Digital finance: Aljazira Bank selects Thunes to power next-generation global remittances from Saudi Arabia
Thunes, the Smart Superhighway to move money around the world, has signed a new agreement with Aljazira Bank, one of Saudi Arabia’s leading financial institutions, to modernize and expand its international remittance services.
“Through this collaboration, Aljazira Bank will significantly enhance the speed and reliability of consumer remittances and broaden its payment catalogue with new endpoints and destinations around the world.” – according to the press release.
“By leveraging Thunes’ trusted Direct Global Network, the bank’s retail customers will gain real-time access to pay to billions of bank accounts and mobile wallets worldwide, with optimised cross-border rails spanning key, high volume corridors in Asia Pacific, Europe, and the Gulf Cooperation Council.” – the company said.
Thunes continues to expand its relationships in Saudi Arabia, supporting established, highly regulated local institutions to meet a surge in market demand as the Kingdom solidifies its position as a global hub for digital finance under Vision 2030. According to research by Thunes and Juniper Research, Saudi Arabia has one of the highest volumes of cross-border payment activity globally, with 56% of residents sending money internationally in the past year.
The agreement with Aljazira Bank reinforces the profound trust that Saudi Arabia’s premier banking players place in Thunes to power their core cross-border capabilities instantly, securely and at scale.
“At Aljazira Bank, our focus is on providing our customers with world-class financial services that are fast, secure, and convenient. Leveraging Thunes’ trusted Direct Global Network will enable us to upgrade our cross-border payment capabilities significantly.
With the growth of new payment innovation and soaring international popularity of mobile wallets, we are prioritizing our customers’ unprecedented access and faster account transfers across key international corridors.”
Fahad Almutairi, Head of Retail Digital Banking and Payments at Aljazira Bank.
“We are honored to be chosen by Aljazira Bank, a cornerstone of Saudi Arabia’s banking sector. This agreement reflects the deep trust that established financial institutions place in Thunes to support their digital strategy.
Together, we are connecting the Kingdom to the world, transforming how millions of people send money home. It’s a seamless experience that empowers the Kingdom’s essential migrant workforce and fuels the broader KSA economy.”
Ahmad Yaacoub, VP MENA and Country Head for Kingdom of Saudi Arabia
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Thunes is the Smart Superhighway to move money around the world. Thunes’ proprietary Direct Global Network allows Members to make payments in real-time in over 140 countries and more than 90 currencies. Thunes’ Network connects directly to over 12 billion mobile wallets, stablecoin wallets and bank accounts worldwide, as well as 15 billion cards via more than 220 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more.
Thunes’ Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes’ Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks.
Headquartered in Singapore, Thunes has offices in 14 locations, including Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, New York, Paris, Riyadh, San Francisco and Shanghai.
