Thunes has announced that it has signed a Memorandum of Understanding (MoU) to strategically partner with Banque Saudi Fransi (BSF).
As part of this collaboration, BSF aims to enable consumers and businesses to send efficient, cost-effective, and secure international money transfers with real-time speed and an improved user experience. Additionally, by working together, BSF and Thunes intend to further advance and optimise global money movement for consumers in the Kingdom of Saudi Arabia.
Making sending money worldwide more efficient
The partnership with Thunes is set to enable BSF account holders to access accounts and wallets globally, with this alliance advancing Saudi Arabia’s financial landscape as more banks adopt solutions that go beyond traditional transfer methods.
Furthermore, teaming up underlines both organisations’ commitment to inclusion and innovation, with them planning to actively participate in solidifying Saudi Arabia’s position as a global hub for digital finance under Vision 2030. According to BSF’s officials, by utilising Thunes’ Direct Global Network, the financial institution will be able to provide faster, more reliable, and more accessible remittance services to its users. Additionally, this collaboration underlines BSF’s mission to serve both individuals and businesses while also assisting in the Kingdom’s transformation into an advanced digital economy.
Commenting on the news, representatives from Thunes added that, by partnering with BSF, the two organisations seek to overall improve how money moves out of the Kingdom by making transfers simpler, instant, and more cost-effective. Thunes intends to continue to enter relationships with banks, fintech companies, and wallets across the region, while also supporting the Kingdom’s digital journey.
Besides strategically partnering with BSF, Thunes also recently rolled out real-time payments in Saudi Arabia, so that its members could offer instant payouts directly to bank accounts and wallets in the region. The move sought to optimise transactions for both individuals and businesses through its Direct Global Network, allowing its members to transfer funds in the Kingdom in Saudi Riyals.
