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HF Group has announced its partnership with Interswitch Group, a leading digital payments
and commerce company, to expand its digital banking services to include International
Money Transfer (IMT). The IMT service will enable people in the diaspora to remit funds
seamlessly into any HF account and also provides a simplified channel for them to make
their loan/mortgage payments. The partnership is coming on the heels of the company’s
diversification efforts into full-service banking.
Robert Kibaara, HF Group Chief Executive Officer said, “We have made significant
investments in technology in order to bolster our full service banking proposition. Our focus
is in building a digital first bank that is responsive to emerging customer trends. Designing
the best customer experience is a continuous process and our vision is to empower
customers to make their personal and business transactions at the click of a button.”
Kibaara added, “Our understanding of the customer and the market, coupled with strategic
partnerships with fintech, enables us to design solutions that are simplified to address our
customers’ needs. Kenyans in the diaspora send a lot of money to associates and loved
one’s back home and are always on the lookout for a secure means to make these
remittances. We are giving them an opportunity for real-time funds transfer from wherever
they are directly into any HF account.”
The solution developed through the partnership with Interswitch Group is known as HF
Whizz International Money Transfer. It allows customers in the diaspora to remit funds up
to USD 10,000 instantly from their debit or credit cards.
Romana Rajput, Country General Manager at Interswitch Kenya, said, “We are excited at the
prospects, potential and possibilities of the partnership with HF Group. This partnership is
consistent with our commitment to make payments one less thing for Africans to worry
about. At Interswitch, our solutions are continuously designed to be reliable, secure and
convenient”.
The HF Whizz IMT will be leveraging Interswitch’s secure and robust collection solution-IPG
to enable the seamless transfer and receipt of funds into local accounts According to the
Central Bank of Kenya data, USD 3Billion was remitted into the country from the diaspora in
2020.
-ENDS-
About HF
HF is an asset rich financial services provider licensed by the Central Bank of Kenya to
provide banking solutions. The Group which has a heritage spanning over 55 years, provides
full-service banking with a digital first approach that ensures customers enjoy enhanced
accessibility and user experience. The bank has a foot print of 22 branches country-wide and
a robust digital banking platform HF Whizz that enhances accessibility and self-service for
customers. For more information, please visit www.hfgroup.co.ke
About Interswitch
Interswitch is a leading technology-driven company focused on the digitisation of payments
in Africa. Founded in 2002, Interswitch disrupted the traditional cash-based payments value
chain by supporting the introduction of electronic payments processing and switching
services. Today, Interswitch is a leading player with critical mass in Africa’s developing
financial ecosystem and is active across the payments value chain, providing a full suite of
omni-channel payment solutions. Interswitch’s vision is to make payments a seamless part
of everyday life and its mission is to create transaction solutions that enable individuals and
communities to prosper across Africa. Interswitch’s broad network and robust payments
platform have been instrumental to the development of payments ecosystem and provide
Interswitch with credibility to expand across Africa. For more information, visit
www.interswitchgroup.com