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IndusInd Bank ties up with JP Morgan Payments to offer remittances in 123 currencies

Reported by: BusinessLine, Business Standard ·

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IndusInd Bank

Summary

IndusInd Bank has tied up with JP Morgan Payments to offer cross-border remittances in 123 currencies, BusinessLine reported. Business Standard said the partnership uses J.P. Morgan Payments' Xpedite solution, which gives automated currency rate feeds and taps J.P. Morgan's global network. The bank will use it for direct local-currency settlements, reducing the need for intermediary currency conversions, Business Standard reported. Remittance means money sent across borders, often by people working abroad to family in India. A currency conversion is when one currency is exchanged for another; cutting out an intermediary step means fewer such exchanges in a transfer. The reports did not give the value of the deal or a date for the launch.

AI summary of what Business Standard and BusinessLine reported. AI can make mistakes. Read the full story on Business Standard

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Average tone +0.5 across 2 outlets. Their headlines lean positive.

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BusinessLine  · · Tone 0

IndusInd Bank ties up with JP Morgan Payments to offer remittances in 123 currencies

The bank will use JP Morgan Payments’ Xpedite solution, which provides automated currency rate feeds and taps J.P. Morgan’s global network to streamline cross-border transfers.

Business Standard  · · Tone +1

IndusInd Bank taps JP Morgan Xpedite for global remittance expansion

The partnership will use J.P. Morgan Payments' Xpedite solution to enable direct local-currency settlements and reduce the need for intermediary currency conversions

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When each outlet reported it

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  1. Business Standard ·

    First report

  2. BusinessLine ·

    1 h 59 min after the first report

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