- ACE Money Transfer and Bank Alfalah partner to provide Pakistanis abroad with seamless remittance solutions
MANCHESTER, England, Sept. 4, 2023 /PRNewswire/ -- ACE Money Transfer, a leading financial technology company based in Manchester, UK, strengthens its longstanding partnership with Bank Alfalah, one of Pakistan's leading commercial banks , to allow Pakistanis abroad to send money home without hassle.
ACE Money Transfer and Bank Alfalah have proudly announced their collaboration with Babar Azam, captain of the Pakistan national cricket team, who has joined them as a distinguished brand ambassador. This strategic partnership aims to significantly improve the awareness of overseas Pakistanis on utilizing legal channels for remittance transactions.
As an icon of national pride, your endorsement of ACE Money Transfer and Bank Alfalah's initiative to promote remittances through official channels will captivate the attention of Pakistanis abroad. By choosing to send remittances through legitimate channels, Pakistanis abroad contribute to the economic prosperity of their home country while ensuring that their hard-earned money reaches their families safely and efficiently. .
ACE Money Transfer is a world leader in remittances, allowing expats to send money from 28 countries including Europe, North America and Australia to 106 countries worldwide with 375,000 payout locations. This expanding network has built a diverse customer base of more than 1.4 million people who rely on ACE Money Transfer services to connect with loved ones and meet their financial needs.
ACE Money Transfer anticipates facilitating more than $1.25 billion in remittances globally by 2023. For Pakistan, the projected share of remittances will exceed $800 million, reaffirming the critical role of the platform in supporting the economic growth of the nation through entries from abroad.
One of the most notable aspects of ACE Money Transfer's partnership with Bank Alfalah is its market share in the remittance sector. They account for an impressive 10% share of remittances and clients of all remittances coming to Pakistan from Europe. Specifically, ACE Money Transfer captures over 50% market share in Ireland, Norway and the Netherlands of all remittances destined for Pakistan. As for recipients, Bank Alfalah branches across the country have been equipped to process remittance transactions.
Bank Alfalah and ACE Money Transfer have expanded their offerings beyond remittances. Overseas Pakistanis can now use ACE Money Transfer's mobile app to pay utility bills, improving convenience and accessibility for their customers.
About ACE Money Transfer:
ACE Money Transfer (registered name "Aftab Currency Exchange Limited"), headquartered in Manchester, United Kingdom, is a financial technology that provides remittance services. It offers seamless online money transfer services to millions of expats with an extensive network of over 375,000 locations spread across more than 100 countries around the world.
Acerca de Bank Alfalah:
Bank Alfalah is a leading commercial bank in Pakistan, with more than 900 branches in 200 cities and an international presence in the UAE, Bangladesh, Bahrain and Afghanistan. The bank offers various products and services, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium-sized enterprises, agricultural, Islamic and asset finance to private sector institutions and governments.
In 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app, a revolutionary new app that brings together an unprecedented range of services and features, all in one convenient platform. In 2022, the bank received the award for the best 'Digital Bank' and 'Home Finance' across Pakistan, highlighting its commitment to simplify and improve the financial capabilities of its clients.
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