FBNBank Ghana and Remitly Money Transfer have announced a partnership that will make it easier for residents of Ghana to receive international money transfers from over 145 countries worldwide, including 40 African nations. The partnership will afford the diaspora community opportunity to transfer money to their families and friends back home in Ghana through FBNBank Ghana.
Remitly Money Transfer is a digital-based remittance service, and the partnership with FBNBank will allow beneficiaries to receive remittances via cash pick-up at any of the 25 networked FBNBank branches and agencies across Ghana. It is an affordable, reliable and fast way of sending money to Ghana, and the service it offers is estimated to help millions of Ghanaians meet financial commitments and support families that depend heavily on these remittances. This partnership is also expected to promote digital remittances in Ghana while making more people financially included.
FBNBank, with its network of branches and passionate teams across the country, is committed to innovating its digital products to provide convenience and ease of banking for its customers. The collaboration with Remitly therefore supports FBNBank’s dedication to innovation and increasing financial inclusion.
Mr. Victor Y. Asante, MD/CEO of FBNBank said: “This partnership with Remitly Money Transfer will support the bank’s agenda of facilitating transfer of money to every resident in the country in a seamless process. The collaboration will position FBNBank as the leading partner in the money transfer business in Ghana, and aid the bank’s efforts to mobilise remittances from Ghanaians in the diaspora for beneficiaries back in Ghana. As a bank, we continue to develop these products because we remain committed to delivering the Gold Standard of Value and Excellence to our customers by putting their needs first. This partnership rightly addresses that Customer Promise we have made and are committed to delivering on”.
Customers and users of Remitly money transfer at FBNBank will benefit from reducing the risks of money laundering and advancing responsible financial inclusion of migrants and their beneficiaries, accelerating the transformation of rural households and increasing convenience for and empowerment of users. According to Statista – an online platform specialised in market and consumer data – in 2022, personal remittances received covered 6.1 percent of the country’s Gross Domestic Product (GDP); and this has helped reduce poverty, enable capital imports, and improve living conditions.
FBNBank has in its 27 years of operating in Ghana remained focused on putting its customers and communities first. This it has sought to do through the rich value and excellence of what the bank contributes to the relationship with its stakeholders, particularly customers. FBNBank Ghana is a member of the First Bank of Nigeria Limited Group, which is renowned for its great customer service and general stakeholder engagement garnered over its 129 years of operation. FBNBank Ghana has 23 branches and 2 centres across the country with over 500 staff. FBNBank offers universal banking services to individuals and businesses in Ghana.