Thunes enables Ethiopia's Dashen Bank to make instant cross-border transfers to bank accounts and Amole mobile wallets

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Partnership with one of Ethiopia's largest private banks sees Thunes further extend its global payout network.

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Jul 22, 2021, 05:00 ET

SINGAPORE and ADDIS ABABA, Ethiopia, July 22, 2021 /PRNewswire/ -- Thunes, a leading global payments network, today announced a partnership with Dashen Bank that makes it quicker and cheaper to send money to Ethiopia from around the world, directly to their bank accounts and Amole wallets.

Previously, customers making international money transfers and remittances to Ethiopia faced a slow, unreliable and expensive transaction process. Now, people can transfer money to Ethiopia instantly at more affordable rates using Thunes' network of sending partners which operates in more than 100 countries.

For added convenience, customers and businesses in Ethiopia will be able to receive funds straight into their bank accounts or in real time into their Amole wallets - the mobile money solution from Dashen Bank.

The cross-border payment solution will boost financial participation in Ethiopia as more people are expected to open bank and Amole wallet accounts to receive easy overseas payments. The enhanced remittance service will also boost the inflow of much-needed foreign currency to the country's economy, where funds sent from abroad are a vital lifeline for many communities.

"We are delighted to partner with Dashen Bank, one of Ethiopia's leading banks. Thunes continues to invest in and grow our network in the world's fastest growing economies. Our global partners can now give their customers enhanced access to this important corridor in Africa with faster and more convenient transfers. We look forward to working with more local players to simplify cross-border transfers for their customers," said Andrew Stewart, Global Head of Networks at Thunes.

Asfaw Alemu, CEO of Dashen Bank, commented, "We are pleased to partner with Thunes, a trusted global leader in the cross-border payments landscape. This technology-powered solution gives Dashen Bank's customers fast and convenient access to overseas funds via bank accounts and Amole mobile wallets. It's another positive step towards our goal of transforming Ethiopia's financial services sector and delivering innovations to serve our customers' needs better."

About Thunes

Thunes is a B2B company that powers payments for the world's fastest-growing businesses. Corporates and financial institutions can move funds seamlessly, securely and cost-effectively with Thunes' well-established, reliable and far-reaching network. Thunes is used by leading global banks, money transfer operators, platforms and many other businesses to make payments to bank accounts, mobile wallets and cash pick-up providers around the world. With a single, simple connection, your business and customers can send payments to – and get paid in – every corner of the world. Instantly.

Thunes is headquartered in Singapore with regional offices in London, France, Shanghai, New York, Dubai, and Nairobi.

For more information, visit www.thunes.com

About Dashen

Dashen Bank was founded by eleven visionary shareholders and veteran bankers with initial capital of Birr 14.9 million in September 1995. Upon securing license from the National Bank of Ethiopia, Dashen opened its doors for service on the 1st of January 1996 with eleven fully-fledged branches.

Dashen Bank coined its name from the highest peak in Ethiopia, Mount Dashen, and aspires to be unparalleled in banking services. Ras Dashen is Part of the Simien Mountains National Park, an exotic setting with unique wildlife and breath-taking views on a landscape shaped by nature and traditional agriculture.

The Simien Mountains is home to endemic wildlife including the Walia Ibex, Simien Fox or Ethiopian Wolf and the Gelada Baboon. Dashen aspires to set new heights in banking services through the delivery of unique value propositions second to none.

Headquartered in Addis Ababa, the Bank is among the biggest private Banks in Ethiopia. It operates through a network of more than 400+ Branches, ten dedicated Forex Bureaus, 350+ ATMs and 850 plus Point-of-Sale (POS) terminals spread across the length and breadth of the nation. It has established correspondent banking relationships with 462 banks covering 70 countries and 170 cities across the world. Wherever business takes customers around the world, Dashen Bank is already there.

Dashen is the most reputable brand in the domestic banking market; a reputation earned through consistent delivery of values and preeminence unmatched by its competitors. Apart from conventional banking, Dashen Bank also offers Sharia Compliant Interest Free Banking dubbed "SHARIK". The Bank also works in partnership with leading brands in the electronic payments industry (AMEX, VISA, MasterCard & UnionPay) and prominent money transfer operators (Western Union, MoneyGram, Express Money & Dahabshiil, Ezremit, Transfast, WorldRemit and Ria).

Dashen Bank and its technology partner Moneta Technologies introduced "Amole" Digital Omni channel payment platform that offers subscribers digital payment capacity and access to aggregated digital product and service from Retailers, Entertainment Industries, Airtime Dealers, Bill Payment Points, Airlines, Social Media Players and Third-Party Service providers.

For more information, visit https://dashenbanksc.com/

SOURCE Thunes