The UAE-based lender Commercial Bank of Dubai (CBD) has partnered with cross-border payment services provider Thunes to enable international remittances.

The collaboration will enable CBD customers to send real-time remittances from the UAE. Initially, the service will support fund transfers to bank accounts. Digital transfers to e-wallets and cash-pick up locations will be added thereafter.

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Commercial Bank of Dubai CEO Dr Bernd van Linder said: “We are delighted to partner with Thunes, enabling us to optimise and streamline our processes with a single API to remit money to many countries.

“This is firmly in line with CBD’s default digital strategy to provide customers with innovative and technological products and services to enrich their banking experiences and make banking more seamless and convenient.”

CBD customers can utilise the app or online banking platform to make such cross-border transfers. Currently, the service supports real-time remittances to India, Bangladesh, Philippines and Pakistan.

Thunes CEO Peter De Caluwe said: “We are glad to partner with Commercial Bank of Dubai and join them on their innovative path to become a digital-first bank in UAE.

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“Bringing more services for banks and unlocking opportunities for their customers is part of our mission and we are delighted to offer many remittance destinations for CBD.”

Last year, the UAE recorded around AED165bn ($44.92bn) in remittance outflows, with India, Pakistan and the Philippines emerging as top destinations.

Singapore-headquartered Thunes enables businesses and financial institutions to transfer funds. Its global platform supports financial institutions and other stakeholders in the payments ecosystem in more than 100 countries.

Last year, the company secured Monetary Authority of Singapore (MAS) approval to offer payment services in the country.