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Nigeria’s largest lender by assets, FirstBank of Nigeria Limited has collaborate with WorldRemit, leading digital money transfer service to offer instant money transfers to both existing and new customers.
With this partnership, FirstBank has extended its frontiers to WorldRemit in order to leverage the wide e-platform capabilities it offers to further ease the money transfer process for its numerous customers across the globe who seek new and easier payment transaction options regularly.
WorldRemit’s mobile-first, digital model complements FirstBank’s digital strategy to drive convenient banking transactions from the comfort of homes and offices using the FirstMobile and FirstOnline banking platforms.
“People from some of the 50 countries across the world where WorldRemit operates can now send money directly from their mobile phones into FirstBank accounts in Nigeria without visiting brick and mortar agent locations; and this is the first of its kind in Money transfer business in our country”, said Gbenga Shobo, deputy managing director, First Bank of Nigeria.
Over the years, FirstBank has taken the lead in providing relevant e-payment options for its customers as it pioneered with Western Union Money Transfer in 1996, then Transfast Money Transfer, MoneyGram, Ria, PayPal, Pay Attitude and now, WorldRemit.
Shobo noted that the service is available to senders in 50 countries and over 145 destinations across Europe, Asia, Africa, Australia and the Americas.
“At FirstBank, we are excited at this partnership. Our brand promise is to always deliver the ultimate ‘gold standard’ of value and excellence; and this collaboration with WorldRemit is one of the many ways we provide value to our customers as we continue to devise innovative ways to provide convenience and ease of banking for them”, he said.
Speaking at the official launch of the partnership, Andrew Stewart, regional head of Middle East & Africa at WorldRemit, said: “We are delighted to be partnering with First Bank, one of Nigeria’s leading banks, to give its 14 million customers access to our best in class money transfer experience. Nigeria remains our largest and fastest growing market in Africa, and WorldRemit’s second biggest market globally. This is a key partnership in the country that will further support Nigeria’s transition from offline remittances to online, safer, faster and lower-cost money transfer methods.”
WorldRemit first launched transfers to Nigeria in 2011. The firm is proud to partner with all major banks including Firt Bank, GTBank, Access Bank, Ecobank and more. “Our business is growing from strength to strength”, said Stewart.
Also speaking, Tunde Owolabi, Ge, retail banking, Lagos and West, said the bank has been in partnership with a couple of money transfer companies. “This partnership is going to be very rewarding. We are very excited. We can give you necessary assistance to enter the market”.
Sub-saharan Africa still remains the most expensive region to send remittances to, with an average cost of 9.4 percent for sending $200, according to the World Bank.
“Our fees in Nigeria are very competitive to make sure our customers can send as often as needed to support their friends and family at home”, says WorldRemit.
HOPE MOSES-ASHIKE
