UBA Unlocks Instant Cross-Border Transfers

United Bank for Africa (UBA) has redefined digital banking across the continent with its AI-powered chatbot, LEO, now enabling instant cross-border payments using the Pan-African Payment and Settlement System (PAPSS). The move puts UBA at the forefront of Africa’s financial transformation, offering real-time fund transfers in local currencies.

Developed in collaboration with Afrexim Bank, PAPSS allows businesses, individuals, and organisations to send and receive money across African borders without relying on third-party currencies. UBA’s LEO is the first AI chatbot to integrate this system, offering zero charges on the beneficiary side and significantly lower transaction processing fees.

“The introduction of cross-border payments on LEO, in partnership with PAPSS, reflects our commitment to digital innovation, Pan-African integration, and customer-centric banking,” said Oliver Alawuba, Group Managing Director and CEO of UBA.“This is not just a banking upgrade; it is a bold leap into the future of African finance.”

Boosting Trade and Inclusion Through Innovation

The launch of this feature marks a pivotal shift in how intra-African payments are handled, particularly for traders and small businesses. With fast transfers and real-time confirmations, LEO removes the complexity and delays often associated with cross-border transactions.

According to Shamsideen Fasola, UBA’s Group Head of Retail and Digital Banking, “With LEO now fully integrated with the PAPSS infrastructure, UBA customers can send and receive money across African borders in their local currencies within seconds.” He also highlighted additional benefits like enhanced data confidentiality and access to broader remittance services.