NAIROBI, Kenya, Jan 21 – WorldRemit has partnered with NIC Bank to enable people living in the Diaspora to send money directly from their phones to NIC Bank Retail accounts.
NIC Bank’s Group Managing Director, John Gachora said the partnership with WorldRemit will strategically position the Bank’s diaspora product offering.
“At NIC Bank we are investing significantly in our digital capabilities to deliver value to our customers and make banking easier and convenient. The partnership with WorldRemit is set to cash in on the growing demand for instant, digital remittances among our customers and provides the diaspora with a convenient, efficient and affordable means of sending money back home to their loved ones,” Gachora said.
Sharon Kinyanjui, Head of East and Central Africa at WorldRemit, says the partnership connects WorldRemit to over 130,000 NIC Bank accounts and several new cash pickup locations across Kenya.
“From sending money to loved ones to making investments back home, the new service will enable 3 million Kenyans living in over 50 countries contribute to Kenya’s bright future,” she noted.
WorldRemit allows users to transfer money from your bank account using a credit or debit card.
The funds can be deposited into the recipient’s bank account or made available for collection from an agent location.
Kenya is WorldRemit’s fourth largest recipient of international money transfers globally and third largest in Africa.
Transactions to the country grew by over 40 percent in 2018 and top send countries include the UK, Australia and the USA.
WorldRemit customers complete over 1 million transfers every month from over 50 countries to over 145 destinations.
More than half of its transfers go to Africa.
The Central Bank of Kenya (CBK) estimates that remittances hit an all-time high of Sh197.12 billion ($1.95 billion) in 2017 – a 13 percent growth on the previous year.