The Mangalore based Corporation Bank has inked deal with UAE Exchange, a company engaged in providing global remittances and foreign exchange services, to provide FLASHremit services to its customers. This tie up will allow the bank’s customers to send funds to beneficiaries’ account in the bank.
This facility makes possible transfer of funds from one bank account to another in a few minutes. In addition to this, both the sender and the beneficiary are intimated about the money transfer via an SMS.
Talking about the bank’s agreement with UAE Exchange, the Executive Director of Corporation Bank, Mr. Amar Lal Daultani said that this step has been taken to benefit their existing customers. Mr. Y Sudhir Kumar Shetty, the COO (Global Operations) of UAE Exchange added, “We have had a strong and long relationship with Corporation Bank. This new understanding for FLASHremit further strengthens it. UAE Exchange has always aimed at making money transfer a seamless and speedy experience, which is an aim we share with Corporation Bank.”
It should be noted that many Indian banks have collaborated with FLASHremit, which provides its services globally including countries like Sri Lanka, Philippines, Nepal, Bangladesh and Pakistan.
Source: Rupee Times
By: Neelima Shankar