NCBA has signed a Memorandum of Understanding (MoU) with Xpress Money, a cross-border international payment solutions platform, to offer efficient remittance services to its diaspora customers.
The strategic partnership will provide NCBA customers access to an affordable, reliable, secure, and convenient platform for sending and receiving money across Xpress Money’s global network, which includes over 185,000 partner locations in over 160 countries.
Speaking at the MoU sign-off event, NCBA Group Retail Director Tirus Mwithiga said,
“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.”
“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.
Xpress Money CEO Samir Vidhate commented, -, “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.”
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.