Ac­cess Bank part­ners Trans­fast on funds trans­fer, re­mit­tances

Business a.m. - - Q&A - Ades­ola Afo­labi

AC­CESS BANK NIGE­RIA PLC. is part­ner­ing Trans­fast, a lead­ing provider of cross-bor­der pay­ments and re­mit­tance so­lu­tions, to fa­cil­i­tate in­flow of re­mit­tance to bank ac­counts and cash pay­outs from any of Ac­cess Banks out­lets in Nige­ria.

The two en­ti­ties signed a global agree­ment to of­fer re­mit­tance ser­vices to ex­pa­tri­ates send­ing money to their loved ones across select mar­kets in Africa.

The new part­ner­ship fur­ther ex­pands Trans­fasts pres­ence in Nige­ria, al­low­ing its customers in over 125+ coun­tries to send money to mil­lions of Ac­cess Bank ac­count hold­ers as well as cash pay­out to non-ac­count hold­ers.

Ac­cess Bank is a lead­ing com­mer­cial bank in Nige­ria, with an ex­ten­sive net­work of mil­lions of cus­tomer ac­counts and over 318 branches. The new part­ner­ship with Trans­fast would in­crease con­ve­nience and ease of bank­ing for Ac­cess Banks customers in Nige­ria as well as sup­port the coun­try’s ef­forts to achieve fi­nan­cial in­clu­sion.

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 Trans­fasts 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.

“The re­la­tion­ship with Ac­cess Bank will al­low us not only to ex­tend our net­work foot­print, but also build on the trust that Ac­cess Bank en­joys amongst its customers,” said Samish Ku­mar, CEO – Trans­fast.

Ac­cess Bank 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

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 Banks as­pi­ra­tion of be­ing Africa’s gate­way to the world.”

The re­la­tion­ship with Ac­cess Bank will al­low us not only to ex­tend our net­work foot­print, but also build on the trust that Ac­cess Bank en­joys amongst its customers

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