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Kenya’s HF Group Partners Interswitch to Offer International Money Transfer Services

 

Kenyan HF Group has partnered 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 HF’s diaspora customers to remit funds seamlessly into any HF account and also provides a simplified channel for them to make their loan or mortgage payments.

The partnership is coming on the heels of the company’s diversification efforts into full-service banking after obtaining Sh1 billion injections from one of its leading shareholders, Britam Holdings.

Robert Kibaara, HF Group chief executive officer, said the firm has made significant investments in technology in order to bolster its full-service banking proposition.

”Our focus is on building a digital-first bank that is responsive to emerging customer trends. our vision is to empower customers to make their personal and business transactions at the click of a button,” Kibaara said.

He added that the lender’s understanding of the customer and the market, coupled with strategic partnerships with fintech, enables it to design solutions that are simplified to address 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,” Kibaara said.

Dubbed HF Whizz International Money Transfer, the solution allows customers in the diaspora to remit funds up to $10,000 instantly from their debit or credit cards.

Romana Rajput, country general manager at Interswitch Kenya, said they are excited at the prospects, potential and possibilities of the partnership with HF Group.

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”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,” Rajput said.

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, $3billion (over Sh300 billion) was remitted into the country from the diaspora in 2020.