The Dubai-headquartered digital payment solutions provider Network International intends to bring WhatsApp for Business banking services to financial institutions across Africa through a landmark collaboration with Infobip.
With 1.5 billion users worldwide, while being especially popular in countries like Nigeria, Ghana, Kenya and South Africa, many financial institutions are recognising the opportunity of WhatsApp in connecting with customers and facilitating banking services.
The WhatsApp Business API is able to host real-time account balances, mini statement reports, latest transaction records and payment transfers.
As a full-stack cloud communications company, Infobip is one of the world’s largest providers of application-to-person (A2P) SMS services, and its collaboration with Network International will support its commitment to financial inclusion across Africa.
In addition to helping financial institutions reach their customers through a familiar and reliable channel, the agreement will help them deliver support and personal services. For individuals, this means people can access their money securely, as well as utilise chatbot technology to help customers take control of their finances.
Commenting on the deal, Network International’s Hany Fekry, group managing director of processing, said: “Helping financial institutions reach customers through a secure and familiar app is in line with our goal to increase and improve digital banking services across the continent to improve financial inclusion.”
The company recently partnered with the analytics software provider FICO to enable the digital economy across the Middle East and Africa (MEA), while also targeting the same region with Tap on Phone technology through its collaboration with Mastercard.
Adding to previous comments, Infobip’s regional head of partnerships sales, Hana Bilbeisi, says: “Empowering individuals and communities through technology and communication is one of our key values at Infobip. By integrating WhatsApp Business API, Network International customers can now access crucial information anytime, anywhere.”
Network International has worked closely with governments and financial institutions in Africa to promote financial inclusion, helping to drive digitisation through innovative products and collaborations such as this one.
Earlier this year Network International announced a 33 per cent increase in year-on-year revenue for Q1 2022, and in 2021, the company acquired DPO Group in a landmark deal for the African payments landscape.