Earthport PLC First Client in Turkey (8781I)
June 05 2014 - 2:01AM
UK Regulatory
TIDMEPO
RNS Number : 8781I
Earthport PLC
05 June 2014
5 June 2014
Earthport plc
("Earthport" or the "Company")
First Client in Turkey
Earthport's cross-border payments service will support leading
Turkish bank's plans for multi-currency international payments
services
Earthport (AIM: EPO), the cross-border payments service
provider, is pleased to announce that Aktif Bank has chosen it to
provide international payments transaction services, helping its
corporate customers trade internationally and retail customers of
its Universal Payment Transfer (UPT) service to make more cost
effective cross-border payments. Aktif Bank is expected to go live
with Earthport's international payments service in the coming
months.
Aktif Bank, the largest privately owned investment bank in
Turkey, offers retail, investment and regional banking services.
Since 2012 it has been Earthport's banking partner, providing local
bank payments clearing in Turkey. Now, Earthport's expertise has
been selected by Aktif Bank to increase international payments
processing automation, supporting the bank's growth plans through
enhanced products that offer cross-border payments in local
currencies.
Through Earthport's service, fees and foreign exchange (FX)
rates are known upfront and payment timescales are predictable.
These features will help Aktif Bank operate efficiently and support
its customers' needs for cost-effective international trade.
CEO of Aktif Bank, Dr. Önder Halisdemir, said: "Earthport's
ability to provide international payment clearing services locally
to many markets around the globe, together with sophisticated
validation services, predictable settlement dates and transaction
reporting was an attractive proposition. It gives us scope to build
services we believe our customers will find compelling."
Winner of 56 international awards over the past three years
including 'The World's Most Innovative Bank,' Aktif Bank will also
benefit from revenue generated through FX.
Hank Uberoi, Chief Executive Officer of Earthport plc,
commented: "Aktif Bank is a solutions-focused bank and the market
leader in the fast developing Turkish market. As part of our
expanding global client base, we are delighted to partner with them
as our first client in Turkey. We look forward to supporting their
customers' needs for predictable, cost-effective international
trade payments and person-to-person remittances."
Earthport already provides its robust, electronic white-label
service to some of the world's largest banks and money transfer
agents including Bank of America Merrill Lynch, HSBC, Western Union
and leading Japanese remittances provider Kyodai Remittance.
Supporting the continued rise in the international movement of
money resulting from an increasingly globalised workforce and
international trade, across six continents Earthport reaches 60
countries directly through local clearing capabilities and a
further 140 through traditional methods.
For further information, please contact:
Earthport plc
Hank Uberoi 020 7220 9700
Charles Stanley Securities
Mark Taylor / Paul Brotherhood 020 7149 6000
Panmure Gordon
Fred Walsh 020 7886 2500
Newgate Threadneedle
Fiona Conroy / Caroline Forde / Josh Royston
/ Jasper Randall 020 7653 9850
About Aktif Bank
Aktif Bank is the largest privately owned investment bank in
Turkey. It operates in the fields of retail banking, investment
banking and regional banking. The innovative and entrepreneurial
business manner of the bank has been proven with great results and
56 international awards received over the last three years. It was
selected as the most innovative bank in the world in distribution
channels. In investment banking, Aktif Bank has pioneered
innovations including the first bank bond, the first asset-backed
securities, and the first project financing sukuk in Turkey. The
bank names its unique business model as "New Generation Banking".
Aktif Bank was assessed in the highly investable category by
JCR-Eurasia Rating with Long Term National Credit Rating,
increasing two grades from A+ (Trk)"to "AA (Trk).
About Earthport
Earthport plc, a regulated global financial services
organisation, specialises in the provision of a white label
cross-border payments service.
Through its innovative payments framework, specifically designed
for high volumes of low value cross-border payments, Earthport
provides a cost-effective and transparent service for secure
international payments. Earthport's clients include banks, money
transfer organisations, payment aggregators, e-commerce businesses
and foreign exchange businesses. Through Earthport's well
established payments infrastructure, clients can clear and settle
payments directly to banked beneficiaries in 60 countries.
The company is headquartered in London and is listed on the
Alternative Investment Market (AIM) on the London Stock Exchange.
It operates globally with additional regional offices in Dubai and
New York. Earthport plc isauthorisedand regulated by the Financial
Conduct Authority under the Payment Service Regulations 2009 for
the provision of payment services. To learn more, please visit
www.earthport.com and follow us via RSS or on social channels,
Twitter @Earthport, LinkedIn, Youtube and Slideshare.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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