KCB Group
has partnered with money transfer service provider, WorldRemit, to
enable the diaspora and businesses send money to Kenya and five other
African countries real-time.
The lender, which operates
250 branches and 12,000 agency outlets in Kenya, Tanzania, South Sudan,
Uganda, Rwanda and Burundi described the deal as a ‘new instant money
transfer service’ where text messages will be sent to recipients
confirming the deposits.
Retail director Annastacia
Kimutai said: “This partnership bridges a gap in money remittances from
the diaspora to East Africa where we leverage on the Fintech era to
enable us serve our customers effectively.”
She spoke on the sidelines of an investment event for Kenyan and African diaspora at the Royal Overseas League in London.
WorldRemit
founder chief executive Ismail Ahmed said attention on Kenya was
informed by local zeal for mobile money app. Remittance has become big
business for banks.
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