Standard Chartered in India has announced the launch of an online remittance service tailored to expats and non-resident Indians (NRIs).
The online or app-based service will enable clients to transfer funds overseas. Resident Indians, expats working in India and NRIs can send funds from India to foreign countries.
Standard Chartered said the inward-remittance option will be available for existing NRI clients through the bank's existing online banking.
Given our focus on our affluent client base, the platform will be a game changer in driving our remittance business."
Kusal Roy, head of Retail Banking, India, Standard Chartered Bank said, "Given our focus on our affluent client base, the platform will be a game changer in driving our remittance business. This will further enhance our digital capability and is a milestone in our endeavour to be best in class for our clients."
Nitin Chengappa, head, Non-Residents, India at Standard Chartered, added, "This platform should offer the convenience that our clients have always been looking for. Given the increasing need of remitting outside India for children's education, medical treatments, gift to relatives, etc., it will offer our clients the opportunity to carry out these transactions in a few basic steps on a desktop or through the mobile app."
Standard Chartered is based in the UK but has a strong presence across Asia and Africa.