Airtel Africa and Standard Chartered Bank have partnered to increase financial inclusion across fundamental markets in Africa by delivering services such as online deposits, international money transfers, etc.
Airtel Money’s customers can 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.
Over the past year, Standard Chartered has rapidly launched digital banks across nine 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. 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. The telco provides services in 14 countries in Africa.
“By joining with innovative organizations like Airtel Africa, we are fastening our mobile and digital-led strategy to provide best in class financial services to Africa,” Standard Chartered Regional CEO, Africa, and the Middle East Sunil Kaushal said. He added that, by partnering with mobile wallet providers, the bank has increased 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.
On his part, Airtel Africa CEO Raghunath Mandava said the partnership supports the Telco’s efforts to expand the range and depth of its mobile money offerings across its 19 million-customer base, with new products and services helping to promote the wider adoption of mobile money and increasing financial inclusion.
“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. Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya, Tanzania, Uganda, and Zambia while remaining products will be rolled out later this year subject to regulatory approvals, ” Raghunath Mandava, CEO, Airtel Africa, said.
“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,” Mandava said.