Thunes and BSF Unite to Transform Cross-Border Remittances from Saudi Arabia
Collaboration signals new era of real-time, affordable global money movement for consumers in the Kingdom
SINGAPORE and RIYADH, Saudi Arabia, Oct. 1, 2025 /PRNewswire/ -- Thunes, the Smart Superhighway to move money around the world, today announced that it has signed an MOU at SIBOS 2025 to form a strategic alliance with Banque Saudi Fransi (BSF), one of Saudi Arabia's leading financial institutions. This collaboration will enable BSF consumers and businesses to send fast, affordable and secure international money transfers with real-time speed and an enhanced customer experience.
The alliance will allow BSF account holders to reach accounts and wallets worldwide. It represents a significant milestone in Saudi Arabia's financial evolution, as banks embrace innovative solutions that move beyond traditional transfer methods.
Majed Alsadhan, Chief Wholesale Banking Officer, Banque Saudi Fransi, said: "BSF is committed to providing our customers with world-class financial services that combine innovation and trust. By leveraging Thunes' trusted Direct Global Network, we are now able to offer faster, more reliable, and more accessible remittance services. This alliance underscores our mission to serve both individuals and businesses, while supporting the Kingdom's transformation into a leading digital economy."
Simon Nelson, Chief Commercial Officer at Thunes, commented: "Banque Saudi Fransi is a key player in Saudi Arabia's banking sector. Together, we are reshaping how money moves out of the Kingdom, making transfers simpler, instant and more cost effective. This collaboration reinforces our deep commitment to Saudi Arabia, where we continue to build strong relationships with banks, fintechs and wallets, and the trust we have earned to support the country's remarkable digital journey."
The alliance highlights both organisations' commitment to innovation, inclusion and excellence, while strengthening Saudi Arabia's position as a global hub for digital finance under Vision 2030.
About Thunes:
Thunes is the Smart Superhighway to move money around the world. Thunes' proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes' Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, as well as 15 billion cards via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Thunes' Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes' Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Headquartered in Singapore, Thunes has offices in 14 locations, including Atlanta, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco and Shanghai. For more information, visit: https://www.thunes.com/
About BSF
Banque Saudi Fransi (BSF), a Joint Stock Company established by Royal Decree No. M/23 dated June 1977, is one of the leading banks in Saudi Arabia. It has its head office in Riyadh and regional offices in Jeddah, Al-Riyadh and Al-Khobar. Through its 85 branches/self-service centers, 520 ATMs and over 28,000 points of sale, BSF is committed to providing innovative and excellent services to its clients. BSF offers a wide range of financial services in Corporate Banking and Retail Banking. The Bank also provides investment banking, asset management and investment funds services, in addition to brokerage services through BSF Capital. BSF's main focus is to provide a new standard in customer experience that stands out for its simplicity and transparency further empowering its customers while offering them personalized advice. BSF's business model is customer-oriented, with the goal of being a leader in customer satisfaction on a national and regional level.
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