{"id":8357,"date":"2022-09-07T08:46:31","date_gmt":"2022-09-07T08:46:31","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=8357"},"modified":"2022-09-07T08:47:01","modified_gmt":"2022-09-07T08:47:01","slug":"ecobank-groups-rapidcollect-enables-businesses-to-collect-their-payments-across-africa-with-only-one-account","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2022\/09\/07\/ecobank-groups-rapidcollect-enables-businesses-to-collect-their-payments-across-africa-with-only-one-account\/","title":{"rendered":"Ecobank Group\u2019s RapidCollect\u2122 Enables Businesses to Collect Their Payments Across Africa with Only One Account"},"content":{"rendered":"

With only one account, business customers can receive funds instantly from their clients in their home country and across Ecobank\u2019s (www.Ecobank.com<\/a>)<\/strong>\u00a0pan-African network; Ecobank business customers can now make instant automated reconciliation leveraging Ecobank\u2019s trusted technology<\/strong><\/p>\n

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The leading pan-African Banking Group, Ecobank Group, has simplified collections across Africa through RapidCollect\u2122. RapidCollect\u2122 enables Ecobank\u2019s business customers to receive payments from their clients in their home country and across Ecobank\u2019s network of 33 affiliates, instantly and at a lower cost than any other current cross-border solution.<\/p>\n

RapidCollect\u2122 caters for the needs of business customers across Africa, as the continent is at a unique point in its history. Immense trade, investment and economic growth opportunities are driven by the African Continental Free Trade Area (AfCFTA)\u2019s creation of a single African market. The Economic Commission for Africa has forecast that the AfCFTA will boost intra-African trade by about 40%\u00a0[1].<\/p>\n

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It provides a fast, innovative, secure, and reliable solution for our customers which leverages the collective scale and strength of our 33-country pan-African network<\/p><\/blockquote>\n<\/div>\n

Josephine Anan-Ankomah, Group Executive, Commercial Banking, Ecobank<\/strong> said \u201cWith the African Continental Free Trade Area offering untold trading growth opportunities for Africa\u2019s businesses, it is imperative that the payment and collection infrastructure proactively caters for the needs of our continent\u2019s small and medium sized businesses by facilitating their cross-border trade. Ecobank\u2019s Rapid-Collect\u2122 further advances our determination to remove intra-African trade barriers by providing a fast, innovative, secure,\u00a0hassle-free and reliable collection solution for our SME customers which leverages the collective scale and strength of our 33-country pan-African network\u201d.<\/p>\n

Isaac Kamuta, Group Head, Payment services, Cash Management and client access, Ecobank Group<\/strong> added: \u201cThe launch of RapidCollect\u2122 reaffirms our leadership as the Best Bank for Cash Management in Africa. It provides a fast, innovative, secure, and reliable solution for our customers which leverages the collective scale and strength of our 33-country pan-African network. Our customers only need an Ecobank account in their home country \u2013 rather than needing an account in every country in which they trade. It removes the delays previously inherent in cross-border business payments and addresses the issues created by fluctuating forex rates.\u201d<\/p>\n

Through RapidCollect, Ecobank\u2019s Commercial Banking and Corporate and Investment Banking customers benefit from the convenience of:<\/p>\n