Customers of SBI Remit and SBI Cosmoney will now be able to make real-time cross-border payments across selected markets.
The service is powered by Singapore-headquartered financial payments company InstaReM, according to a press statement.
Announcing InstaReM’s partnership with SBI Remit and SBI Cosmoney, Prajit Nanu, co-founder and CEO of InstaReM said, “We are delighted to be working together with SBI Remit and SBI Cosmoney to power their outward real-time remittances. This relationship further cements InstaReM’s position as a leading provider for real-time payments.”
He added that with the collaboration, clients of SBI Remit and SBI Cosmoney “will be able to realise faster turnarounds, while being assured of certainty on delivery times and payout amounts.”
Joe Kim, CEO of SBI Cosmoney, said, “We are pleased to be partnering with InstaReM in delivering swift, secure and efficient remittance services for our customers.”