Thailand

KBank's cross-border payments capability goes global with new partnership

Kasikornbank (Kbank) has taken the lead among Thai banks in the rapidly growing cross-border payments sector. The bank has signed a partnership agreement with Singapore-based digital payments startup, InstaReM.

The firm will provide cross-border payments services to clients across all divisions of KBank, including private banking and wealth management. The ambitious parntership covers markets across Asia Pacific, Europe and the Americas.

Silawat Santivisat, KBank’s senior executive vice president said, “We are continuing to expand our cross-border payment capabilities into key markets around the world, as we are witnessing increasing demand from our customers."

A statement issued by InstaReM says that as a cross-border payments leader, the firm already has partnerships with three other Southeast Asian banks. The money transfer company boasts a network that spans 55 countries.