Verto announces new partnership with Africa-focused firm Xente
Verto, a leading provider of cross-border international money transfer services, has confirmed that it will work with Xente, an Africa-focused provider of simplified business finance.
It is thought that the particular target market of the new collaboration will be Uganda, and non-governmental organisations in the country are expected to particularly benefit from the arrangement.
These organisations will be able to use simple cross-border payment mechanisms in an attempt to boost financial inclusion.
They will also be able to use the technology offered up by the new pairing to keep an eye on transfers that are coming inward into their organisations, press reports said.
“At Verto, we’re building modern banking solutions for all businesses around the world, creating a fairer and more inclusive financial ecosystem for those in underserved regions,” said Diana Mihaylova, the vice president for business development at Verto.
“Through our partnership with Xente, we’re able to support non-governmental organisations with sending and receiving seamless cross-border payments, so they can focus on what matters most,” she added.
For Xente, meanwhile, the CEO and founder Allan Rwakatungu said that the company wanted to help Ugandan businesses with the payment choices they faced.
“Xente is committed to providing businesses in Uganda with the payment choices they need at any time,” he explained.
“This partnership with Verto perfectly served our mission to connect Ugandan organisations and businesses with the global economy, ensuring they can efficiently and transparently automate payments and simplify finance processes,” he said.
“We’re looking forward to working with Verto to connect Non-Governmental Organisations with the best-in-class technology they provide.”
The report noted that NGOs are a driving force in developing Uganda, offering a number of services around healthcare, education and social welfare. Through the partnership, NGOs can track all payments made to their organization, ensuring the payment journey is safe and transparent.