Remittance app wins big at Asian Banker Awards


Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • Rapid Transfer from Ecobank receives prestigious industry award
  • The app, available on Apple and Google, is becoming a leader in its field
  • “I use this opportunity to dedicate these awards to all hard-working staff of the Ecobank Group, who have tirelessly worked to see the success of the bank”, says representative


African firm Ecobank has won the Best Remittance Product and Service of the Year award for its Rapid Transfer app.

The award for its online money transfer services was given at the Asian Banker Excellence in Retail Financial Services for West Africa event, which took place in Lagos.

Ecobank is a retail and business banking firm which stretches across Africa, and which is known as the pan-African bank.

The Rapid Transfer app is a popular choice for international money transfers.

It is available on both the Google Play store and the Apple store. It can be setup and used within the space of five minutes and has a Google Play review ranking of 4.4 stars.

Giving the award, the Chairman of The Asian Banker Emmanuel Daniel said that Ecobank had done well in a rigorous assessment procedure.

The Asian Banker’s remit is large, and plenty of organisations are considered for prizes.

As well as West Africa, the organisation also looks at the Middle East and the entire Asia Pacific region. It is believed that over 300 banks and other institutions in over 42 nations’ financial services spaces were considered for the prize.

Several representatives of Ecobank spoke at the event. Linus Adaba said that his company’s product was designed to ensure that costs were low for the end-user.

“Many Africans work elsewhere in Africa, or further afield in Europe, America and Asia and financially support their relatives back home”, he said.

“Rapid transfer is a safe and secure low-cost remittance solution, which ultimately will put more money into the hands of the recipient. This will have a multiplier effect on the African economy by boosting demand and driving business growth."

He also argued that this was unusual in the industry, and that it was a key selling point for his firm.

“Rapid transfer removes all of the bottle necks and high cost of sending money back home. Its standout affordability is a game changer in the way that Africans send money to their loved ones”, he said.

“I use this opportunity to dedicate these awards to all hard-working staff of the Ecobank Group, who have tirelessly worked to see the success of the bank. And also to all Africans who believe in us and have continued to encourage our efforts by adopting our products”, he added.

According to Ecobank Group’s Executive Director for Commercial Banking, Caro Oyedeji, the firm is now being seen as a bank focused on digital payments thanks both to Rapid Transfer and also due to its other products in this space, including OMNI and EcobankPay.

To learn more about what apps and other remittance products occupy digital spaces, click here to explore our magazine.

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