The pan-African bank United Bank for Africa (UBA) Plc is making a major breakthrough in the field of digital banking services. LEO is now able to carry out cross-border payment transactions

Leo is an intelligent chatbot from United Bank for Africa (UBA) Plc, based on AI. With its new feature, LEO becomes the very first chatbot in Africa to enable instant money transfers between African countries, offering customers a smooth, fast and fully digital solution for sending funds across the continent

This innovation is based on the Pan-African Payment and Settlement System (PAPSS), set up in partnership with the African Export-Import Bank (Afrexim Bank). It allows individuals, merchants and businesses to make payments in local currency between African countries where central banks have authorized the use of PAPSS

With this innovation, UBA enables account holders, traders, and businesses to transact quickly, efficiently, and securely across the continent, while formalizing informal trade flows and supporting the goals of the African Continental Free Trade Area (AfCFTA).

According to Oliver Alawuba, CEO of the UBA Group, “As a truly African bank, UBA aims to constantly push the boundaries in order to offer services adapted to the realities of the continent. The integration of cross-border payments on LEO, in collaboration with PAPSS, is a testament to our commitment to digital innovation, pan-African integration, and customer-centric banking. It is not a simple technological update, it is a leap forward towards the future of African finance.”