INTELLIGENT BRANDS // Mobile Technology

Africa have announced a strategic collaboration to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services .

Through the collaboration , Standard Chartered and Airtel Africa will work together to co-create new , innovative products aimed at enhancing the accessibility of financial services and , ultimately , better serve people across Africa .

In line with this , Airtel Money ’ s customers will 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 among other services .

Standard Chartered ’ s corporate clients will also be able to make rapid and secure bulk disbursements , such as payroll payments , directly into the Airtel Money customers wallet . 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 .

Sunil Kaushal , Regional CEO , Africa and Middle East , Standard Chartered , 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 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

Sunil Kaushal , Regional CEO , Africa and Middle East , Standard Chartered

securely and create market-leading financial solutions across countries .”

The recent announcement is another step taken by Standard Chartered to further extend its reach and enhance its unique produce offering . By partnering with mobile wallet providers , the bank has expanded 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 and enable efficient , scalable e-commerce and m-commerce solutions .

This 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 .

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 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 .”

Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya , Tanzania , Uganda and Zambia . Remaining products will be rolled out later this year subject to regulatory approvals . •

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