Access Bank is a leading commercial bank in Nigeria, with a widespread network of millions of customer accounts and over 318 branches.
Transfast is a leading provider of cross-border payments and transfer solutions.
Transfast has partnered with Access Bank to simplify inflow of transfer to bank accounts & delivery in the form of cash pay-outs from any of Access Bank’s channels in Nigeria.
The two entities signed a universal agreement to offer transfer services to emigrants sending money to their loved ones across select markets in Africa.
The new partnership further enlarges Transfast’s presence in Nigeria, allowing its customers in over 125+ countries to send money to millions of Access Bank accounts.
The new partnership with Transfast will increase suitability and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial insertion.
The partnership will eventually connect over 15 million Access Bank customers in Nigeria.
With a spread of 15 million people living in countries including the United States, the United Kingdom, Australia and Canada, transfers play a significant role in Nigeria’s economy.
The World Bank evaluates that in 2017 alone Nigeria received $22 billion in transfers, making it the largest receiver in Africa.