Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Global payment solutions leader EastNets partners with Kuwait's Boubyan bank to launch SWIFT gpi for faster cross-border payments
 

Dubai, UAE, June 6, 2018:  Leading provider of compliance, payment and cloud solutions, EastNets has announced its partnership with Kuwait’s Boubyan Bank to roll out SWIFT’s global payments innovation (gpi) service for its customers across the country.

With the introduction of SWIFT gpi, Boubyan Bank will offer its customers high-speed cross-border payments with end to end tracking, transparency on bank fees and FX rates (Foreign Exchange), ultimately allowing the bank to credit payments to end beneficiaries within minutes, even seconds. 

EastNets will assist Boubyan Bank in implementing SWIFT gpi without having to re-engineer the bank’s existing payment systems, thereby lowering the cost of ownership, decreasing time to market, reducing risks and providing greater payment efficiency.

The roll-out of the SWIFT gpi solution will allow Boubyan customers to track the status of their cross-border payments in real time, improve cash forecasting and receive confirmation notices when funds have been received by the end beneficiary. The project will be delivered in phases where EastNets’ experts will support the bank through all stages of implementing SWIFT gpi, from initiation until completion.

EastNets CEO, Hazem Mulhim said, “Today, bank customers demand access to cross-border payment services within a secure and fast environment. Through this partnership, EastNets will introduce SWIFT gpi, the industry gold-standard for cross-border payments, to customers of Boubyan Bank in Kuwait and around the world. We have always been committed to helping businesses transform the way they manage complexity and will continue to develop innovative and efficient solutions that help financial institutions support the dynamic needs of customers and equip them for opportunities and challenges in the future.” 

Commenting on the partnership, Deputy Chief Executive Officer, Boubyan Bank Abdullah Al-Najran Al-Tuwaijri said, “We are committed to offering our clients the best services by way of increased efficiency, compliance, security and traceability- all of which are imperative for businesses that rely on international payments on a day-to day basis. With the implementation of SWIFT gpi, we are proud to be adopting what is now considered the gold standard for international payments and believe that EastNets is the ideal partner when it comes to delivering efficiency, excellence and strategic advantage to our clients.” 


Posted by : Dubai PR Network Editorial Team
Viewed 3965 times
PR Category : Banking & Investments
Posted on : Wednesday, June 6, 2018  3:52:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Central Bank of the UAE
Next Story : Central Bank of the UAE Holds its 4th Board of Directors Mee...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Skyline Book Fair 2018 [10394-Views]
The Bremont Waterman [9852-Views]
Holiday hair: The best product to keep your locks smelling fresh and protected [9577-Views]
ServeU to Take Huge Leap Forward with Smart Cleaning Robots [7741-Views]
Emirates celebrates inaugural flight to London Stansted [7228-Views]
Chronoswiss' Exclusive Limited Edition Flying Regulator Marks 31st Anniversary of Kitzbuhe... [7228-Views]
Blackberry Key2: An Icon Reborn [7174-Views]
Marchon Eyewear Summer 2018 Collections [7174-Views]
The Future Takes The Past Tense [7046-Views]
CSR Initiatives by Malabar Gold & Diamonds continues in full strength [6838-Views]
du Distributes Eid Gifts at Al Jalila Children's Hospital [6820-Views]
Consulate General of India Mr. Vipul came as CHIEF GUEST at the blood donation camp organi... [6332-Views]
DWTC events drive AED 12.7bn in economic value for Dubai, fuelling record 3.3% contributio... [6112-Views]
Al-Futtaim ACE celebrates Eid with exciting offers and activities [6045-Views]
24 hour Mega Sale at Dalma Mall! [5929-Views]
Beauty on the Go [5612-Views]
Purify Your Skin with Skin Republic [5508-Views]
A Sparkling Gift Guide for Eid al-Fitr by Mouawad [5490-Views]
Filorga introduces two new additions to its UV-BRONZE range offering a comprehensive range... [5466-Views]
Al Ghandi Auto brings the most Affordable Electric Vehicle - Chevrolet Bolt EV - to the UA... [5398-Views]
Skin Hydration is one of the primary challenges our skin faces in the UAE [5075-Views]
Rapid renewal of smartphone portfolio brings next generation Nokia 5 and Nokia 3 to fans ... [4837-Views]
New open-air member of the AMG GT family [4734-Views]
Hamdan Bin Mohammed Heritage Center distributes Eidia on first day of Eid [4734-Views]
Abu Dhabi Treats Eid Al Fitr Visitors to Shopping Bonanza with 90% Discounts Across 15 Sel... [4697-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories