Ecobank Transnational Incorporated, the leading independent pan-African financial services group, has entered into a partnership with Nium, a global leader in real-time cross-border payment infrastructure to facilitate seamless cross-border payments across 35 African markets for more than 32 million customers.
The partnership is poised to transform the region’s payment landscape by enabling faster and more efficient international transactions for both businesses and consumers.
Nium’s real-time payments infrastructure will be integrated into Ecobank’s existing banking operations, allowing Ecobank to enhance its services for small and medium-sized enterprises (SMEs).
Additionally, Ecobank will connect its current SWIFT workflows to Nium, gaining access to real-time transfers, updates, clearing, settlement, and payment tracking without the need for complicated API integrations.
This integration will significantly reduce waiting times for cross-border payments, enabling businesses to make quicker payments to over 220 markets, including more than 100 countries with real-time capabilities.
Through this partnership, Ecobank’s customers across the region will benefit from an enhanced payment experience that allows faster and more efficient cross-border transactions, unlocking new opportunities for SMEs to connect with global markets.
Anupam Pahuja, General Manager and Executive Vice President for APAC, Middle East, and Africa at Nium, said, “We are thrilled to partner with Ecobank and introduce Nium’s cutting-edge real-time payment capabilities to Africa. This collaboration represents an important step forward in expanding our global payments network, and we are proud to support Ecobank in delivering faster, more efficient payments for its customers across the region.”
“Partnering with Nium allows us to enhance our service offerings and provide our customers with faster, more efficient cross-border payment solutions. By leveraging our unique API-based payment platform, this collaboration is a significant step towards advancing financial inclusion and connectivity across Africa and enabling businesses to thrive in a global marketplace,” said Jeremy Awori, CEO of Ecobank Group.
Ecobank can exchange its existing SwiftMT & ISO20022 messages with Nium to initiate payments on the real-time platform, accelerating business growth and improving the speed and accuracy of cross-border payments for African businesses.
The partnership also aligns with Nium’s broader strategy to enhance global financial inclusion, enabling access to real-time payments in regions where traditional banking systems may be slow or unreliable.
Through this collaboration, Ecobank is now better equipped to provide an unmatched cross-border payment experience for its customers, while Nium continues its mission to democratize access to the world’s largest real-time payments network.
