RAKBANK Partners with Xpress Money to Offer Convenient Money Transfer Services to 20 Countries Worldwide

June 28th 2018: RAKBANK has partnered with Xpress Money, one of the most dependable money transfer organizations in the world, to offer convenient money transfer services to RAKBANK customers through the Bank’s award-winning remittance service, RAKMoneyTransfer (RMT). The Bank’s money remittance service is available in 5 countries including India, Pakistan, Philippines, Sri Lanka and Nepal. By virtue of this partnership with Xpress Money, RAKBANK has expanded its RMT service to 20 new countries with a total reach of 25 countries* worldwide. It will also allow customers to make hassle-free money transfers with greater convenience and maximum security.

RAKMoneyTransfer service has been specially designed to meet the remittance needs of customers who can conveniently remit money from their RAKBANK Account or Credit Card to the aforementioned countries. In addition, RMT offers another convenient choice of cash pickup options through 85,000 Xpress Money agent locations, out of the 200,000 locations that Xpress Money has globally. RMT also provides customers with highly competitive exchange rates to ensure the most convenient, secure and cost-effective transfer solution that can be completed at just the click of a button using RAKBANK’s Digital Banking platform and through all of the Bank’s branches.

Peter England, RAKBANK CEO, said: “In line with the Bank’s strategy to offer customers a seamless banking experience, we are currently focusing on aligning our offering through strategic partnerships to increase the Bank’s remittance footprint. We are delighted to have partnered with Xpress Money to extend our RMT service into new territories with the objective of offering the expat community in the UAE the ability to immediately remit money back home. Therefore, the partnership will enable our customers to make secure, faster and convenient money transfers to 20 countries.

Sudhesh Giriyan, COO, Xpress Money, said: “It has been a constant endeavor of Xpress Money to make money transfers easily accessible and affordable to customers globally. Through our global network of partners in 165 countries, we offer convenient money transfer services, with multiple pay-in and pay-out options, suitable to our customers’ needs. This collaboration gives us the opportunity to offer digital solutions through RAKBANK, elevating the level of their customers’ convenience as they can now send money anytime, to 20 new countries. We are happy to have partnered with a brand that is also working towards a similar objective that benefits the end customer.

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About ‘Xpress Money’:

Incorporated in 1999, 'Xpress Money' is a global money transfer brand with a thriving presence in more than 170 countries across the globe through partnerships that have a network of over 200,000 locations. It is one of the most dependable and renowned international money transfer brands across the globe. 'Xpress Money' provides customers convenient, simple and secure ways to transfer money across geographies. Its widespread network is strengthened by collaborations with renowned organizations that include international money transfer operators (IMTOs), banking as well as non-banking institutions, retail chains, online remittance players and fintech companies. Xpress Money's state of the art compliance and security policies ensure customers a secure and hassle-free money transfer process.

Xpress Money is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.

For more information, follow us on Facebook: www.facebook.com/XpressMoney, Twitter: @Xpress_Money LinkedIn: https://www.linkedin.com/company/xpress-money-services-ltd/ or visit www.xpressmoney.com

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