Aljazira Bank partners Thunes to expand cross-border payments

By Divya Shah

Aljazira Bank has partnered with Thunes to enhance its international remittance capabilities, enabling faster cross-border payments and expanding access to global payment destinations for its retail customers. 

Through the collaboration, the Saudi bank will leverage Thunes’ Direct Global Network to strengthen the speed, reliability and reach of its remittance services. Customers will gain real-time access to billions of bank accounts and mobile wallets worldwide, supported by cross-border payment rails across key corridors in Asia-Pacific, Europe and the Gulf Cooperation Council (GCC). 

The partnership forms part of Aljazira Bank’s efforts to modernise its payments infrastructure and respond to growing demand for seamless international transfers. The enhanced offering will also expand the bank’s payment catalogue with additional endpoints and destination markets. 

Saudi Arabia remains one of the world’s most active cross-border payment markets. According to research conducted by Thunes and Juniper Research, 56% of residents in the Kingdom sent money internationally during the past year, highlighting strong demand for efficient remittance services. 

Fahad Almutairi, Head of Retail Digital Banking and Payments at Aljazira Bank, said the partnership will significantly strengthen the bank’s cross-border payment capabilities while improving customer access to international transfers and digital payment channels. 

The agreement also marks a further expansion of Thunes’ presence in Saudi Arabia, where the company is working with regulated financial institutions to support the Kingdom’s digital transformation ambitions under Vision 2030. 

As digital wallets gain adoption globally and demand for instant payments continues to rise, financial institutions are increasingly looking to modernise remittance infrastructure to deliver faster, more transparent and convenient cross-border payment experiences. 

Ahmad Yaacoub, VP MENA and Country Head for Saudi Arabia at Thunes, said the partnership demonstrates the confidence that established financial institutions place in the company’s network to support digital payment strategies at scale. He added that the collaboration will help connect Saudi Arabia more closely with international markets while supporting the country’s large migrant workforce through streamlined remittance services. 

The deal further strengthens Thunes’ position in the Middle East, as banks across the region seek to improve cross-border payment efficiency and expand access to real-time international money movement.