Co-operative Bank of Kenya, one of the major financial institutions in the country, has teamed up with Thunes, a globally renowned payment service provider, to launch a revolutionary cross-border payments solution, dubbed Co-opRemit. This game-changing product aims to simplify live money transfers, particularly in Africa, enabling the bank’s clients to send funds around the world quickly and at a reasonable cost.
The Co-opRemit launch represents a significant leap by Co-operative Bank of Kenya to enhance its offerings and provide better cross-border payment options for its customers. The partnership with Thunes will enable the bank to offer reliable, fast, and live payments globally, while also supporting small and medium-sized enterprises in Africa.
Thunes CEO, Peter De Caluwe, expressed his delight in supporting Co-operative Bank of Kenya in its pursuit of expanding and improving cross-border payment options for its clients. He affirmed that his company will assist the bank in delivering accessible, dependable, and live payments worldwide, thereby strengthening the SMB sector in Africa.
Co-operative Bank of Kenya’s Director of Retail & Business Banking, William Ndumia, noted that with Co-opRemit, SMBs – a crucial customer segment – can now enjoy a more efficient trading experience with seamless international payments at pocket-friendly rates. This revolutionary development will enable small businesses to venture into new markets and expand their operations globally.
Users of Co-opRemit can access the new money transfer service from any of the bank’s 150 branches countrywide, with online and mobile banking channels set to be available soon. This means that customers can send money to any part of the world from the comfort of their homes or offices.
Co-operative Bank of Kenya boasts of serving a clientele base of 8.8 million, including co-operative societies, NGOs, government agencies, corporations, micro-businesses, SMBs, and individual consumers. The collaboration with Thunes is expected to reinforce the bank’s position as a leading financial institution in Kenya and Africa, providing innovative and cost-effective solutions to its clients.