Home BusinessBanking Liberia: BNB Launches New Remittance Services for Liberia

Liberia: BNB Launches New Remittance Services for Liberia

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BNB, a licensed fintech (financial technology) company that specializes in remittances, has officially launched a new online money transfer service that aims to revolutionize the way people send money home to friends and relatives in Africa including Liberia.

People using the service can send money either through its network of agents or directly to the mobile phone accounts of the recipients.

The Financial Technology Company, which is headquartered in Canada, says it is determined to extend its operations to all African Countries, with Liberia now joining Sierra Leone and Guinea as a third subsidiary.

“This new fintech company will support the Central Bank of Liberia’s vision of financial inclusion,” BNB said in a statement.

BNB is led by a team of professionals with expertise in software development and remittance business management. The company’s chairman, Brian Fox, is a former Executive VP of Western Union and its CEO/Co-Founder, Dr. Oumar Rafiou Barry, holds a Ph.D. in Engineering from the University of Toronto and has been a Professor of Engineering at some of the best universities in the USA, the statement added.

“BNB is here to partner with all relevant stakeholders (banks, Telco and wallet operators) in the financial industry to revolutionize remittance business by enabling customers have access to their funds digitally. We are a technology driven company with wide range of solutions for an efficient financial sector.”

The service, which was launched on Friday, November 7, 2020, currently has about 100 plus employees, 80% of them are based in Sierra Leone, Guinea and Liberia and the other 20% are based in North America.

In Canada, BNB is a 100% cashless remittance company used by thousands of customers to send money to their loved ones in 17 African countries including Liberia.

“In Africa, we are not only a licensed remittance company, but we are also an aggregator of Money Transfer Companies, Telecommunications Companies, and Banks. Some of our strategic partners include MoneyGram, RIA, Small World, GT Bank, MTN, Orange, UBA, OMNEX, Transfast, Wari and so on,” Alpha Ousmane Barry, BNB Group COO disclosed.

In Sierra Leone and Guinea, BNB has about 400 locations where customers can send and receive money.

This does not include the banks and Telcos that BNB has partnered with such as UBA, GT Bank, Orange, MTN, and others.

According to Barry, BNB as a Fintech Company that focuses on innovation and takes into consideration the needs of customers and partners, thus offering them new innovative products and services.