Saudi Arabia’s D360 Bank taps Thunes to power cross-border payments
With the partnership, mobile app users of D360 will be able to transfer funds “instantly and securely” to beneficiaries in Europe, US and across the entire Middle East, with more regions to follow suit. The neobank says customers will receive “upfront” cost transparency, as well as confirmation of arrival.
“D360 has been purposefully designed to cater to the needs of digitally savvy Saudi residents and small and medium-sized enterprises (SMEs) that seek better service and user experience,” says Sadeq Al Thawab, executive director at D360 Bank.
“By leveraging Thunes’ robust and proven payments infrastructure and D360’s innovative digital approach, we aim to address the challenges of slow and complex cross-border transactions, which typically come with high friction and high costs.”
Founded in 2022, D360 is one of the first digital banks coming out of Saudi Arabia. It aims to provide digital financial services to Saudi residents, including individuals and small and medium-sized businesses, as well as the underserved sections of the market.