Telecommunication company, Airtel Africa has on Thursday announced a partnership with Standard Chartered Bank in a bid to expand its fintech business and providing its customers with better access to mobile financial services. In a statement by the Airtel Africa's Secretary, Simon O’Hara, "Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services and, ultimately, better serve people across Africa. In line with this, 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."
Speaking on the partnership, Chief Executive Officer of Airtel Africa, Raghunath Mandava, "Our relationship with Standard Chartered boosts financial inclusion across the continent, giving millions of people access to valuable banking services. We continue to invest heavily in cashing in and cashing out locations for our customers and increase our distribution. This means that our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash-out their funds at our exclusive kiosks and branches at their convenience. This highlights Airtel Africa’s commitment to providing affordable, innovative, best-in-class solutions to enhance the daily lives of our customers."
The partnership is in line with Standard Chartered's digital initiatives aimed at providing its customers with greater service delivery. Also, mobile banking transfers between the two companies are currently accessible in Tanzania, Kenya, Zambia, and Uganda.
Sunil Kaushal, Standard Chartered Regional CEO, Africa, and the Middle East said "By collaborating with innovative organisations like Airtel Africa, we are accelerating our mobile and digital-led strategy to provide best in class financial services to Africa. 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."
