Kenya Post Office Savings Bank (Postbank) has partnered with global money transfer company Xpress Money to facilitate easier diaspora remittances for the bank’s customers across the country.
The partnership is expected to grow Postbank’s service portfolio while generating additional revenue for the bank while customers will find it more convenient to transfer money to 170 countries across the globe.
According to a news report by the Star Newspaper, Postbank Managing Director Anne Karanja insisted that the partnership will greatly boost the economy as it will facilitate convenient transfer of money
“Through the partnership, Kenyans will be able to send money to their loved ones across borders conveniently and reliably with low transfer fees and very competitive exchange rates,’’ Ms. Karanja said during the unveiling of the partnership according to the Star Newspaper.
She consequently revealed that the partnership will cement the bank’s position in the market as it strives to provide enhanced services which will boost its customer portfolio and revenue generation streams.
”We simply are tapping into an opportunity to facilitate the flow of capital from the diaspora which will boost savings, make banking part of our customers’ lifestyle in a uniquely convenient and efficient way,” Ms. Karanja added.
On his part Xpress Money CEO Sudhesh Giriyan underscored that the partnership was in line with the firm’s aggressive expansion plan to grow its footprint in Kenya and the larger East Africa region.
‘’We have a robust expansion plan for Kenya and partnering with a trusted name like PostBank is a part of that framework,’’ Mr. Giriyan added.
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