Following this announcement, TransferTo and Ecobank Group have announced a landmark Memorandum of Understanding (MOU), which is expected to optimise the overall financial access and cross-border payment solutions for customers and businesses across the region of Africa.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Throughout this partnership, TranferTo’s companies, including Thunes, Ezra, DT One, and Tookitaki, will be brought together with Ecobank Group in order to expand secure and optimised access to credit, digital products, and cross-border payment solutions. At the same time, the strategic deal is expected to develop a safe, inclusive financial ecosystem that bridges markets. This will enable swift reliable payments across borders, while also providing financial empowerment tools for several African customers and businesses.
By combining their expertise and suite of solutions, TransferTo and Ecobank Group aim to drive financial inclusion, provide underserved communities with improved opportunities, and establish secure, efficient, and transparent digital pathways that connect Africa’s economies with the rest of the globe.
The partnership between Thunes and Ecobank will facilitate fast, reliable cross-border payments across Africa via Thunes’ Direct Global Network, including QR code payments that will connect global financial apps to China’s cashless economy, simplifying cross-border transactions. In addition, the collaboration between Ezra and Ecobank will expand access to nano loans and BNPL options, while also providing underbanked individuals to build credit histories and process to larger loan opportunities.
DT One and Ecobank will focus on optimising customer engagement with integrated digital rewards, while also providing airtime, data bundles, gift cards, and vouchers through the use of Ecobank’s Mobile App and Xpress Accounts. Tookitaki and Ecobank will use this partnership in order to strengthen compliance with AML technology, as well as offer specialised training for Ecobank’s team to enhance financial security.
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