By Esohe Aifuwa
UBA’sAIChatbotPioneers Instant Cross-Border Payments in Africa
United Bank for Africa (UBA) has taken a bold step forward in digital banking by upgrading its AI-powered chatbot, LEO, to handle instant cross-border payments, a first for Africa.
This new feature allows customers to transfer money across African nations quickly and securely, transforming how trade and personal transactions are conducted on the continent.
Through a partnership with the African Export-Import Bank, LEO now integrates with the Pan-African Payment and Settlement System (PAPSS), which enables individuals, businesses, and traders to send and receive funds in local currencies in countries where PAPSS is supported by central banks. The service is fast, taking only seconds, and offers lower transaction fees with no charges for recipients.
Read more:https://punchng.com/uba-unveils-ai-powered-cross-border-payment-platform/?amp
UBA’s Group Managing Director, Oliver Alawuba described the development as a game-changer. “This isn’t just about banking, it’s about connecting Africa through smarter, faster financial solutions. LEO’s new capability supports trade and financial inclusion across borders,” he said.
The platform also prioritizes security, ensuring safe and confidential transactions while offering a range of remittance options. UBA’s Group Head of Retail and Digital Banking, Shamsideen Fasola emphasized the impact: “With LEO, our customers can now move money across Africa effortlessly, boosting trade and breaking down financial barriers.”
This milestone strengthens UBA’s position as a leader in digital banking innovation. Serving over 45 million customers across 20 African countries, the UK, the US, France, and the UAE, UBA continues to drive financial access and innovation with its 25,000-strong workforce.
Continue reading:https://techeconomy.ng/ubas-leo-becomes-africas-first-chatbot-to-power-cross-border-payments/
