IndusInd Bank unveils a significant partnership with Viamericas in support of the newly reimagined IRF platform

livemint.com:

IndusInd Bank announced changes in lifestyle, veiled an exciting strategic partnership with Viamericas Corporation, aimed at providing cutting-edge digital inward remittance services to non-resident Indians (NRIs) residing in the United States. Leveraging the power of IndusInd Bank’s ‘Indus Fast Remit’ platform, this collaboration opens the door for NRIs to access highly competitive exchange rates when sending digital inward remittances to India.

The Indus Fast Remit platform offers NRIs the flexibility to initiate remittance transactions using the auto-debit payment method (Automated Clearing House - ACH) or by transferring funds directly from their overseas bank accounts. Viamericas Corporation, leveraging its established IndusInd Bank Vostro relationship, will utilise the RBI’s RDA scheme to credit the beneficiary’s account in India.

IndusInd Bank’s digital remittance platform ensures customers enjoy full transparency throughout the process. This includes real-time updates on the status of payment requests, information on the exact INR amount to be received by the beneficiary, and an estimate of the expected delivery time for the funds.

Existing IndusInd Bank customers will also appreciate the convenience of initiating payment requests through a single sign-on facility on the bank’s Internet banking platform, eliminating the need to visit physical bank branches or navigate through extensive paperwork. Speaking about the collaboration, Soumitra Sen, Head - Consumer Banking and Marketing, IndusInd Bank, said, “IndusInd Bank’s engagement with Viamericas is designed to achieve strategic outcomes that support our vision of being the preferred Bank for the Indian diaspora by providing relevant financial and banking