New Partnership for Airtel Africa to help drive financial inclusion in Africa
Standard Chartered Bank and Airtel Africa have today announced a strategic collaboration to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services.
Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services. Standard Chartered’s corporate clients will also be able to make rapid and secure bulk disbursements, such as payroll payments, directly into the Airtel Money customers wallet.
This reduces the risks associated with travelling long distances for cash payments and instead customers can go to any Airtel Money agent, kiosk, or branch to cash-out their funds.
Sunil Kaushal, Regional CEO, Africa and Middle East explained, “Over the past year, Standard Chartered has rapidly launched digital banks across 9 countries on the continent, allowing our customers to enjoy seamless services from the safety of their homes even during the peak of the pandemic.
This partnership will further enhance the ability of our customers to manage and move money safely and securely and create market-leading financial solutions across countries.”
By partnering with mobile wallet providers, the bank has expanded its network into markets where mobile wallets are prevalent, offer solutions that enable corporate and institutional clients to leverage the opportunities presented by mobile money, and enable efficient, scalable e-commerce and m-commerce solutions.
Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya, Tanzania, Uganda and Zambia. Remaining products will be rolled out later this year subject to regulatory approvals.