Equity Bank inks diaspora remittances deal

Equity Bank Kenya has signed a partnership with NALA Payments Limited to facilitate diaspora remittances.

The partnership with the UK & US licensed platform allows Kenyans in the pair of countries to send money directly from their banks through the NALA app and onwards to Equity Bank accounts or mobile money wallets.

The bank says the partnership cements the position of the bank as the leading lender in supporting diaspora remittances.

“Equity will continue to build linkages within likeminded partners such as NALA to ensure its members’ have access to seamless and most competitive remittance services,” noted Equity Head of Private Banking Robert Kiboti.

Last year, Equity Bank handled Ksh.383.5 billion in remittances compared to Ksh.279.4 billion previously.

On its part, NALA Payments is set to open a new office in Nairobi from where one third of its staff will be based.

The company operates a globally remote workforce and leverages partnerships to grow its geographic reach.