Tempo Money Transfer and Uttara Bank to increase cooperation after Paris meeting

High profile delegations of the international money transfer operator, Tempo Money Transfer, and one of the leading Bangladesh banks, Uttara, held a meeting at Tempo's headquarters in Paris.

The president of Banque du France-licensed Tempo, Mr Jeffrey Phaneuf, and its commercial representative, Mr Sayed Khan, represented the company at the meeting.

The other party was represented by Mr Maksudul Hasan, deputy managing director, and Mr Khandaker Ali Samnoon, general manager of Uttara Bank.

During the meeting, both parties expressed keen interest to collaborate further in advancing the EU-to-Bangladesh corridors, particularly from France and Germany to Bangladesh.

"We discussed in detail operational items, like enhancing our IT interface to improve and speed up transactions and our ability to quickly confirm payment status, as well as obtaining better exchange rates for our clients," said Mr Phaneuf in his comments about the meeting.

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

"We agreed to further improve service and ultimately achieve higher wire volumes and revenues."

Mr Maksudul Hasan said that the plans to drastically step up the joint venture have a great chance for success.

“Demand is on the rise in Bangladesh and the number of clients is growing too. In combination with Uttara's strong position in the market, this creates a solid foundation for all business indicators to grow," he said.

Both parties found the meeting instrumental in further developing their business.

Tempo and Uttara started a joint project in June 2015.

The collaboration enables clients to receive money sent from Tempo's locations in France and Germany, and collect cash in Uttara Bank’s branches in Bangladesh. Uttara Bank Limited operates through more than 200 online branches, spread across urban and rural areas, with more potential business locations within Bangladesh.

Tempo has over 160 locations in France and Germany, focusing on outbound transactions. It continues to actively develop its partnership network in Asia.

The total number of locations where services are available increased to 195,000 while the number of countries has almost reached 120.