Western Union partners with Kenyan banks to enhance cross-border money transfers
Western Union, a global player in cross-border, cross-currency money movement and payments, is collaborating with major financial institutions in Kenya, to enable millions of consumers to send and receive cross-border payments, quickly and reliably, 24/7.
Customers of KCB Bank Kenya, the Diamond Trust Bank (DTB) and the Kenya Post Office Savings Bank (Postbank), can now enjoy an easy and convenient way to send cross-border money transfers, with the launch of Western Union’s digital money transfer services on their respective mobile banking apps.
Customers can send money overseas/cross-border using funds from their bank accounts and choose for the receiver to have the money paid out to their bank account or at a Western Union agent location, depending on the country in which they reside. Customers of these financial institutions are also able to receive international money transfers directly to their bank accounts, depending on the country in which senders reside.
The three integrations mean that millions of African consumers can now access Western Union’s extensive global financial network reaching billions of bank accounts, wallets, and cards, and more than half a million agent locations in more than 200 countries and territories.
“Customers, globally and in Africa, want flexibility and trust in their cross-border money transfers and payments. At Western Union, we give them both,” said Massimiliano Alvisini, Senior Vice President and General Manager for Western Union in Africa, Europe and CIS. “We are delighted with the opportunity to integrate our global money movement capabilities to enhance the customer experience of major African financial institutions."
KCB Bank Kenya Limited is the largest commercial bank in the country. A subsidiary of KCB Group Plc, the bank has the largest branch network in Kenya, with 202 branches, complemented by mobile banking and internet banking services. The group has subsidiaries in Rwanda, Uganda, Tanzania and South Sudan, and a Commercial Representative office in Ethiopia.
Diamond Trust Bank (DTB) is a regional bank listed on the Nairobi Securities Exchange (NSE). An affiliate of the Aga Khan Development Network (AKDN), DTB has operated in East Africa for more than 70 years. DTB’s focus on the small- and medium- enterprise sector and commitment to enhancing convenience for customers through innovative digital solutions has driven the bank’s growth in recent years.
The Kenya Post Office Savings Bank (Postbank) is one of the country’s oldest financial institutions, established in 1910. The Bank is wholly owned by the Government of Kenya and reports to the Ministry of Finance and has 97 branches across the country.