Ripple and its remittance platform, RippleNet, connect Thunes to Attijariwafa bank. Attijariwafa nank customers will thus be able to receive cross-border transfers initiated by the Thunes network more quickly thanks to the connection between RippleNet and Thunes.
????????We are excited to build on our partnership with @ThunesPayments and @Team_Girlextending RippleNet services into Morocco and the greater MENA region! https://t.co/IQrWqr4EaW
— Ripple (@Ripple) July 13, 2022
According a press release from Thunes, “Thunes is connected to Attijariwafa bank through Ripple, the leader in enterprise and blockchain solutions, and its global financial technology RippleNet. The connection to RippleNet and Thunes will allow Attijariwafa bank customers to receive transfers initiated via the Thunes network from all over the world and in a few seconds. Customers of other Moroccan banks can use this service by bank clearing”.
“A new cross-border payment experience”
In this sense, the MENA region management director at Ripple, Brooks Entwistle, said: “We are delighted to announce this extension of our existing partnership with Thunes, and together we look forward to providing faster, more cost-effective, more transparent services, and thereby a new cross-border payments experience for customers in Morocco. ”
For her part, Nawal Alami, Head of Cash Management and Payments at Attijariwafa bank, said: “Thanks to Thunes joining the Ripplenet network, Attijariwafa bank and its international financial partners are now able to exchange transfers transparently, securely and instantly.”
Asma Ben Gamra, VP of network development in the MENA region at Thunes, describes the impact of this partnership: “Morocco is a major force in the North African economy, with a GDP of over $100 billion, and it is a key financial center in the region. Cross-border payments have been a challenge, as in the past customers had to use inefficient and expensive methods to send payments to Morocco. We are now delighted to partner with Attijariwafa bank to enable seamless bank-to-bank payments on all bank accounts in Morocco. This will be a major improvement for customers who need to make regular cross-border payments, and an important step for the expansion of our network in North Africa.”