Siam Commercial Bank Chooses Thunes Direct Global Network to Bolster Remittance Services

Cross-border payment firm Thunes is expanding its partnership with Thailand-based digital bank Siam Commercial Bank (SCB). Through the collaboration, Thunes plans to enhance SCB’s international remittance services. 

Siam Commercial Bank, a longstanding member of the Thunes Direct Global Network, aims to give its customers access to instant, transparent and dependable remittance transfers to 26 countries in 17 currencies.

Through Thunes’ Direct Global Network, users of SCB’s ‘EASY’ app can send money in real-time to key destinations including Australia, Canada, Cambodia, China, India, Indonesia, Japan, Malaysia, Philippines, and South Korea in local currencies.

Simon Nelson, chief revenue officer for the Middle East and South Asia at Thunes, said: “Our global infrastructure, combined with our Fortress Compliance Platform and SmartX Treasury System, enables SCB customers with transparent, instant and dependable international money transfers.”

Thunes explained that the extensive global reach of its network ensures fast speed, control, visibility, protection, and cost efficiencies for its members making payments across borders.

Thanawatn Kittisuwan, executive vice president at Siam Commercial Bank

Thanawatn Kittisuwan, first executive vice president and head of the digital juristic and payment unit at Siam Commercial Bank, also added: “According to Statista Market Insights, the international money transfer market in 2024 grew by over 13 per cent compared to 2023 and is expected to continue increasing. This reflects the behaviour of consumers in the digital age who are increasingly turning to digital platforms for financial transactions.

“SCB will continue leveraging modern technology to develop new financial solutions, enhancing our service potential and scope. Our collaboration with Thunes aims to expand our international money transfer service worldwide via the SCB EASY app. Customers will receive the full amount transferred without additional fees, and with convenient, fast, and real-time transactions available 24/7.

“We believe this collaboration will support the demand for international financial transactions and enhance the seamless financial experience for our customers, connecting financial services globally in a new era without borders.”

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