Western Union and Kenya Commercial Bank (KCB) have announced the introduction of Account Based Money Transfer (ABMT) services for customers living in the Kenya region, reports All Africa.
The new services will allow KCB customers to receive cash transfers from over 200 countries in the world. Customers at home or traveling abroad can now choose from three alternatives for conducting their Western Union transactions. The ABMT services allow customers to receive money transfers directly into their KCB account by using the online or mobile banking services or through the KCB retail branch network.
This isn’t the first collaboration from Western Union and KCB, who recently launched services across East Africa to facilitate money transfers in real time. The ABMT services were presented as an extension to the previous collaboration project. Customers receiving money through the ABMT service can direct and access funds into their accounts almost immediately after money has been sent. Customers are also able to access these funds 24/7.
Richard Malcolm, regional vice president of Western Union in Southern and East Africa, stated, “Western Union is pleased to strengthen this mutually productive and beneficial relationship with the inclusion of electronic banking channels that are customer-eccentric and technologically advanced.”
Joshua Oigara, group chief executive officer at KCB, told All Africa,”In addition, our focus for our customers this year is to provide seamless and value-adding banking and financial services in the markets in which we operate.
As a bank we do believe that leveraging on partnerships is the way to go in facilitating access to banking services for both banked and non-banked customers taking financial inclusion to the next level.”
According to BizCommunity.com, customers residing in Kenya, Tanzania, Uganda, South Sudan, Rwanda and Burundi have access to the new ABMT services.
To read the full story at All Africa click here, or to read the story at BizCommunity.com click here.
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