DCB Bank Limited and Western Union Business Solutions to Support Indian SME’s Engage in Cross-border Trade
29 9월 2015 - 9:30PM
Business Wire
DCB Bank Limited (formerly Development Credit Bank Ltd.) and
Western Union Business Solutions, a business unit of The
Western Union Company (NYSE:WU), announced a new collaboration to
support small and medium-sized enterprises (SMEs) in India engage
in cross-border trade.
Western Union Business Solutions’ global payments technology
platform and foreign exchange services will be used by DCB Bank to
drive its SME growth strategy and provide such customers with
simple, customized solutions for outward remittances from India.
Benefits include:
- Global correspondent banks: Access to
Western Union’s global network of banks to send funds in a cost
effective, fast and secure way to suppliers globally.
- Transparent process: Easy access to the
transaction status – from initiation to receipt by
beneficiary.
- Doorstep service: A dedicated person
will visit you to complete all documentation requirements.
- Transparent process: Cross-border
payments in a choice of ten currencies, including Arab Emirates
Dirham and Singapore Dollar.
“Many customers are seeing growth in their international
business, which matches our own growth as a company,” said
Praveen Kutty, Head Retail & SME Banking, DCB Bank
Limited. “Now is therefore the right time for us to expand
service offerings. With the addition of Western Union Business
Solutions’ global payment and FX capabilities, we will deliver
stronger, faster, more efficient services that enable customers to
manage their international business more successfully than
ever.”
Small and medium-sized enterprises (SME) have proven to be a
vital component to India’s economy. In 2014, SMEs accounted for 40
percent of India’s exports of goods and services, totaling 9,952
billion rupees or 156 billion USD.
Kerry Agiasotis, President, Western Union Business
Solutions, added, “Small and medium-sized businesses are unsung
heroes driving the Indian economy and they remain underserved. Our
collaboration with DCB Bank will help change that by bringing SMEs
improved access to financial and foreign exchange services they
need to efficiently participate in international markets and
facilitate their business growth. We are excited by the significant
potential we see in the Indian market.”
Western Union Business Solutions is a leader in foreign exchange
and cross-border payments, seamlessly connected across one global
network. With industry expertise and market-leading technology, we
help more than 100,000 clients deliver funds fast.
About DCB Bank Limited
DCB Bank Limited (Formerly Development Credit Bank Ltd.) is a
modern emerging new generation private sector bank with 154
branches across 17 states and 2 union territories. It is a
scheduled commercial bank regulated by the Reserve Bank of India.
It is professionally managed and governed. DCB Bank has
contemporary technology and infrastructure including state of the
art internet banking for personal as well as business banking
customers.
The Bank’s business segments are Retail, micro-SMEs, SMEs,
mid-Corporate, Microfinance Institutions (MFI), Agriculture,
Commodities, Government, Public Sector, Indian Banks, Co-operative
Banks and Non-Banking Finance Companies (NBFC). DCB Bank has
approximately 500,000 customers.
The Bank has deep roots in India since its inception in 1930s.
Its promoter and promoter group the Aga Khan Fund for Economic
Development (AKFED) and Platinum Jubilee Investments Ltd. holds
over 16% stake. AKFED is an international development
enterprise.
It is dedicated to promoting entrepreneurship and building
economically sound companies. AKFED operates as a network of
affiliates with more than 90 separate project companies over 30,000
people. The fund is active in 16 countries in the developing world.
AKFED had co-promoted HDFC in India in the late 70s.
About Western Union Business Solutions
Western Union Business Solutions enables companies of all
sizes to send and receive international payments and manage global
cash flow, creating unique solutions tailored to suit their
individual needs. It is a business unit of The Western Union
Company (NYSE: WU), a leading nonbank provider of cross border
payments, which offers Business Solutions services in over 30
countries. Clients are supported by a network of trading offices,
strategic banking relationships and a global clearing network and
can send cross-border foreign exchange payments in more than 135
currencies.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
June 30, 2015, the Western Union, Vigo and Orlandi Valuta branded
services were offered through a combined network of over 500,000
agent locations in 200 countries and territories and over 100,000
ATMs and kiosks, and included the capability to send money to
millions of bank accounts. In 2014, The Western Union Company
completed 255 million consumer-to-consumer transactions worldwide,
moving $85 billion of principal between consumers, and 484 million
business payments. For more information, visit
www.westernunion.com.
WU-GWU-F
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version on businesswire.com: http://www.businesswire.com/news/home/20150929005731/en/
Western Union Business SolutionsDan Díaz+1 (720)
332-5564daniel.diaz@WesternUnion.comorDCB Bank Limited (formerly
Development Credit Bank Ltd.)Gaurav MehtaHead Marketing,
PR & Communications6th Floor Tower A, Peninsula Business
ParkSenapati Bapat Marg, Lower ParelMumbai 400013Cellphone +91
9870432101Landline +91 22 66187000gauravm@dcbbank.com
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