Arab National Bank’s TeleMoney joins Thunes Direct Global Network

By Gloria Methri

Thunes, the Smart Superhighway for money movement around the world, has partnered with TeleMoney, the International Remittance arm of the Arab National Bank (ANB). TeleMoney has joined the Thunes Direct Global Network, reflecting the increasing confidence that financial institutions in Saudi Arabia have in Thunes as they look to enhance their cross-border payment capabilities.

This alliance will allow TeleMoney to send funds directly to digital wallets and facilitate seamless bank transfers across key markets in Asia and Africa. By leveraging Thunes Direct Global Network, which connects to over 7 billion mobile wallets and bank accounts worldwide, TeleMoney will also benefit from Thunes’ Smart Treasury Management Platform, providing customers with fast, transparent, secure and compliant real-time global payments.

Simon Nelson, Chief Revenue Officer, Middle East & South Asia at Thunes, said, “This alliance with ANB’s TeleMoney is a powerful demonstration of the trust that Thunes has built with established financial institutions in Saudi Arabia. We are honoured to welcome Arab National Bank and TeleMoney as members of the Thunes Direct Global Network. As more banks in the region look to expand their international reach, Thunes is committed to being their partner of choice, providing the technology and infrastructure needed to thrive in today’s digital economy.”

Khalid Al Ibrahim, Head of TeleMoney, added, “TeleMoney’s collaboration with Thunes is a strategic step forward in enhancing our international remittance services and providing our customers with more versatile and efficient payment options across Asia and Africa. This partnership underscores our dedication to innovation and our mission to deliver modern and superior financial services to our customers globally.”

This collaboration positions Thunes as a crucial player in the Saudi Arabian financial ecosystem, contributing to the Kingdom’s vision of becoming a global FinTech hub.