I&M Bank (Rwanda) Plc., the oldest bank in Rwanda and licensed by the Central Bank of Rwanda, and Network International (Network) (www.Network.ae), the leading enabler of digital commerce across the Middle East and Africa (MEA), have signed a strategic partnership to provide advanced digital payment solutions in support of the bank’s efforts to boost the country’s financial inclusion strategy.
The agreement with Network International will reinforce I&M Bank’s digital-first strategy and leadership in the Rwandan market. Amidst surging interest in digital payment solutions across the country influenced by rising internet penetration and mobile phone usage,[1] Network will enable I&M Bank to benefit from advanced digital payment solutions, robust security protocols and a sophisticated API gateway. Through this partnership, Network will offer a variety of payment products and services including credit and prepaid card hosting and processing. The bank will also have access to a host of value-added services such as card fraud prevention, 3D Secure authentication, and card control solutions.
Benjamin Mutimura, CEO of I&M Bank (Rwanda) Plc., emphasized the importance of customer delight, stating, “Our partnership with Network International marks a significant milestone in our efforts to expand our capabilities and elevate our services in a rapidly evolving digital environment. It also complements our desire to facilitate the inclusion of more citizens in the formal financial system. Our collaboration with a market leader like Network International will help us satisfy the growing demand among Rwandans for new and superior digital banking experiences that are convenient, safe, and seamless, thereby ensuring customer delight.”
Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International, commented, “We are excited to collaborate with I&M Bank in meeting the rising interest among Rwandans, especially the unbanked, for services that support a digital lifestyle. We welcome the opportunity to support I&M Bank’s passion for providing best-in-class digital customer experiences by enabling innovation and enhanced operational efficiency, as well as broaden our contributions to the success of Rwanda’s financial inclusion strategy.”
Distributed by APO Group on behalf of Network International.
Media Contact:
Lambert Espedido III
Network International
Dubai, UAE
Tel: +9714 303 2431
lambert.espedido@network.global
Srishti Soni
ASDA’A BCW
+9714 450 7600
srishti.soni@bcw-global.com
About Network International:
Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have over 2,000 digital payments experts based in our markets serving over 200 financial institutions and over 150,000+ merchants.
About I&M Bank (Rwanda) Plc:
Incorporated in 1963, I&M Bank (Rwanda) Plc is the oldest Bank in Rwanda. It is today one of the leading players in the industry with a strong footprint across the country.
I&M Bank Rwanda offers the full range of personal, business, institutional and corporate banking products throughout its locations. The Bank has been listed on the Rwanda Stock Exchange since March 2017.
The Bank is also a subsidiary of I&M Group PLC, a leading regional financial services group in Eastern Africa with a presence in Kenya, Tanzania, and Uganda as well as a joint venture in Mauritius. I&M Group has a long history in banking and has established a wide network of correspondent banks across the globe and enjoys a strong relationship with leading International Development Financial Institutions.
