Diamond Trust Bank and Network International Forge New Strategic Partnership
Diamond Trust Bank (DTB), a prominent financial institution on the Nairobi Securities Exchange, has partnered strategically with Network International, a leading digital payments company in the Middle East and Africa (MEA). The collaboration aims to enhance DTB’s digital payment capabilities and support its digital-first strategy in Kenya.
We have collaborated with Network International to accelerate digital payment transformation. Watch more below 👇 pic.twitter.com/Lepo8Kk1pT
Under the new agreement, Network International will provide DTB with an advanced processing platform designed for card hosting and issuance. This partnership will support a broad range of payment products, including debit, credit, prepaid cards, and e-commerce solutions. The network’s platform has sophisticated features such as robust fraud prevention measures, 3D Secure authentication, and a sophisticated API gateway.
Jamie Loden, DTB’sChief Operating Officer, highlighted the significance of this partnership, 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.”
Meeting Growing Market Demands
The collaboration is set to address the surging interest in digital payment solutions in Kenya, which is driven by increasing internet penetration and mobile phone usage. Dr Reda Helal, Group Managing Director – Processing, Africa & Co-Head of Group Processing at Network International, expressed enthusiasm about the partnership, saying, “We are excited to collaborate with Diamond Trust Bank in meeting the rising interest among the emerging middle class, youth, and SME market segments, especially the unbanked, for services that support a digital lifestyle and enable financial inclusion.”
Regulatory Compliance and Local Industry Needs
Both parties have committed to ensuring their solutions comply with local regulatory requirements and industry standards. This focus on compliance will help DTB meet its client’s evolving needs and preferences while maintaining high security and operational efficiency.
Conclusion
The partnership between Diamond Trust Bank and Network International represents a significant step forward in advancing digital payment solutions in Kenya. By combining DTB’s extensive local expertise with Network International’s advanced technology and security measures, the collaboration aims to enhance financial inclusion and support the country’s growing digital economy.
