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Business News of Saturday, 14 November 2015

Source: B&FT

Transfast director, Jay Vix interacts with local partners

Jay Vix, Transfast Director in an interaction with some local partners Jay Vix, Transfast Director in an interaction with some local partners

Jay Vix, Transfast’s Global Marketing Director, has met the company’s partner banks in Accra, as part of his tour of Africa to forge and strengthen existing relations and provide resources to Africa-based enterprises of entrepreneurs.

"Transfast is committed to helping Ghanaian organisations and their members save money and also help fund some of their projects through our #TRANSFAST-PROMISE program. One of the commonly unknown facts is that customers have the options of sending money directly to the receiver’s account, online transfers as well as cash pick-up with our flat fee of US$4.99, for up to an amount $10,000," Jay Vix said.

He interacted with management and key staff of UMB bank, First Atlantic Bank, and HFC Bank among others.

Remittances make up a significant source of financing on the continent, supporting families and driving investment, according to the World Bank’s recent Migration and Development Brief. The World Bank’s recent Migration and Development Brief noted that the region receives billions of dollars in cash from relations in the diaspora.

The World Bank estimate that remittances to the region reached US$32.9 billion in 2014, a 2.2% increase over the year before, which had seen a sluggish growth of 0.9%.

This is, however, expected to slow to 0.9% this year, but will recover to 3.4% next year, and 3.8% in 2017.
Transfast continues to build a robust partnership with the diaspora Africans through their ongoing work in United States and Africa.

In the coming year, the partnership is poised to expand in many other countries around the globe, focusing on providing money transfer services to families and friends while also allowing beneficiaries of international money transfer to get money directly into their accounts in any currency, said Vix.

Transfast is a leading omni-channel provider of multi-currency cross-border payments solutions to consumers and businesses around the world.

It operates a best-in-class network across over 120 countries in the Americas, Asia, Europe, Australia and Africa with multi-product capability, including a leading, one-of-a-kind instant bank transfer offering.

Ghanaians in the diaspora can log onto to send money to their loved ones back home.