Tempo Money Transfer President and Head of Remittances for Sampath Bank met in Paris

Tempo Money Transfer President and Head of Remittances for Sampath Bank met in Paris 

President for France-based money transfer service provider, Tempo Money Transfer,  Mr. Jeffrey Phaneuf and Head of remittances for Sampath Bank, Mr. Kusal De Silva held a meeting in Paris.

The two companies started collaboration in July of this year.

The joint project enables clients to send money from over 70 Tempo agent locations in Germany and France and receive the funds from any of the 223 branches of Sampath Bank in Sri Lanka instantly.  Sampath Bank has 12 super branches located in main cities which are opened for 365 days from 8.00am to 8.00 pm.

The project gives clients access to a multi-product spectrum of services, including the Instant Cash Pay-out and crediting of Sampath bank Accounts as well as account crediting of  account of  any other banks in Sri Lanka through SLIPS (Sri Lanka Interbank Payment System).

The alliance gives clients access to very competitive foreign currency exchange rates. During the meeting both parties expressed their satisfaction with the results of the initial success of the project.

“Within a short period we have managed to establish an efficient, secured and reliable network backed by excellent service standards. The new partnership has created a platform to send money most secured, speedy and convenient way to their loved ones through a legal channel which will eventually support the Sri Lankan economy and the society at large.” said Mr. Phaneuf.

Mr. Kusal De Silva said: « The new partnership between Sampath Bank and Tempo will give Sri Lankan Migrant Community in France and Germany an opportunity to send money instantly to Sri Lanka and beneficiaries could receive Cash through the 223 branches of Sampath Bank within 5 minutes. In addition to that beneficiaries could also receive inward remittances directly to their mobile and withdraw from Sampath Bank ATMs without a card around the clock provided they have a prior registration with Sampath Bank to avail this service. Further he said they look forward to provide a excellent service to Migrant community through this new partnership.»

During the course of the meeting, the both parties have jointly agreed to drive the business using the technology for the customer convenience. 

Mr. Phaneuf said that  Tempo Money Transfer has been very active in the Asian region. Tempo customers has an option of obtaining cash  over 400 ATM locations in 25 regional districts and 9 provinces in Sri Lanka. It also has 7,000 locations in India, nearly 2,000 in Pakistan, and close to 6,000 locations in the Philippines. The number of locations in Nepal exceeds 1,800.

A recently completed, project in China increased the number of locations by 17,000.

“Tempo’s team is dedicated to providing excellent customer service, through extensive location coverage, a broad spectrum of options and excellent quality service. Our priorities are European quality and reliability with an accent on low transaction costs for wires. This makes for an effective decrease in the black market and brings transactions into the open, regulated sphere. This benefits the host country's economies and our customers, giving new space for services at affordable rates,” Phaneuf said. 

Tempo Money Transfer’s president and Uttara Bank CEO held meeting in Paris. Plans made for further project development

CEO and managing director for one of Bangladesh's leading financial institutions, Uttara Bank Ltd., Mr. Shaikh Abdul Aziz, visited the headquarters for international money transfer system, Tempo Money Transfer, in Paris. He and president of the France-based company, Mr. Jeffrey Phaneuf held a prolific meeting.

The two financial institutions started a joint project in June of this year. The collaboration enables clients to receive money sent from TMT’s locations in France and Germany, in Uttara Bank’s branches in Bangladesh. Uttara Bank Limited operates through more than 200 online branches, spread across urban and rural areas, with potential business points within Bangladesh.

The project has become a significant milestone in the local money transfer market, given there has been a great increase in demand for quality remittances services, not only locally, but also internationally.

During the meeting, both parties expressed satisfaction with their growing co-operation and noted the project has reached the planned operational indicators.

Tempo Money Transfer services are now available in 223 Uttara Bank branches, throughout the country. Clients can use a cash-to-cash option and/or account-crediting also. The set of services includes SMS-notifications and notifications over the phone to the beneficiary. 

Both parties agreed the project has proved its importance and potential. 

“During the meeting, we agreed that when all operational capacities are established, it is time to move on, increasing client portfolio and transactions. We have worked out a plan to reach our goals,” said Mr. Phaneuf.

Mr. Shaikh Abdul Aziz said that the plans to drastically step up the volume of transactions has a great chance of success.

“The demand for remittances services of high standards is growing [in Bangladesh] and client portfolio is increasing. These two important factors together with Uttara's strong position in the country, create solid ground for the financial indicators to soar,” said the CEO for the Bangladeshi financial institution.

Tempo has over 70 locations in France and Germany, focusing on outbound transactions. 

It continues to actively develop it's partnership network in Asia. 

The company recently reported its successful completion of projects and has launched transfers to Pakistan, Sri Lanka, Nepal and India, as well as the Philippines and China.