Al Ansari Exchange & Tranglo partner to improve cross border remittance
By Leandra Monteiro
Al Ansari Exchange, the subsidiary of Al Ansari Financial Services P.J.S.C. an outward personal remittance and foreign exchange company in the UAE, announced its collaboration with cross-border payment hub Tranglo to optimise the seamless cross-border remittance customer experience.
The effort between Al Ansari Exchange and Tranglo to integrate Ripple’s decentralised payment solution will enrich foreign remittance and business payments for both entities. Al Ansari Exchange’s commitment to meeting customer expectations for reliable and efficient services resonates with Tranglo’s focus on improving cross-border transactions by making them faster and more affordable.
Ali Al Najjar, Chief Operating Officer at Al Ansari Financial Services said, “The partnership between is a significant step forward in our journey towards transforming the cross-border remittance landscape in the UAE. With the UAE being the world’s second-largest market for outbound remittances, this move will enable us to meet the growing demands of our customers and enhance their remittance experience through cutting-edge technology and innovative solutions.”
With Tranglo Connect, Al Ansari Exchange will further strengthen streamlined operations for customers, consistent with the company’s mission to continuously innovate its offerings. In 2019, the exchange partnered with Ripple to utilise its cloud-based financial network technology. The initiative provided its customers with flexible, faster and safer money transfer solutions that aligned with the UAE’s FinTech agenda.
Jacky Lee, Group CEO of Tranglo said, “Tranglo is elated to enter this partnershio to strengthen our presence in the UAE. We look forward to enhancing the cross-border payment experience and improving efficiency and convenience for individuals and businesses conducting international transactions. Together, we will drive innovation and reshape the way users remit money, contributing to a more inclusive financial ecosystem.”
IBSi Daily News Analysis
September 22, 2023
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