Mobile money remittance company WorldRemit has partnered with the National Bank of Kenya (NBK) to enable Kenyans living abroad to make instant transfers to home.

In a joint statement issued, WorldRemit says users can now make instant bank deposits to NBK accounts held in both Kenyan Shillings and US Dollars, as well as send funds for cash pickup in KES across NBK's branch network.

NBK, which claims to be one of the largest commercial banks in the Kenya, rolled out diaspora banking in 2016 to enable customers to bank in multiple currencies and create a financial base back home.

WorldRemit says its customers have completed almost two million money transfers to the country since the start of its operations in Kenya. "They now send more than 80 000 transactions every month from the WorldRemit app and Web site."

The remittance service adds that its global customers send almost 700 000 transfers every month to over 140 destinations.

According to 2016 GSMA data, WorldRemit currently processes 74% of all transfers to mobile money accounts coming from money transfer operators.

Wilfred Musau, NBK CEO and Managing Director, said, "Our new partnership with WorldRemit is part of the bank's commitment to increasing banking convenience for our customers abroad."

Ismail Ahmed, founder and CEO at WorldRemit, says, "We're proud to work in partnership with the National Bank of Kenya, a trusted and dependable financial institution with a wide network of branches across the country."

According to the Central Bank of Kenya, Kenyans living abroad sent home over Kshs 177.34 billion (US$1.71 billion) in 2016, up from Kshs 159.82 (US$1.5 billion) in 2015 - an 11% Year-on-Year increase.

This makes diaspora remittances Kenya's largest source of foreign exchange - ahead of key industries such as tea and horticulture, according to WorldRemit and NBK.