Bank of Baroda has partnered with UAE Exchange, a remittance and foreign exchange company, to launch an instant cash transfer facility for non-resident Indian (NRI) customers.
Dubbed as FLASHremit, the new service will allow customers to send money to their desired bank accounts in Bank of Baroda, India, within minutes.
UAE Exchange managing director & CEO B. R. Shetty said: "Toward this we have joined hands with Bank of Baroda to offer FLASHremit, our instant bank account credit service. I am sure that this special tie up will further strengthen this relationship.
"This service enables our customers to get the money transferred to the desired bank account within minutes. They also get a SMS notification the moment the amount is credited in the bank account."
Bank of Baroda managing director & CEO Ranjan Dhawan said: "I am sure the new arrangement will further strengthen the relationship with both the entities, which share a similar passion for customer service and derive the enthusiasm from same values."
UAE Exchange serves more than 7.9 million customers worldwide and currently has over 750 branches across 32 countries.
Founded in 1908, Bank of Baroda has a network of more than 5,000 branches across Europe, US, Africa, Asia and Australia and in financial centres like New York, London, Dubai, Hong Kong, and Singapore.