Diamond Trust Bank, NMG and TimesofMoney Launch Money Remittance for East Africa

The global African diaspora currently consists of more than 30 million individuals. The International Fund for Agricultural Development (IFAD) estimates that these migrants jointly contribute about US$40 billion annually in remittances to their families and communities in Africa.

With this potential in perspective, Diamond Trust Bank, in association with the Nation Media Group (NMG), has launched a revolutionary remittance and money transfer solution called ‘NationHela’ which allows recipients to receive money from anywhere in the world, straight to a virtual account linked to a prepaid Visa card and mobile phone wallet.

NationHela customers can pay for goods and services at merchant outlets, shop online, withdraw cash from ATMs using their card; pay bills through their mobile phone transfer money to other mobile wallets and manage their account online.

TimesofMoney has partnered with DTB and NMG to provide an online global remittance platform for NationHela customers. Kenyans living in the Diaspora simply log on to www.nationhela.com, to send money back home, thus eliminating the need stand in queues at a money transfer agent.

Speaking on the association, Tom Mshindi, Chief Operating Officer, Nation Media Group said, “Since its launch one year ago, NationHela has gained tremendous traction. The simplicity and innovativeness of the platform, which eliminates the usual hassle associated with international money transfers has seen it gain customers rapidly. We are confident that the tie-up with Times of Money will further strengthen the service delivery to our customers.”

Gituku Kirika, Assistant General Manager, Products and Marketing at DTB said, “As a bank we are committed to driving innovation and leading the way with regards to revolutionary financial solutions for our customers and this is why we seek out partnerships that add value to our existing products. This partnership between NationHela and Timesofmoney will go a long way in ensuring our customers have easier access to their funds 24/7 and enjoy the convenience of reloading their cards anywhere in the world.

This innovative service from TimesofMoney is easy to access and follows global norms for customer data and transaction security. At the same time, it allows transparency for the customer to track their transactions online. The services offered are an end-to end hosted remittance platform with customized modules. It caters to compliance and risk, user interface, operations and customer service.

TimesofMoney’s proprietary platform, ‘Remittance in a Box’ provides banks with plug-and-play solutions to power their online remittance service. This platform offers various modules like user interface & design, risk management, technology, operations and customer service

Also, speaking on the partnership, Avijit Nanda, CEO – TimesofMoney said “With its growing diaspora, Africa has a huge remittance potential, which makes it a key focus market for us. With formidable partners like DTB and the Nation Media Group, we believe that this is an opportunity to understand the African landscape better. We are delighted to cater to the people of East Africa through this remittance offering for the NationHela card customers. With best-in-class technology and service, we promise to employ our global expertise to provide a hassle-free cross-border remittance experience.”

You may also like

Popular News