TeleMoney, the International Remittance Arm of Arab National Bank, Joins Thunes' Direct Global Network

RIYADH, Kingdom of Saudi Arabia, Sept. 11, 2024 /PRNewswire/ -- Thunes, the Smart Superhighway for money movement around the world, announces a strategic alliance with TeleMoney, the International Remittance arm of Arab National Bank (ANB). This collaboration marks a significant milestone, as TeleMoney's membership in the Thunes Direct Global Network underscores the growing trust that Thunes has earned from established financial institutions in Saudi Arabia seeking to expand their global cross-border payment capabilities.

This alliance will allow TeleMoney to send funds directly to digital wallets and facilitate seamless bank transfers across key markets in Asia and Africa. By leveraging Thunes Direct Global Network, which connects to over 7 billion mobile wallets and bank accounts worldwide, TeleMoney will also benefit from Thunes' Smart Treasury Management Platform, providing customers with fast, transparent, secure and compliant real-time global payments.

Simon Nelson, Chief Revenue Officer, Middle East & South Asia at Thunes said "This alliance with ANB's TeleMoney is a powerful demonstration of the trust that Thunes has built with established financial institutions in Saudi Arabia. We are honoured to welcome Arab National Bank and TeleMoney as members of the Thunes Direct Global Network. As more banks in the region look to expand their international reach, Thunes is committed to being their partner of choice, providing the technology and infrastructure needed to thrive in today's digital economy."

Khalid Al Ibrahim, Head of TeleMoney commented, "TeleMoney's collaboration with Thunes is a strategic step forward in enhancing our international remittance services and providing our customers with more versatile and efficient payment options across Asia and Africa. This partnership underscores our dedication to innovation and our mission to deliver modern and superior financial services to our customers globally."

This collaboration positions Thunes as a key player in the Saudi Arabian financial ecosystem, contributing to the Kingdom's vision of becoming a leading global fintech hub. It highlights the confidence that Saudi Arabia's traditional banking sector places in Thunes' ability to drive innovation and efficiency in the rapidly evolving global financial services landscape.

Contact:
Amelia Fairbairn, Headland, thunes@headlandconsultancy.com
Mathieu Limousi, Chief Marketing Officer, Thunes, mathieu.limousi@thunes.com

About Thunes:
Thunes is the Smart Superhighway for money movement around the world. Thunes' proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes' Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, via more than 350 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. 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. Thunes' Direct Global Network differentiates itself through its worldwide reach, in-house Smart Treasury Management Platform and Fortress Compliance Infrastructure, ensuring Members of the Network receive unrivalled speed, control, visibility, protection and cost efficiencies when making real-time payments globally. Headquartered in Singapore, Thunes has offices in 12 locations, including Barcelona, Beijing, Dubai, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Sao Paulo and Shanghai. For more information, visit: https://www.thunes.com/

About TeleMoney:
TeleMoney is a premier provider of international money transfer services in Saudi Arabia, offering a comprehensive suite of options for international transfers with ease and efficiency. Through its cutting-edge digital channels and a network of over 60 dedicated TM Centers across the Kingdom, TeleMoney ensures a seamless and user-friendly experience. Since its inception in 1992, the service has expanded to include several countries with a focus on key corridors such as India, Pakistan, Philippines, Nepal, Bangladesh, Sri Lanka, Indonesia, Egypt, & Jordan.