Fidelity Bank partners with WorldRemit for instant money transfers to Nigeria
30/7/2018 | 3 minute read
WorldRemit customers in over 50 countries can now send money instantly to millions of Fidelity Bank accounts directly from their mobile phones
Lagos and London, 30 July 2018: Leading 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.
Andrew Stewart, Regional Director of Africa and the Middle East at WorldRemit, comments: “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.”
Nnamdi Okonkwo, Managing Director and Chief Executive Officer at Fidelity Bank Plc, said “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.”
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.
About WorldRemit
We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands.
We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.
Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money.
Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.
About Zepz
Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.
Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.
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