Transfast, a leading provider of cross-border payments and remittance solutions, has partnered with Access Bank and signed a global agreement to offer remittance services to expatriates sending money to their loved ones across select markets in Africa.
According to Transfast Chief Executive Officer (CEO) Mr. Samish Kumar, The relationship with Access Bank will allow them not only to extend their network footprint, but also build on the trust that Access Bank enjoys amongst its customers,”
“Access Bank’s state of the art technology makes it an effective delivery platform for Transfast services whose focus is in providing a seamless experience to its customers both on the send side & at the point of collection’’
According to report, the partnership will further expends Transfast’s presence in Nigeria, and increase convenience and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial inclusion and
Also, the partnership will ultimately connect over 15 million Access Bank customers in Nigeria, Democratic Republic of the Congo, Ghana, Rwanda, The Gambia, Sierra Leone and Zambia to Transfast’s best in class online money transfer experience.
With a diaspora of 15 million people living in countries including the United States, the United Kingdom, Australia and Canada, remittances play a significant role in Nigeria’s economy. The World Bank estimates that in 2017 alone Nigeria received $22 billion in remittances, making it the largest recipient in Africa.
Commenting on the partnership, Victor Etuokwu, Executive Director, Access Bank Plc, said, “It is with great pleasure that Access Bank Plc is partnering with Transfast a reputable global payment network to meet the needs of our customers who require a sound and reliable international payment platform. As a top player in the remittance industry in Nigeria, our wide branch network and large customer base will be invaluable to this partnership and we are confident that this relationship will be mutually beneficial to both parties. This alliance also supports the Bank’s aspiration of being Africa’s gateway to the world.”
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