In Kenya, diaspora remittances have traditionally been a key source of income for many citizens with recent statistics indicating a spike in inflows in the wake of the economic disruption from COVID-19. In December 2020 cooperative bank teamed with cross-border payment firm Thunes to launch an alternative world-wide money transfer solution; Co-opRemit. This includes a recent partnership with leading money transfer company World Remit to the more than 6 million Co-operative Bank account holders. In 2019 Co-Operative Bank rolled out a new Internet Banking solution to push the lender’s new digital drive that aspires for an omni-channel banking experience. Businesses and institutions including SACCOs that have accounts at Co-operative Bank also have access to a range of money transfer services at their disposal.

Source: Standard Digital August 03, 2021 08:36 UTC