Karur Vysya Bank (KVB) has implemented Bahwan CyberTek’s Cuecent eRemit - a global remittance solution, across the bank to offer affordable and instantaneous remittance service to its customers. The remittance solution from Bahwan CyberTek has helped Karur Vysya Bank to launch an ‘instant cross-border remittances service’ for Non-Resident Indian (NRIs), which offers the remitter the facility to instantly credit funds into the beneficiary account in any bank in India.
Under this service, the funds would be instantly remitted and the beneficiary would be able to withdraw the money within a matter of minutes. Both the beneficiary and remitter receive free mobile and email alerts instantaneously on receipt of money.
Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.
