Fable Fintech inks strategic partnership with XeOPAR
CEOInsights Team, 0
“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 groundup, furthering their inspired vision of making low value remittances affordable”, says Naushad Contractor, CEO of Fable FinTech.
Fable prides itself on making white labeled, highly configurable platforms that other fintechs and banking partners can use out of the box. In XeOPAR’s case, the platform allows them to choose exchange rates, transfer fees, tax limits, volume and velocity limits, as well as transaction purposes for the Full Fledged Money Changer to service.
XeOPAR is set to make the most of Fable Growth Suite (Retail) as it sets up its first P2P remittances corridor from the UK to India, among others in South East Asia, West Africa, and East Africa in addition to Europe, Singapore, US, and the Middle East. Fable’s well established network of integrations, intermediaries, and license & collection partners will allow XeOPAR to take the settlement time-sensitive remittances industry on a competent note.
“XeOPAR is out to shift remittances from being exclusive to high income earners abroad or high networth 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”, says Arvind
Fable FinTech is proud to enter a strategic partnership with XeOPAR to power its resolve of serving remittance providers and their customers. The shared vision between the two companies creates a partnership that aims to strengthen the industry as a whole.Fable FinTech is a global banking infrastructure and financial technology company offering SaaS platforms for crossborder, corporate, trade, and FX transactions. XeOPAR’s association with Fable FinTech brings a new focus on affordable, customer friendly small value transactions, starting with corridors in the UK.
Fable’s well established network of integrations, intermediaries, and license & collection partners will allow xeopar to take the settlement time-sensitive remittances industry on a competent note
Since its inception in 2017, Fable has already executed projects for 40+ banks and money transfer operators across 12 countries and successfully processed transactions worth $11 billion in the process. But it goes beyond. Besides providing technology powered domain expertise in payments, Fable FinTech also believes in championing causes that add practical, sustainable benefits to customers. With robust, mature, well established platforms and pre-integrated networks, Fable is uniquely positioned to support others in the payments space and transform their visions into reality. XeOPAR is a case in point.
Recently, Fable also announced its foray into five key regions including the US, UK, Africa, Middle East and Asia Pacific through dedicated offices and leadership teams. By 2024, the company expects its global process flows to around $40 billion in wake of the cross-border banking infrastructure business opportunity. Fable has also strengthened its team presence across the new markets by inducting marquee talent with decades of country experience, and successful careers at global financial institutions.