Muscat, December 20, 2015: Indian expatriates residing in Oman can now transfer money directly to their beneficiary having account in State Bank of Travancore across borders in India through FLASHremit, a real time account credit facility. This service is being introduced in Oman by Oman UAE Exchange in association with State Bank of Travancore (SBT), one of India’s trusted public sector banks. An agreement, to this effect, was signed by both the entities in the presence of a host of officials from both parties at Hotel Haffa House, Muscat. Another advantage of this service is that the moment the account is credited, both the sender and the beneficiary receives SMS notification.
Commenting on the partnership, Boban MP, CEO, Oman UAE Exchange said, “We have always explored possibilities of introducing innovative technology to transfer money to India at lightning speed. We are glad to partner with State Bank of Travancore for FLASHremit which is famed not just for its lightning speed but also, for its safety. We are confident that this innovative product will bring more value to our customers while remitting to India and further strengthen our relationship with them.”
Speaking on the strategic tie-up, Jeevan Das Narayan, Managing Director, State Bank of Travancore said, “We are pleased to partner with Oman UAE Exchange in implementing this advanced technology to transfer money from Oman to India at real time. This is the age of digital banking and this strategic tie up will offer unparalleled services to our customers residing in Oman by enabling them the convenience to send money instantly to their beneficiaries in India.”
FLASHremit echoes the values of Oman UAE Exchange. Committed to being a responsible and vibrant organisation championing innovation in the global remittance industry, Oman UAE Exchange is driven by its unique technological capabilities to deliver reliable, fast-paced products and solutions to its customers.
About Oman UAE Exchange
Established in 1995, Oman UAE Exchange is the Oman arm of UAE Exchange, the global remittance and foreign exchange brand. The company holds a license from Central Bank of Oman. In a very short span of time, the company has expanded its branch network to 52 branches in the country. Oman UAE Exchange addresses multiple financial requirements of a customer like money transfer and foreign exchange from a single point. Oman UAE Exchange holds an ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 certification and has been conferred with various awards and accolades including the world’s most important business recognitions, THE BIZZ for the year 2015.
About State Bank of Travancore
State Bank of Travancore (SBT), an associate of State Bank of India, has a network of 1,161 branches (842 branches in Kerala). Spread over 19 States and Union Territories of India, the bank has installed 1,634 ATMs all over India, of which 1,287 ATMs are in the state of Kerala. All these ATMs form part of the 45,000 plus mega ATM network of the State Bank Group, the largest ATM network in India. The bank has ambitious plans to further expand its branch network in the coming years.