Pakistan-based Bank Alfalah is teaming up with UK-based SendSpend to launch what it terms a state-of-the-art international remittances service.

The cloud-based service allows immediate and effortless money transfers from the UK to Pakistan through mobile phones. The firms say that this will enable individuals and businesses to send and receive money internationally more conveniently than ever.

SendSpend is an international remittance service. It says that it uses ground-breaking cloud-based technology to make money transfers seamless and convenient. The partnership means that Bank Alfalah enables the users of 17 different mobile wallets in Pakistan to receive funds internationally.

In addition, users gain the possibility to use the bank’s over 900 ATMs nationwide to cash out. Customers will also be able to have funds transferred directly into the bank account of their choice in any bank.

Atif Bajwa, President and CEO of Bank Alfalah, said: “We are pleased to partner with SendSpend to offer customised solutions for non-resident Pakistanis in the UK to send hassle-free remittances to their loved ones in Pakistan. This innovative service empowers customers by placing financial control directly in their hands. The partnership marks a significant step towards building an ecosystem of progressive banking. Bank Alfalah is leading the way in providing tailored solutions for its customers’ unique needs.”

UK is one of the top 3 countries for remittances to Pakistan

Tracy Andersson, joint CEO, SendSpend added: “We are extremely pleased to be joining hands with Bank Alfalah on this mission towards greater financial inclusion and empowerment across the country. It’s a shared goal of both organisations to remove financial barriers and enable more people to carve a better future. We look forward to improving countless lives together with Bank Alfalah. And leaving no stone unturned when it comes to creating unlimited convenience.”

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Pakistan has a total population of over 220 million people. Many of its citizens live and work outside the country, often sending money back to their families to support them. The UK is one of the top three countries contributing to Pakistan’s economy through remittances. This means that a significant portion of the money flowing into Pakistan comes from the UK