To ship less complicated, smarter banking options, Union Bank of Nigeria has partnered with the Pan-African Cost and Settlement System (PAPSS) community, a {Financial} Market Infrastructure that gives hassle-free and handy cross-border cash transfers to some chosen African international locations.
This revolutionary fee resolution for implementing the African Continental Free Commerce Settlement (AfCFTA) is designed to rework how funds are made throughout Africa.
With PAPSS, clients can ship cash immediately to Ghana, Kenya, Rwanda, Liberia, Sierra Leone, Gambia, Malawi, Zambia, Zimbabwe, Djibouti, Nigeria and extra African international locations sooner or later.
Utilizing PAPPS provides quite a few advantages to clients, together with, however not restricted to, instantaneous funds or transfers, cheaper international transaction prices, no have to supply FX, enhanced safety, and intra-African commerce alternatives.
Commenting on this partnership that goes throughout borders, Peter Amadi, Head of Transaction Banking at Union Bank of Nigeria, mentioned,
” At Union Bank of Nigeria, we’re dedicated to driving innovation and excellence in banking. Our focus is on offering seamless and environment friendly banking by way of less complicated, smarter options that meet the evolving wants of our clients. We consider in fostering sturdy relationships and delivering distinctive worth to our clients, making certain their success in right this moment’s dynamic {financial} panorama.”
Mike Ogbalu III, CEO of PAPSS, commenting on this partnership, mentioned
“I’m very excited and proud to see Union Bank of Nigeria, a {bank} with over a century of banking legacy, becoming a member of the PAPSS community. This exhibits how PAPSS will probably be a sport changer for the continent by enabling infrastructure to spur the expansion of intra-African commerce and commerce, with the energetic participation of regional {economic} communities, personal sectors, and different stakeholders.”
Union {Bank}’s partnership with PAPSS marks a big milestone within the {Bank}’s dedication to driving innovation and excellence in banking.
By offering seamless and environment friendly banking options by way of less complicated, smarter means, the {Bank} goals to satisfy the evolving wants of its clients.
This collaboration enhances the {Bank}’s service choices, fosters sturdy relationships, and delivers distinctive worth to clients, making certain their success in right this moment’s dynamic {financial} panorama.
