May 22, 2023, Singapore – Tranglo, a leading cross-border payment hub, has announced a strategic partnership with Lulu Money Pte Ltd, a subsidiary of the Abu Dhabi-based financial services conglomerate Lulu Financial Holdings, to simplify and accelerate cross-border transaction time.
The partnership will leverage the mutual strengths of both companies and benefit businesses and individuals seeking efficient, fast and secure international fund transfers.
Tranglo Group CEO Jacky Lee said: “Lulu Money specialises in connecting end users with beneficiaries worldwide through accessible cross-border payments. We are confident the partnership will further lower the time it takes to send funds, thanks to Tranglo Connect’s real-time infrastructure and smart connection to our payout corridors.”
Tranglo processes 80% of its payments in real-time, compared to the global industry average of 1 to 5 business days.
Lulu Financial Holdings CEO Richard Wason said: “Lulu Financial Holdings is dedicated to continuously enhancing our service delivery and upholding exceptional customer satisfaction standards. We are excited about this partnership, which will enable Tranglo to benefit from our extensive network while simultaneously strengthening our payments infrastructure connecting various corridors. Ultimately, this move will help both companies provide faster and more reliable transactions to our valued customers.”
Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. It seamlessly integrates payout and partner services, unifying the end-to-end payment process with direct API access. With Tranglo Connect, companies can make payments to over 30 countries reliably and securely.
LuLu Financial Holdings runs a proprietary Digit9 platform, an API-first model for remittance-as-a-service. Digit9 enables financial institutions to offer their services to other financial institutions and fintechs, and ultimately reach millions of customers via LuLu Financial Holdings’ extensive network spanning 10 countries.
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, Dubai and London. Our global network spans over 150 countries, 600 mobile operators, 1,300 banks/wallets and 140,000 cash pickup points. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We now offer enhanced cross-border payout services with an even wider coverage through RippleNet, Ripple’s global payment network. To find out more, visit www.tranglo.com, LinkedIn, Facebook or Twitter.
About Lulu Financial Holdings
LuLu Financial Holdings is a global financial services enterprise headquartered in Abu Dhabi. The company services a cross-section of society, powered by a robust network, reputed partners and high standards of customer care. Its network of physical branches and digital payment solutions span several GCC countries such as Oman, UAE, Kuwait, Qatar, and Bahrain, as well as in India, Bangladesh, Singapore, Hong Kong, Malaysia and the Philippines, annually processing over 12 million transactions across various segments.