Fidelity Bank, WorldRemit partner on money transfers

WorldRemit customers in over 50 countries can now send money instantly to Fidelity Bank accounts from their mobile phones.

The money transfer firm has joined Fidelity Bank, one of Nigeria’s top financial services providers, for instant money transfers to four million accounts in Nigeria.

The new partnership expands WorldRemit’s footprint in the country and allows the 15 million-strong Nigerian diaspora living in over 50 countries – including the United States, the United Kingdom, and Germany – to send money directly from their phones to recipients in Nigeria. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.

Fidelity Bank is one of the largest banks in Nigeria with an extensive network of branches across the country. The bank is committed to innovating its digital products to provide convenience and ease of banking for its customers. The collaboration with WorldRemit supports Fidelity Bank’s dedication to innovation and increasing financial inclusion.

Remittances play important role in the economy. The World Bank estimates that last year, Nigeria received over $22 billion in remittances, making it the largest recipient in Africa and fifth largest globally.

WorldRemit’s Regional Director for Africa and the Middle East, Andrew Stewart, said: “Nigeria remains our largest and fastest growing market in Africa, and WorldRemit’s second biggest market globally. We are delighted to be partnering with Fidelity, a leading bank in Nigeria and a major player in the remittance business, to introduce its customers to our best in class online money transfer service, which offers a safer, faster and more cost-effective way to send and receive funds.”

Fidelity Bank Plc Managing Director/Chief Executive Officer, Nnamdi Okonkwo said: “WorldRemit offers a low-cost way to send and receive money. The opportunity for our customers to receive money from over 50 countries in a quick, affordable and convenient manner with WorldRemit is in line with our promise to deliver a new standard of service in the financial services industry.