Fidelity Bank partners WorldRemit on mobile money
Digital
money transfer service WorldRemit
has joined forces with Fidelity Bank, one of Nigeria’s top financial services
providers, for instant money transfers to four million Fidelity Bank accounts
in Nigeria.
The new
partnership further expands WorldRemit’s footprint in the country and allows
the 15 million-strong Nigerian diaspora living
in over 50 countries - including the United States, the United Kingdom, and
Germany - to send money directly from their phones to recipients in Nigeria.
The deal supports WorldRemit’s plan to serve 10 million customers connected to
emerging markets by 2020.
Fidelity
Bank is one of the largest banks in Nigeria with an extensive network of
branches across the country. The bank is committed to innovating its digital
products to provide convenience and ease of banking for its customers. The
collaboration with WorldRemit supports Fidelity Bank’s dedication to innovation
and increasing financial inclusion.
Remittances
play an increasingly important role in Nigeria’s economy. The World Bank estimates
that in 2017 alone Nigeria received over $22 billion in remittances, making it
the largest recipient in Africa and fifth largest recipient globally.
Regional
Director of Africa and the Middle East at WorldRemit, Andrew Stewart, says:
“Nigeria remains our largest and fastest growing market in Africa, and
WorldRemit’s second biggest market globally. We are delighted to be partnering
with Fidelity, a leading bank in Nigeria and a major player in the remittance
business, to introduce its customers to our best in class online money transfer
service, which offers a safer, faster and more cost-effective way to send and
receive funds.”
Managing
Director and Chief Executive Officer at Fidelity Bank Plc, Nnamdi Okonkwo, comments:
“WorldRemit offers a low-cost way to send and receive money. The opportunity
for our customers to receive money from over 50 countries in a quick,
affordable and convenient manner with WorldRemit is in line with our promise to
deliver a new standard of service in the financial services industry.”
Last year,
WorldRemit became Arsenal FC’s first-ever online money transfer partner in a
global sponsorship deal. WorldRemit customers complete one million transfers
every month from over 50 countries to over 145 destinations. More than half of
its transfers go to Africa.
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