KUALA
LUMPUR, April 10 (Bernama) -- EMQ announced a
strategic partnership with Kotak Mahindra Bank (Kotak) to expand EMQ's network
footprint in India, aimed to meet the growing demand for instant remittances
from over 16 million Indians residing abroad.
"Our partnership enables us to provide more accessible and affordable financial services to the millions of Indians based overseas and their families across India," EMQ's co-founder and chief executive officer, Max Liu said in a statement.
Liu said India is one of the most important strategic growth markets for EMQ as it is the largest recipient of remittances in the world with US$65 billion (RM251.26 billion) currency flow in 2017, according to the World Bank.
Meanwhile, Kotak Mahindra Bank senior executive vice-president and head of Branch Banking and Acquisitions, Virat Diwanji said remittances play a vital role in contributing to India's economic growth and there is a great demand among customers for international remittances.
Diwanji said the partnership with EMQ will complement the bank's offerings and further strengthen capabilities in serving customers on cross-border payments across EMQ's extensive financial settlement network.
EMQ is a financial settlement network in Asia, providing secure and affordable money transfer options for businesses and individuals which currently has a footprint in Hong Kong, Indonesia, Vietnam and Philippines.
"The company plans to expand across the fastest growing trade corridors and economic zones, spanning Asia, Europe, North America and the Middle East," the statement added.
--BERNAMA
"Our partnership enables us to provide more accessible and affordable financial services to the millions of Indians based overseas and their families across India," EMQ's co-founder and chief executive officer, Max Liu said in a statement.
Liu said India is one of the most important strategic growth markets for EMQ as it is the largest recipient of remittances in the world with US$65 billion (RM251.26 billion) currency flow in 2017, according to the World Bank.
Meanwhile, Kotak Mahindra Bank senior executive vice-president and head of Branch Banking and Acquisitions, Virat Diwanji said remittances play a vital role in contributing to India's economic growth and there is a great demand among customers for international remittances.
Diwanji said the partnership with EMQ will complement the bank's offerings and further strengthen capabilities in serving customers on cross-border payments across EMQ's extensive financial settlement network.
EMQ is a financial settlement network in Asia, providing secure and affordable money transfer options for businesses and individuals which currently has a footprint in Hong Kong, Indonesia, Vietnam and Philippines.
"The company plans to expand across the fastest growing trade corridors and economic zones, spanning Asia, Europe, North America and the Middle East," the statement added.
--BERNAMA
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