Fable Fintech inks strategic partnership with XeOPAR
By Leandra Monteiro
Fable Fintech, a global banking infrastructure company enabling SaaS-powered platforms for cross-border, corporate, trade, and FX transactions, announced its strategic partnership with XeOPAR, a one-touch cross-border payments and remittances startup for all. Fable Growth Suite (Retail) platform chosen by XeOPAR serves both inward and outward remittances. In addition, it helps payments providers grow revenue from existing and new customers, and improve profitability.
“Financial services companies are in a constant race to make remittances cheaper, more transparent, and quicker – as close to instant transfers as possible. For their customers, these efforts spell clarity and peace of mind. Our Growth Suite helps XeOPAR achieve this ground-up, furthering their inspired vision of making low-value remittances affordable,” said Naushad Contractor, CEO of Fable Fintech.
Fable prides itself on making white-labelled, highly configurable platforms that other fintechs and banking partners can use out-of-the-box. In XeOPAR’s case, the platform allows them to choose exchange rates, transfer fees, tax limits, volume and velocity limits, as well as transaction purposes for the Full-Fledged Money Changer to service. XeOPAR is set to make the most of Fable Growth Suite (Retail) as it sets up its first P2P remittances corridor from the United Kingdom to India, among others in South East Asia, West Africa, and East Africa in addition to Europe, Singapore, the United States of America, and the Middle East. Fable’s well-established network of integrations, intermediaries, and license and collection partners will allow XeOPAR to take the settlement time-sensitive remittances industry on a competent note.
“XeOPAR is out to shift remittances from being exclusive to high-income earners abroad or high net-worth individuals. We wish to serve the near 30% of the remittance customers who transact in volumes such as USD 500 per month or below. This is a largely under-serviced segment that amounts to USD 240 Billion in remittances. Our vision is to create a reasonably-priced remittance service for them so they can send funds as often as they, without waiting for a large sum to accumulate,” said Arvind Gupta, CEO of XeOPAR.
Fable Fintech is proud to enter a strategic partnership with XeOPAR to power its resolve of serving remittance providers and their customers. The shared vision between the two companies creates a partnership that aims to strengthen the industry as a whole. Fable Fintech is a global banking infrastructure and financial technology company offering SaaS platforms for cross-border, corporate, trade, and FX transactions. XeOPAR’s association with Fable Fintech brings a new focus on affordable, customer-friendly small-value transactions, starting with corridors in the United Kingdom.
IBSi Daily News Analysis
May 30, 2023
Cross Border Payments
Are AI chatbots useful in fighting cyberattacks?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage