Thunes and Commercial Bank Kyrgyzstan | MBANK Forge Strategic Alliance to Transform Cross-Border Payments in the Silk-Road Region

Payments
09.09.2024 11:25 am

Thunes, the Smart Superhighway for money movement around the world, is proud to welcome OJCS “Commercial Bank Kyrgyzstan” | MBANK as a Member of the Thunes Direct Global Network. This collaboration allows MBANK to connect businesses and individuals in Kyrgyzstan directly to over 7 billion mobile wallets and bank accounts around the world, to make payments in real-time in over 130 countries and 80 currencies in a faster, more convenient, and reliable way.

Through this alliance, Thunes and MBANK will facilitate seamless money movement to and from the country. The collaboration empowers local licensed institutions and merchants to conduct a wide range of transactions, including B2B, P2P, B2C, and C2B payments. These services will support diverse cross-border use cases, including foreign education payments, e-commerce transactions, and local acceptance of gig economy payments.

MBANK will act as Thunes’ sending partner, enabling local businesses and consumers to access the proprietary Thunes Direct Global Network, including its Smart Treasury Management Platform and Fortress Compliance Infrastructure – ensuring unrivaled speed, control, visibility, protection and cost efficiencies when making real-time cross-border payments.

“This collaboration marks an important milestone for the bank. The alliance with Thunes will create new opportunities for all MBANK customers and improve the quality and speed of international transfers, making them accessible to everyone. It will help to provide new technologies that will simplify the lives of our customers and strengthen MBANK’s position as one of the leaders in Kyrgyzstan.”
Ulan Dzhanbolotov, Acting Chairman of the Executive Board at MBANK

“Today’s alliance announcement is so much more than just a business agreement – it embodies a shared vision for the future of financial services in this region, a vision that transcends traditional boundaries and paves the way for unprecedented growth and opportunity. It reflects our collective belief in a future where the limitations of geography are rendered obsolete by the power of technology, where distance is no longer a barrier to commerce, and where people and businesses can connect and transact as easily as if they were next door.”
Floris de Kort, CEO of Thunes

Thunes’ entry into Kyrgyzstan complements its broader strategy to establish the Thunes Direct Global Network that reaches every corner of the world. Building on the success of this initiative, Thunes and CBK will extend the reach of their payment solutions across other countries in the region, including Armenia, Azerbaijan, Belarus, Kazakhstan, Moldova, Uzbekistan, Tajikistan, Turkmenistan and China. The expansion aligns with the broader vision of supporting the dynamic growth of this region, integral to China’s Belt and Road initiative.