UBA's LEO Becomes First AI Chatbot to Enable PAPSS Cross-Border Payments

The Pan-African Payment and Settlement System (PAPSS ), an inaugural of the African Export-Import Bank (Afreximbank ), has reached a caller milestone successful its ngo to alteration Africa’s outgo infrastructure. Through a caller concern with United Bank for Africa (UBA ), PAPSS is present operational connected UBA’s AI-powered chatbot, LEO, enabling seamless cross-border payments crossed the continent via integer self-service.

This improvement marks the archetypal clip a conversational AI level successful Africa has been integrated with PAPSS to facilitate instant payments successful section currencies crossed African borders. LEO users wrong the UBA ecosystem tin present nonstop and person funds successful a substance of seconds, done unafraid and automated channels, without incurring charges connected the beneficiary end. The diagnostic is disposable crossed LEO’s integer touchpoints, supporting some idiosyncratic and concern users.

PAPSS, launched to code the inefficiencies and costs associated with cross-border transactions successful Africa, is designed to wide and settee intra-African payments successful real-time and successful section currencies. Its integration with UBA’s integer channels aligns with ongoing efforts to region commercialized bottlenecks, fortify fiscal inclusion, and accelerate the occurrence of the African Continental Free Trade Area (AfCFTA).

Speaking connected the development, UBA Group Managing Director and Chief Executive Officer, Oliver Alawuba, said the collaboration reflects the bank’s strategy of driving integer innovation and enabling Pan-African integration.

“The instauration of cross-border payments connected LEO, successful concern with PAPSS, reflects our committedness to integer innovation, Pan-African integration, and customer-centric banking. This is not conscionable a banking upgrade; it is simply a bold leap into the aboriginal of African finance”

– Oliver Alawuba, Managing Director and Chief Executive Officer, UBA Group. 

Also commenting connected the rollout, UBA Group Head of Retail and Digital Banking, Shamsideen Fasola, highlighted the broader interaction of this integration.

“This is simply a transformative measurement successful Africa’s fiscal services landscape. With LEO present afloat integrated with the PAPSS infrastructure, UBA customers tin nonstop and person wealth crossed African borders successful their section currencies wrong seconds. We’re not conscionable simplifying transactions—we’re fostering intra-African commercialized and breaking down longstanding barriers to fiscal inclusion.”

-Shamsideen Fasola, Head of Retail and Digital Banking, UBA Group. 

Beyond convenience, this AI-powered capableness enhances security, ensures confidentiality, and importantly reduces transaction costs. It supports businesses, informal traders, and individuals, offering a reliable means to transact crossed African markets without the accepted friction associated with cross-border remittance.

With cardinal banks crossed the continent already onboarded onto PAPSS, the increasing database of spouse institutions is expected to catalyse a continent-wide translation successful fiscal interoperability. This latest collaboration with UBA marks a pivotal measurement successful gathering a unified African outgo ecosystem that is fast, accessible, and reflective of Africa’s integer future.