- Thunes, a major international money transfer provider, has confirmed that it will collaborate with Finastra as part of a push to offer a new software as a service tool.
- The new service will give clients of Finastra the chance to access a set of payment rails that have previously been off limits to them.
- “In a bid to deliver a better global payments experience for everyone, we are delighted to partner with Finastra to deepen connectivity to existing and new financial institutions on the Finastra platform,” said a senior spokesperson for Thunes.
Thunes, a leading international money transfer network based in Singapore, has confirmed that it will build in a software as a service (SaaS) solution to its platform.
The company said that it will work with the payments connectivity platform Finastra to offer the service, known as Fusion Total Messaging.
The service will be integrated into the Thunes system.
It will mean that clients of Finastra will now be able to use payment rails that they were previously unable to access.
In a press statement, Thunes confirmed that these rails will stretch to over 110 markets around the world.
Finastra’s customers tend to be financial organisations and institutions.
The new options will help them to send money in real time, including to markets to which they have never previously sent money.
It will also enable Finastra’s clients to use a range of new payment methods.
Thunes’ head of Strategic Partnerships said that the company was making changes against a backdrop of various challenges, including regulation.
Dawei Wang said that the company felt that it always needed to be challenging itself given the hurdles it seemed to be facing.
“The pace at which the cross-border payment industry is transforming and the rate at which customers’ demands are changing, coupled with the ever increasing regulatory scrutiny, are driving us to constantly challenge ourselves, look beyond the horizon, and seek synergies with dynamic, innovative and engaging partners,” he said.
He went on to say that the company was very pleased to be pairing up with Finastra as part of this new push to build connection.
“In a bid to deliver a better global payments experience for everyone, we are delighted to partner with Finastra to deepen connectivity to existing and new financial institutions on the Finastra platform.”
Thunes has become a leading cross-border payments platform in recent years.
On its website, it claims that “a single, simple connection” is required to let “your business and customers…send payments to – and get paid in – every corner of the world”.
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