Fidelity Bank, WorldRemit collaborate for instant money transfers

By Chioma Obinagwam

In line with WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020, the leading digital money transfer service, has reached a partnership agreement with Fidelity Bank for the provision of instant money transfers to all Fidelity Bank accounts in Nigeria.

According to a statement by the company, the new partnership further expands WorldRemit’s footprint in the country and allows the 15 million Nigerian in Diaspora to send money directly from their phones to recipients in Nigeria.

With a diaspora of over 15 million people living in countries including the United States of America, United Kingdom and Germany, remittances play an increasingly important role in Nigeria’s economy.

The Regional Director for Africa and Middle East at WorldRemit, Andrew Stewart expressed WorldRemit’s joy to be in partnership with the commercial bank.

Stewart said, “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.”

“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 best in class online money transfer, which offers a safer, faster and more cost-effective way to send and receive funds.”

WorldRemit is an online money transfer service that provides international remittance services to expatriates and migrant workers.

The financial service digital model allows customers to complete their transactions in just a few taps from a smartphone. Worldremit customers make more than 1 million transactions every month, using its app or website.

The company was founded in 2010 by Ismail Ahmed, Catherine Wines and Richard Igoe and is backed by venture capital companies, Accel Partners and Technology Crossover Ventures (TCV).

As of December 2017, the company had around 2 million users.

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