IndusInd Bank has partnered with J.P. Morgan Payments to enhance its outward remittance services, enabling customers to send money in 123 currencies through direct settlements in beneficiaries' local currencies.
The bank has integrated J.P. Morgan Payments' Xpedite solution, which uses automated exchange rate feeds and a global payments network to streamline transactions, reduce intermediary currency conversions and improve settlement efficiency.
The service is currently available through IndusInd Bank branches and will soon be extended to internet and mobile banking platforms, allowing customers to initiate outward remittances round the clock.
The partnership aims to strengthen the bank's cross-border payment capabilities and offer customers a faster and more seamless international remittance experience.