. Additionally, NCBA announced plans in November 2022 to extend operations into eight African markets, including Ghana, the Democratic Republic of the Congo, and Ethiopia.
These efforts align with the bank's vision to strengthen its position in the financial sector through innovative mobile and digital banking solutions.
