Fable Fintech, global banking infrastructure company enabling SaaS-powered platforms for cross-border, corporate, trade, and FX transactions, on Wednesday announced its strategic partnership with XeOPAR, a one-touch cross-border payments and remittances startup for all.
Fable Growth Suite (Retail) platform chosen by XeOPAR serves both inward and outward remittances. In addition, it helps payments providers grow revenue from existing and new customers, and improve profitability.
Naushad Contractor, CEO of Fable Fintech said,"Financial services companies are in a constant race to make remittances cheaper, more transparent, and quicker - as close to instant transfers as possible. For their customers, these efforts spell clarity and peace of mind. Our Growth Suite helps XeOPAR achieve this ground-up, furthering their inspired vision of making low-value remittances affordable".
Arvind Gupta, CEO of XeOPAR, said, "XeOPAR is out to shift remittances from being exclusive to high-income earners abroad or high net-worth individuals. We wish to serve the near 30 percent of the remittance customers who transact in volumes such as $500 per month or below. This is a largely under-serviced segment that amounts to $240 billion in remittances. Our vision is to create a reasonably-priced remittance service for them so they can send funds as often as they, without waiting for a large sum to accumulate".
By 2024, the company expects its global process flows to around $40 billion in wake of the cross-border banking infrastructure business opportunity.
