HF Group, Interswitch Launch International Money Transfer Service

HF Group has announced its partnership 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.

Robert Kibaara, HF Group Chief Executive Officer, said the company has made significant investments in technology as it diversifies into full-service banking. “Our focus is in building a digital first bank that is responsive to emerging customer trends,” Kibaara said. “Designing the best customer experience is a continuous process and our vision is to empower customers to make their personal and business transactions at the click of a button.”

The solution, developed through the partnership with Interswitch Group, is known as HF Whizz International Money Transfer. It allows customers in the diaspora to remit funds up to $10,000 (Ksh1 million) instantly from their debit or credit cards.

“Our understanding of the customer and the market, coupled with strategic partnerships with fintech, enables us to design solutions that are simplified to address our customers’ needs,” Mr Kabaara said.

“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. We are giving them an opportunity for real-time funds transfer from wherever they are directly into any HF account.”

Romana Rajput, Country General Manager at Interswitch Kenya, said the partnership is consistent with its commitment to make payments reliable, secure and convenient.

The HF Whizz IMT will be rely on 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, $3 billion was remitted into the country from the diaspora in 2020.