Earthport partners with Kotak Mahindra Bank to provide cross-border payment capabilities across select global markets.
Earthport (AIM: EPO.L), the leading network for cross-border payments, is pleased to announce that it has partnered with Kotak Mahindra Bank, a leading private sector bank in India, to provide cross-border payment capabilities across select global markets.
Kotak Mahindra Bank is India's fourth largest private sector bank with a pan-India footprint (as of 30 June 2017) of 1,362 branches spread across 689 locations and 2,173 ATMs. The partnership with Earthport gives Kotak Mahindra Bank cross-border payment capabilities across all transaction types between India and the US, UK, Europe, Canada and Singapore.
Earthport was selected by Kotak Mahindra Bank due to the superiority of its solutions over traditional cross-border payment methods. Earthport provides its clients access to fast, transparent, secure and cost-effective payments globally, through a single contract, a single technical integration and a single service relationship.
KVS Manian, President – Corporate, Institutional & Investment Banking, Kotak Mahindra Bank, said: "Kotak Mahindra Bank is on the cusp of its next growth phase and our partnership with Earthport couldn't have been signed at a more appropriate time. We are witnessing increasing demand from our customers, which is why we are continuing to expand our cross-border payment capabilities in select global markets. We are confident that Earthport's services will complement our offerings and further strengthen our capabilities in serving our clients."
Hank Uberoi, CEO of Earthport, said: "We are delighted with this agreement with Kotak Mahindra Bank and look forward to working together. This relationship increases our presence in Asia while further cementing Earthport's position as the number one provider for cross-border payments."