MTN and Ecobank Tuesday sealed a mobile banking partnership to boost the bank’s customers’ base and deepen financial inclusion.
President and CEO, MTN Group, Rob Shuter and Ecobank Group CEO, Ade Ayeyemi signed the Memorandum of Understanding (MoU) at an event in Lagos.
Ecobank, which operates in 36 African countries, expects a massive boost on its digital banking platform with a projected increase of customers to 100 million from 13 million by 2020.
The Ecobank-MTN partnership will enable Bank-to-MTN Mobile Money wallet and wallet-to-bank transfers and cardless ATM withdrawal for MTN Mobile Money users.
The partnership will also use the rapid transfer platform to provide MTN Mobile Money users to make intra-Africa funds transfers. The partnership will provide savings accounts and lending solutions to MTN Mobile Money users, among others.
Adeyemi said the efforts by both brands would go a long way in solving the problem of financial inclusion and providing services to customers via their mobile devices.
He said: “The MoU signed today with the MTN is to bring together our key resources. At the end of the day, we are trying to solve the problem of financial inclusion. We are trying to utilize the asset in the hand of the customers together with the asset we all have.
