How NCBA’s deal with Xpress Money will grow remittances

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.

NCBA Group Retail Director Tirus Mwithiga said: “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.”

Xpress Money CEO Samir Vidhate (left) signs cross-border remittance deal with NCBA Group Retail Director Tirus Mwithiga (right)

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.

“In 2024, NCBA 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,” Mwithiga said.

Xpress Money CEO Samir Vidhate (left) poses for a photo with NCBA Group Retail Director Tirus Mwithiga (right) after signing a cross-border remittance deal

Xpress Money provides both sending and receiving services through Cash-to-Cash, Account Credits, and Mobile Wallets.

Xpress Money CEO Samir Vidhate said: “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.”

Officials from NCBA Group and Xpress Money pose for a photo after the signing of a cross-border remittance deal

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