TIMESOFMONEY, AXIS BANK INK DEAL FOR REMITTANCE SOLUTION

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TIMESOFMONEY has entered into an agreement with Axis Bank to provide its remittance solution to Axis Bank which will help the bank offer its non-resident customers AxisRemit, the bank’s own branded online remittance services.

With AxisRemit, the bank will provide highspeed online money transfer services for NRIs belonging to major geographies, including the US, UK, Euro Zone (Euro currency area), Canada, Australia, Singapore, Hong Kong and the UAE using TimesofMoney’s white-labelled state of the art remittance platform and know-how.

TimesofMoney’s white-labelled ‘hosted on demand’ solutions will provide the technology platform for AxisRemit. The back-office functions relating to remittances would also be handled by TimesofMoney. This alliance integrates Axis Bank’s core strengths in NRI banking and service delivery with TimesofMoney’s domain knowledge and technical expertise in cross-border remittances, creating a smooth and satisfying remittance experience to NRIs situated across the globe. Speaking on the launch, Hemant Kaul, ED (retail banking), Axis Bank said: “In recent years, there has been a large-scale migration of NRIs to online remittance channels from traditional remittance routes and we intend to be a major player in this arena. The key strengths of AxisRemit will be our transparent pricing policy, superior customer service and faster Turn-Around-Time.”

Speaking on the initiative, Avijit Nanda, president, TimesofMoney, said: “We are delighted to partner with Axis Bank to launch this very significant service for NRIs and be an enabler of the crossborder flows that make India the world’s largest destination of inward remittances. With the extension of our white-labelled solutions, our partners will be able to conduct their business with a high level of security and more convenience.”

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