NCBA Bank has signed a Memorandum of Understanding (MoU) with Xpress Money, a leading cross-border payment solutions platform, to provide enhanced remittance services for its diaspora customers.
This strategic collaboration grants NCBA customers access to Xpress Money’s global network of over 185,000 partner locations in more than 160 countries, enabling secure, reliable, and affordable money transfer services.
Speaking at the MoU signing, Tirus Mwithiga, NCBA Group Retail Director, stated:
“As a customer-focused institution, we are excited to partner with Xpress Money to deliver efficient, safe, and fast remittance solutions to our diaspora customers. This partnership supports our goal of becoming the leading bank for the Kenyan diaspora by increasing remittance volumes and adding value to both senders and recipients.”
Mwithiga highlighted NCBA’s 2024 strategic focus on digitization and enhancing its diaspora banking proposition. “We are forging partnerships with fintech leaders like Xpress Money to remain competitive and better serve our diaspora market. This collaboration is a significant step towards that goal,” he added.
Xpress Money CEO Samir Vidhate expressed enthusiasm for the partnership, saying:
“We are delighted to join forces with NCBA to extend our global remittance services to their customers. This partnership underscores our dedication to providing secure and convenient money transfer solutions. Together, we aim to make sending money home faster, easier, and more affordable for NCBA’s diaspora clients.”
Xpress Money offers versatile money transfer options, including Cash-to-Cash services, Account Credits, and Mobile Wallet transfers. Established in 1999, the company has leveraged partnerships with trusted institutions to expand its reach and capitalize on the USD 689 billion global remittance industry.
About NCBA
NCBA Group is a leading full-service banking institution operating in Kenya, Uganda, Tanzania, Rwanda, and Ivory Coast. With over 60 million customers and a network of more than 100 branches, NCBA is Africa’s largest banking group by customer numbers. The bank is a market leader in Corporate Banking, Asset Finance, and Digital Banking, driving financial solutions that support Africa’s economic growth.