InstaReM to power KBank’s cross-border payments to select markets
May 23, 2019
Singapore/Bangkok, 23 May2019: InstaReM, a leading digital cross-border money transfer company with a global presence, has announced that it will now power cross-border payments for the clients of KASIKORNBANK (KBank), Thailand’s leading banking group, across select markets.
Announcing InstaReM’s partnership with KBank, Prajit Nanu, co-founder and CEO of InstaReM said, “We are delighted to be working together with KBank to power their outward remittances. This relationship further cements InstaReM’s position as a leading provider for cross-border transactions. With InstaReM, KBank clients will be able to realize faster turnarounds, while providing certainty on delivery times and payout amounts.”
InstaReM already powers payments for three of the top ten Southeast Asian Banks and leading financial insitutions across the globe. This partnership with KASIKORNBANK helps InstaReM further entrench itself as a leading player in the institutional payments space.
Mr Silawat Santivisat, Senior Executive Vice President of KASIKORNBANK, said, “This is an important partnership for KBank at an exciting stage in our evolution. We are continuing to expand our cross-border payment capabilities into key markets across the world, as we are witnessing increasing demand from our customers. We are confident that InstaReM’s services will complement our offering and further strengthen our capabilities in serving our clients.”
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Singapore-headquartered InstaReM is the only digital cross-border payments company with presence across Asia-Pacific, North America and Europe, covering 40+ countries. It has created a unique payments mesh which is being leveraged by individuals, SMEs and financial institutions to make fast, low-cost cross-border payments to more than 55+ countries. InstaReM’s mission is to democratize money movements across the globe by developing innovative products that provide individual and enterprise users with seamless digital payments experiences. The company has significantly enhanced its payments capabilities in the recent past by entering into strategic partnerships with global payments leaders such as Ripple, Visa and First Data. Since starting operations in 2015, InstaReM has raised US$ 59.5 million in three rounds of funding. Its investors include Global Founders Capital, Vertex Ventures, Fullerton Financial Holdings, GSR Ventures, SBI-FMO Emerging Asia Financial Sector Fund, MDI Ventures, Beacon Venture Capital, Vertex Growth Fund and Atinum Investment.
For more information, visit https://www.instarem.com/
The KASIKORNBANK Public Company Limited was established on June 8,1945 . Throughout the past 70 years, the Bank has always strived to develop our organization and offer financial product initiatives plus excellent service delivery to match our slogan, “Towards Service Excellence” and “Customer Centricity” concept. This led to the consolidation of KASIKORNBANK and subsidiaries (K Companies) and “K KASIKORNTHAI” symbol was adopted to guarantee quality and standards.
KASIKORNBANK aims to be a most innovative, dynamic, and proactive customer-centric financial institution that creates sustainability for all stakeholders and aims to harmoniously combine technology and human resources to sustainably create world-class-quality financial services, so as to achieve optimal benefits for all stakeholders.
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