Kenya Commercial Bank customers to send and receive money through Global money transfers.

 

 

 

By Ednah Kiarie

 

 

 

 

KCB Bank Kenya in partnership with Western Union, a leader in

cross-border, cross-currency money movement and payments have

yet again enhanced money transfer services for their local and

international mutual customers.

 

 

 

 

Customers can now enjoy an easy, transparent, and convenient way

to send and receive international money transfers after the launch

of Western Union digital money transfer services via KCB’s mobile

banking App.

 

 

 

 

The integration of Western Union’s cross-border, cross-currency

functionalities offer a 24/7 seamless experience for users of KCB’s

mobile banking App. Customers can send money using funds from

their bank accounts and choose for the receiver to have the money

paid out to their bank account or at retail, depending on the country

they reside.

 

 

 

 

KCB Bank Kenya Chief Commercial Officer, Mr. Samuel Makome

said: “We are excited to offer Western Union digital money transfer

services to our customers especially with the shifts in consumer

preferences to digital transactions amid the current pandemic. The

launch of Western Union cross-border money transfer functionality

on the KCB mobile banking App provides our customers with an

easy, transparent and convenient way to send and receive

international money transfers from the comfort of their home.”

Western Union’s extensive global financial network provides access

to billions of bank accounts and millions of mobile wallets in 120

countries, and more than half a million agent locations in more than

200 countries and territories. KCB customers will now be able to

receive international money transfers direct to their KCB accounts

using Western Union’s unique tracking number (MTCN) along with

other requested information.

 

 

 

 

“Customers globally, and in Kenya want flexibility and trust in their

cross-border money transfers and payments. At Western Union, we

give them both. We are delighted with the opportunity to integrate

our global money movement capabilities to enhance the customer

experience of KCB Bank, one of Kenya’s leading financial

institutions, as we provide customers with access to one of the

biggest global financial networks,” said Mohamed Touhami El

Ouazzani, Regional Vice President, Africa, Western Union.

 

 

 

 

“Digital partnerships, such as the one we announce today, are a win-

win for both customers and the banking sector, as they enable more

convenience, speed and transparency in global money transfers.

Western Union’s open platform strategy is enabling financial

institutions and other organizations to solve the complexities of

cross-border, cross-currency transactions and scale their services

globally for customers,” El Ouazzani said.

Kenya heavily relies on diaspora remittances for its foreign

exchange income and economic development. In 2020, remittances

into Kenya reached an all-time high of $3.094 billion from $2.796

billion received in 2019 according to the latest data from the Central

Bank of Kenya (CBK).  North America accounted for the bulk of the

remittance inflow, followed by Europe.

 

 

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, with 200 branches, 367 ATMs and 16,000 agents

offering banking services on a 24/7 basis in East Africa. This is

complemented by mobile banking and internet banking services

with a 24-hour contact center services for our customers to get in

touch with the Bank. KCB Group Plc- which also has presence in

Uganda, Tanzania, South Sudan, Burundi, Rwanda and a

representative office in Ethiopia also boasts of a wide network of

correspondent relationships totaling over 200 banks across the

globe and our customers are assured of a seamless facilitation of

their international trade requirements wherever they are.

 

 

 

The Western Union Company (NYSE: WU) is a global leader in cross-

border, cross-currency money movement and payments. Western

Union’s platform provides seamless cross-border flows and its

leading global financial network bridges more than 200 countries

and territories and over 130 currencies. We connect businesses,

financial institutions, governments, and consumers through one of

the world’s widest reaching networks, accessing billions of bank

accounts, millions of digital wallets and cards, and over half a

million retail locations. Western Union connects the world to bring

boundless possibilities within reach. For more information,

visit www.westernunion.com.