The partnership enables Airtel Money customers to make real-time online deposits and withdrawals from Standard Chartered bank accounts
Airtel office in Dar es Salaam, Tanzania. (Credit: Prof.Chen Hualin/Wikipedia.)
Standard Chartered Bank and Airtel Africa have collaborated to provide enhanced access to mobile financial services to customers, to drive financial inclusion across African markets.
Under the collaboration, Standard Chartered and Airtel Africa will work together to jointly create new, advanced products for enhancing the accessibility of financial services across Africa.
The partnership will enable Airtel Money customers to make real-time online deposits and withdrawals from Standard Chartered bank accounts, and receive international money transfers directly to their wallets, along with access to savings products among other services.
Also, Standard Chartered’s corporate clients will able enabled to make rapid and secure bulk disbursements, including payroll payments, directly into the wallets of Airtel Money customers.
Standard Chartered Africa and Middle East regional CEO Sunil Kaushal 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.”
The partnership enables mobile banking transfers between Airtel Money and Standard Chartered Bank
The collaboration is said to reduce the risks related to travelling for cash payments, enabling customers go to any Airtel Money agent, kiosk, or branch to cash-out their funds.
Standard Chartered said that the partnership with mobile wallet provider has expanded its network, offer solutions for corporate and institutional clients to enable e-commerce and m-commerce solutions.
The partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel 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.
The mobile banking transfers between Airtel Money and Standard Chartered Bank have been activated in Kenya, Tanzania, Uganda and Zambia, with remaining products planned subject to regulatory approvals.
Airtel Africa CEO Raghunath Mandava 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 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.”