Media Release
UAE, Mar 10: Instant bank transfers just got faster. UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, has tied up with YES BANK, one of the India’s largest private sector banks, to integrate UAE Exchange FLASHremit, an instant account credit facility, with IMPS (Immediate Payment Service) for real time bank transfers to any bank in India.
IMPS is a network of banks in India, launched by National Payments Corporation of India (NPCI).
With UAE Exchange FLASHremit’s integration into IMPS through YES Bank, customers of UAE Exchange can enjoy real-time credit into any bank in India 24*7*365 days. Remitters would also receive confirmation of credit status by SMS.
Promoth Manghat, Dy CEO, UAE Exchange, said, “UAE Exchange has always explored the possibilities of bringing the best to its customers faster. Toward this aim, we have a special tie up with YES Bank to integrate FLASHremit our instant bank account credit service with IMPS. We have a strong and long relationship with YES BANK and I am sure that this innovative product will further strengthen this relationship, bringing more value to our customers. This service enables our customers not only to get the money transferred to the desired bank account within minutes, but also get a SMS notification when the amount reaches the bank account”.
Speaking on the partnership, Arun Agrawal, group president, International Banking, YES BANK said, “YES BANK is proud to partner with UAE Exchange in introducing this innovative technology to transfer money from GCC Countries to India at a lightning speed. This service will provide great convenience to our customers in GCC which is an important focus region for YES BANK, and provide an instant credit confirmation to them for deposits into their recipients’ accounts. This initiative based on the IMPS platform reinforces YES BANK’s commitment to emerge as a meaningful player in the Innovation & Digital Banking space”.
UAE Exchange serves over 7.9 million customers and their dear ones, worldwide. Currently it has over 750 branches across 32 countries, and is the world’s largest networked remittance brand. Its strong correspondent banking relationship, with close to 150 global banks, adds to the might. More than 9,000 professionals from over 40 nationalities part of team UAE Exchange, strive to achieve excellence and bring delight to customers, worldwide. This penchant for quality has won the ISO certified brand many global awards for quality & business excellence, and earned the trust of customers, partners and regulators alike.
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment, vision & strategy of its founder Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving its organizational character as the Professionals’ Bank of India with the uncompromising Vision of “Building the Best Quality Bank of the World in India by 2020!
The function was attended by senior officials of UAE Exchange, YES BANK, special invitees and the Media.
