Summary of Diamond Trust Bank (DTB) and Network International Partnership
Entities: Diamond Trust Bank (DTB, Kenya) and Network International (digital payments company serving MEA region)
Key Points:
- Partnership Announcement:
- DTB has partnered with Network International to expand its digital payment product range and reinforce its digital-first strategy.
- Scope of Collaboration:
- Network International will provide DTB with digital payment solutions, including robust security protocols like fraud prevention and 3D Secure authentication.
- DTB will use Network International’s platform for hosting and processing debit, credit, and prepaid cards.
- Objective:
- DTB aims to accelerate its digital payments transformation in Kenya amid increasing interest due to rising internet penetration and mobile phone usage.
- Background of DTB:
- Established in 1946 and headquartered in Nairobi.
- Operates over 155 branches across Kenya, Burundi, Uganda, and Tanzania.
- Comments from Leadership:
- Dr. Reda Helal, Network International’s Group MD of Processing, Africa, and Co-head of Group Processing, stated the partnership aims to support the rising interest in digital services among the emerging middle class, youth, and SME market segments, especially the unbanked, for financial inclusion and a digital lifestyle.
- About Network International:
- Founded in 1994, the company provides various online and offline payment acceptance methods and manages and processes payment credentials and transactions for its merchant clients.
