Bard Santner forges alliance with Kuvacash for remittances

FROM LEFT: Kuvacash marketing manager Lauren Grace, Kuvacash accounts manager Victor Chabuntha, Bard Santner executive (retail banking) director Lucia Chingwaru, Kuvacash manager Nqobani Moyo, Bard Santner chief executive Senziwani Sikhosana and Bard Santner executive marketing director Tatenda Hungwe

LOCAL banking and advisory firm, Bard Santner Markets Inc has joined forces with global money transfer start-up Kuvacash in an effort to create convenience and efficiency as well as advance remittance technology across the country.

The agreement was signed at a capital markets investment conference held recently in London, United Kingdom.

In a statement, Bard Santner executive director Lucia Chingwaru said the partnership would combine Kuvacash Remit’s advanced remittance technology and Bard Santner’s extensive payout network and product range.

“Kuvacash Remit and Bard Santner Inc are working together to combine leading edge technology and a nationwide footprint to provide easy to use, fast and cost-effective remittances from the United Kingdom, with the aim of leaving more money in your pocket,” Chingwaru said.

“Remittances are a massive global industry that digital players are just beginning to disrupt. Partnerships like this one allow us to stay ahead of the curve.

“Furthermore, establishing partnerships between remittance-service providers and other existing networks helps to expand remittance services without requiring large, fixed investments to develop payment networks. These cost savings can then be passed on to customers.”

Chingwaru said the partnership brought together technology and financial products to deliver successful transformations and outcomes for clients.

“With technology playing an increasingly critical role in remittances they become more secure, convenient and affordable. Also, as the first financial product used by many people in the developing world, remittances often act as a stepping-stone to accessing a menu of financial services; as such, they are a vital pillar in modern-day financial planning,” she said, adding that by using Kuvacash’s advanced remittance technology, the cost of remittances could be reduced, leaving more money in the pockets of recipients and senders.

“We are very encouraged by the growth we are seeing from the partnership and look forward to rapidly expand our national cash-out network for the convenience of our customers,” she said.

The financial services outfit last week revealed plans to expand to Victoria Falls, taking advantage of fresh opportunities that have emerged since the resort city became an offshore financial centre.

The move by the government was further bolstered by the opening of the Victoria Falls Stock Exchange in 2020, which gave companies an opportunity to raise capital in foreign currency. Bard Santner deals in banking and finance advisory services.

But it said its Victoria Falls operation would deal in offshore corporate services in order to tap into the growth potential of the city.

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