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Postbank ventures into international money transfer

31 July 2014, 23:49

Nairobi - Postbank, the local financial institution, has made a foray into international money transfer with the launch of the RIA International Money Transfer Service that will be available in all branches across the country.

The partnership between Postbank and RIA money transfer will see Postbank, which has 99 branches, become an agent of RIA money transfer services in Kenya

During the launch ceremony, the Chief Guest, Central Bank of Kenya Governor, Prof Njuguna Ndung’u noted that the economy of Kenya was set to benefit from money transfer services particularly since such services directly encourage banking and enhance the velocity of money-the fundamental cornerstones of economic activity.

Speaking during the launch, Postbank Managing Director, Anne Karanja, noted that the bank continued to command an impressive product portfolio that has propelled the Bank to great heights.

She emphasized that Postbank would continue seeking opportunities to fully optimize its potential through diversifying income streams through strategic partnerships and developing innovative products that exceed customer expectations.

“We simply are tapping into an opportunity to make banking part of our customers’ lifestyle in a uniquely convenient and efficient way,” echoed Ms. Karanja.

During the launch, El Hadji Malick Seck, General Manager – Africa, RIA Financial Services opined that their penetration into the Kenyan market through Postbank’s platform would enhance affordability, convenience and safety of funds transfer globally.

The service is anticipated to grow Postbank’s money transfer market share and open additional revenue lines for the Bank. The adoption of this service by the Bank is in line with the Bank’s vision of being the Bank of Choice.

Postbank recently launched a converged ATM network across East Africa to enable customers access financial services.

This is within their strategy of setting the pace in innovation within the banking industry. 

– CAJ 


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