UBA Pioneers AI Cross-Border Payments With Chatbot LEO
AI cross-border payments go live as UBA’s chatbot LEO becomes the first in Africa to offer instant, secure local currency transfers through PAPSS
AI cross-border payments are now a reality in Africa, as United Bank for Africa (UBA) has enabled its AI-powered chatbot, LEO, to carry out seamless fund transfers across borders.
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With this move, UBA becomes the first bank on the continent to introduce AI-driven cross-border transactions through a chatbot.
The platform is powered by the Pan-African Payment and Settlement System (PAPSS), developed in collaboration with Afreximbank.
The system allows individuals, traders and corporates to send and receive money in local currencies between African countries where PAPSS is supported by central banks.
Speaking on the milestone, UBA Group CEO, Oliver Alawuba, said, “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.”
LEO now allows instant payments within seconds. Users can access it through self-service channels and enjoy low fees and no charges on the beneficiary’s end. The service also offers improved confidentiality and a wider range of remittance options.
“This is a transformative step in Africa’s financial services landscape,” noted 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.”
AI cross-border payments via LEO support the broader goals of the African Continental Free Trade Area (AfCFTA), helping to formalise trade, promote financial inclusion and improve intra-African commerce.
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UBA’s rollout positions the bank at the forefront of digital banking on the continent, empowering over 45 million customers across 20 African countries, as well as its global locations in the UK, US, France and the UAE.
