KCB Bank and dLocal Partner for Faster Remittances to Kenya

KCB Bank, one of East Africa’s largest banks and dLocal, a global payments solutions provider focusing on emerging markets, have forged a Strategic Partnership that has been approved by the Central Bank of Kenya (CBK).

As an extension of an existing local acquiring collection agreement, the partnership will enable dLocal’s global customers to execute disbursements in real time into all Kenyan bank accounts.

It will also be an opportunity for the two payment solutions providers to leverage each other’s advanced technological network to deepen financial access promising enhanced efficiency and security.

This comes at a time when latest data from the CBK indicates that Kenyans living and working abroad sent home a total of $1.2 billion (Ksh158 billion) during the first three months of this year, representing an 18.8 percent increase during a similar period of 2023.

We are delighted to collaborate with dLocal to transform the payment industry. This partnership does not only offer cutting-edge remittance solutions to the bank’s diverse customers, but also extends the reach of KCB’s financial and digital ecosystem to empower the lives of our customers and businesses across Africa.

Mrs. Annastacia Kimtai, Managing Director, KCB Bank Kenya

dLocal Chief Revenue Officer, John O’Brien expressed enthusiasm about the partnership, noting that empowering KCB Bank customers with innovative payments solutions that prioritise choice, security, and flexibility fills has been dLocal’s priority.

As the fifth largest inbound remittance market in Africa, many other markets look up to Kenya when it comes to personalized financial offerings. Having received the necessary regulatory approvals, we are now well positioned to offer a fast, streamlined, and reliable option to KCB customers, and pave the way for further growth for dLocal’s payout solutions.

John O’Brien, Chief Revenue Officer, dLocal