Partnership with one of Ethiopia's largest private banks sees Thunes
further extend its global payout network.
SINGAPORE and ADDIS ABABA, Ethiopia, July 22, 2021 /PRNewswire/ -- Thunes, a
leading global payments network, today announced a partnership with
Dashen Bank that makes it quicker
and cheaper to send money to Ethiopia from around the world, directly to
their bank accounts and Amole wallets.
Previously, customers making international money transfers and
remittances to Ethiopia faced a
slow, unreliable and expensive transaction process. Now, people can
transfer money to Ethiopia
instantly at more affordable rates using Thunes' network of sending
partners which operates in more than 100 countries.
For added convenience, customers and businesses in Ethiopia will be able to receive funds
straight into their bank accounts or in real time into their Amole
wallets - the mobile money solution from Dashen Bank.
The cross-border payment solution will boost financial
participation in Ethiopia as more
people are expected to open bank and Amole wallet accounts to
receive easy overseas payments. The enhanced remittance service
will also boost the inflow of much-needed foreign currency to the
country's economy, where funds sent from abroad are a vital
lifeline for many communities.
"We are delighted to partner with Dashen
Bank, one of Ethiopia's
leading banks. Thunes continues to invest in and grow our network
in the world's fastest growing economies. Our global partners can
now give their customers enhanced access to this important corridor
in Africa with faster and more
convenient transfers. We look forward to working with more local
players to simplify cross-border transfers for their customers,"
said Andrew Stewart, Global Head
of Networks at Thunes.
Asfaw Alemu, CEO of
Dashen Bank, commented, "We are
pleased to partner with Thunes, a trusted global leader in the
cross-border payments landscape. This technology-powered solution
gives Dashen Bank's customers fast
and convenient access to overseas funds via bank accounts and Amole
mobile wallets. It's another positive step towards our goal of
transforming Ethiopia's financial
services sector and delivering innovations to serve our customers'
needs better."
About Thunes
Thunes is a B2B company that powers payments for the world's
fastest-growing businesses. Corporates and financial institutions
can move funds seamlessly, securely and cost-effectively with
Thunes' well-established, reliable and far-reaching network. Thunes
is used by leading global banks, money transfer operators,
platforms and many other businesses to make payments to bank
accounts, mobile wallets and cash pick-up providers around the
world. With a single, simple connection, your business and
customers can send payments to – and get paid in – every corner of
the world. Instantly.
Thunes is headquartered in Singapore with regional offices in
London, France, Shanghai, New
York, Dubai, and
Nairobi.
For more information, visit www.thunes.com
About Dashen
Dashen Bank was founded by eleven
visionary shareholders and veteran bankers with initial capital of
Birr 14.9 million in September 1995. Upon securing license from the
National Bank of Ethiopia, Dashen
opened its doors for service on the 1st of January 1996 with eleven fully-fledged
branches.
Dashen Bank coined its name from
the highest peak in Ethiopia,
Mount Dashen, and aspires to be unparalleled in banking services.
Ras Dashen is Part of the Simien Mountains National Park, an exotic
setting with unique wildlife and breath-taking views on a landscape
shaped by nature and traditional agriculture.
The Simien Mountains is home to endemic wildlife including the
Walia Ibex, Simien Fox or Ethiopian
Wolf and the Gelada Baboon. Dashen aspires to set new heights in
banking services through the delivery of unique value propositions
second to none.
Headquartered in Addis Ababa,
the Bank is among the biggest private Banks in Ethiopia. It operates through a network of
more than 400+ Branches, ten dedicated Forex Bureaus, 350+ ATMs and
850 plus Point-of-Sale (POS) terminals spread across the length and
breadth of the nation. It has established correspondent banking
relationships with 462 banks covering 70 countries and 170 cities
across the world. Wherever business takes customers around the
world, Dashen Bank is already
there.
Dashen is the most reputable brand in the domestic banking
market; a reputation earned through consistent delivery of values
and preeminence unmatched by its competitors. Apart from
conventional banking, Dashen Bank
also offers Sharia Compliant Interest Free Banking dubbed "SHARIK".
The Bank also works in partnership with leading brands in the
electronic payments industry (AMEX, VISA, MasterCard &
UnionPay) and prominent money transfer operators (Western Union,
MoneyGram, Express Money & Dahabshiil, Ezremit, Transfast,
WorldRemit and Ria).
Dashen Bank and its technology
partner Moneta Technologies introduced "Amole" Digital Omni channel
payment platform that offers subscribers digital payment capacity
and access to aggregated digital product and service from
Retailers, Entertainment Industries, Airtime Dealers, Bill Payment Points, Airlines, Social Media
Players and Third-Party Service providers.
For more information, visit https://dashenbanksc.com/