Nairobi, Kenya, 5 December 2014
Chase Bank (K) Ltd today announced a partnership with SimbaPay which will allow free instant deposits from the United Kingdom to Chase Bank accounts in Kenya. This revolutionary new service allows Kenyans in the Diaspora to deposit money in their recipient’s Chase Bank accounts within minutes using the SimbaPay mobile app.
“Through our partnership with Chase Bank we’re thrilled to expand our instant deposit service beyond mobile money and M-Pesa” said Nyasinga Onyancha, CEO for SimbaPay. “It’s a perfect present to Chase Bank customers this festive season.”
Money transfers submitted from the UK during Kenyan banking hours will be reflected instantly and those submitted outside Kenya banking hours will be reflected on the next banking day.
Local Chase Bank account holders will also benefit from the instant deposit service whenever their friends and family use SimbaPay to send them money.
The service further strengthens Chase Bank’s position as one of the top 5 financial institutions by diaspora remittance volumes handled. According to the Central Bank of Kenya diaspora remittances to Kenya now exceed USD 1.2 billion (KES 105 billion) annually.
About Chase Bank
Chase Bank (K) Ltd was incorporated in 1995. The Bank received awards for being the Best SME Bank 2014 (Banker Africa), 2013 (Think Business), Fastest Growing Bank in Kenya in 2009 and 2010, as well as a special award for product innovation, at the Banking awards 2011 and 2013 in recognition for their role in creating innovative products for the SME market.
Chase Bank places a keen focus on the SME and the provision of innovative products for this ever growing market. The Bank, modelled around relationship banking provides its customers with value added services like Bank Assurance, Bank Brokerage, and off shore investment opportunities with the aim of improving their overall customer experience.
SimbaPay is a mobile app transforming the international remittance space. With a focus on speed, convenience and constant innovation, users are able to send money to loved ones or even vendors in Africa, from wherever they are at any time of day or night.
The company is headquartered in London and can be found online at www.SimbaPay.com .