KCB App Offers International Money Transfers in Partnership With Western Union

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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.

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