Major International Bank ANZ Utilizes Pay2Home
Provides low-cost funds transfer solution for expatriate and migrant workers
SINGAPORE, July 2006 Australia & New Zealand Banking Group Limited (ANZ), which is among the world's top 50 banks, has teamed up with Pay2Home to offer cheaper and faster remittances to ANZ clients in Singapore, Vietnam, London and American Samoa.
Pay2Home Director, David Hulme, said he was proud to be associated with the world-renowned bank and pleased that ANZ is partnering Pay2Home to enter the migration related payments industry.
"Our innovative payment platform is simple and cost-effective, providing far greater opportunities for banks to get back in the game," he said.
"In the past, banks have been locked out of low value high volume payments largely because of the inefficiencies associated with correspondent banking relationships, outdated technology and processes and the cumbersome nature of SWIFT."
"But we've now cut the complexity out of the funds transfer process, making it more efficient, more predictable, faster, and best of all, cheaper for the end-user. It ultimately puts more cash in the wallets of both remitters and beneficiaries."
ANZ's partnership with Pay2Home is also allowing it to flexibly tailor its services to diverse clients in the region.
In American Samoa for example, where ANZ brings banking to the community using mobile banks, thousands of migrant workers now have access to a complete suite of relevant banking services including funds transfers.
ANZ American Samoa Managing Director, Gary Ayre, said: "ANZ American Samoa chose to work with Pay2Home because of its simple technology solution, which cut operating costs and transaction times while also passing the savings on to the end-user."
Pay2Home allows banks, licensed remittance businesses and other companies that support remitters to offer differentiated solutions under their own brands, saving them time and money while keeping investment and maintenance costs low.
Pay2Home Directors, David Hulme and Wayne Salamonsen, won the 2005 Australian Chamber of Commerce's Entrepreneur Award.
- Wayne Salamonsen
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