NCBA has taken a significant step to strengthen its support for the Kenyan diaspora community by partnering with Xpress Money, a globally recognised cross-border payments platform.

The Memorandum of Understanding (MoU) signed by both entities is set to provide NCBA’s diaspora customers with an accessible, affordable, and reliable solution for sending and receiving money through Xpress Money’s extensive global network.

This partnership, with over 185,000 partner locations across more than 160 countries, will provide NCBA customers with a seamless and secure remittance experience.

NCBA Group Retail Director Tirus Mwithiga expressed his enthusiasm for the partnership, emphasising NCBA’s commitment to customer satisfaction and the diaspora market.

“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,” Mwithiga stated during the signing event.

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"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."

The partnership comes as NCBA places a strong emphasis on digital innovation for 2024, with a key focus on enhancing its Diaspora Banking services.

Mwithiga elaborated on the bank’s strategic approach, stating, “In 2024, the bank has prioritized digitisation 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.”

Xpress Money, a remittance platform established in 1999, is known for its commitment to providing convenient and secure transfer solutions through various channels, including Cash-to-Cash, Account Credits, and Mobile Wallets.

With a presence in the USD 689 billion remittance industry, Xpress Money has built a robust network through strategic alliances with trusted institutions worldwide.

Samir Vidhate, CEO of Xpress Money, also highlighted the value of this new partnership.

"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," Vidhate said.

"Together, we aim to make the process of sending money home faster, simpler, and affordable for NCBA customers."

This strategic partnership is poised to enhance NCBA’s appeal to diaspora customers, fulfilling the bank’s vision to lead in diaspora banking while leveraging the expertise of a trusted global remittance partner.