Latest news with #Wire365
Bahrain This Week
a day ago
- Business
- Bahrain This Week
NBB Group First in MEA to Adopt J.P. Morgan's Wire 365
The National Bank of Bahrain Group (NBB Group), comprising the National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has today announced it is the first in the Middle East and Africa region to use J.P. Morgan Payments' Wire 365 solution, which offers USD clearing services 365 days a year and enables continuous access to real-time cross-border payments. Wire 365 provides financial institutions, corporates, and their high-net-worth individual clients requiring high-frequency USD disbursements to process same day value settlements for beneficiaries within the J.P. Morgan Payments network. The solution also eliminates traditional cut-off time constraints, enhances liquidity management and operates 365 days a year. This can empower end customers to optimise their cash flows and manage their payment obligations with greater flexibility. Commenting on the move, Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB, said, 'Leveraging Wire 365 highlights our forward-thinking approach, which aims to augment advanced technology in banking operations to deliver tangible value to institutions and organisations. By providing year-round access to USD clearing, we are streamlining cross-border operations with efficient and reliable solutions that meet the requirements of a fast-evolving and interconnected market. The initiative further strengthens our position as a reliable corporate banking partner.' Aqeel Ghaith, Chief Corporate & Institutional Banking Officer at BisB, added, 'The use of Wire 365 reflects our commitment to strengthening our cross-border payment capabilities. By offering extended USD clearing, we are strengthening our value proposition to high-value clientele who require uninterrupted overseas payment services.' Gayathri Vasudev, Global Head of Cross-Currency and Global Clearing Payments at J.P. Morgan Payments, stated, 'We are pleased to see NBB Group is using the Wire 365 solution to address a critical industry need for Always-on processing of USD payments. As global demand for immediate settlements grows, the ability to process transactions without time restrictions is a game-changer for financial institutions and corporates worldwide. The beauty of this solution is that it allows the NBB to leverage all the rich functionality of J.P. Morgan Payments' USD clearing while allowing weekend processing.' J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes more than $10 trillion payments daily, operating in over 200 countries and territories in over 120 currencies. NBB Group remains committed to delivering innovative experiences that enhance financial accessibility and efficiency for its diverse customer base. The introduction of Wire 365 is a significant milestone in modernising correspondent banking services, setting a new standard for frictionless USD funds processing in the Kingdom's financial sector.
Daily Tribune
4 days ago
- Business
- Daily Tribune
NBB brings 24/7 USD access to Bahrain
TDT| Manama People and businesses in Bahrain can now send and receive US dollar payments on any day of the year, including public holidays, under a new initiative launched by the National Bank of Bahrain Group. In a move that eliminates the traditional limitations of cut-off times and weekend delays, the Group has become the first in the Middle East and Africa to activate the Wire 365 solution from J.P. Morgan Payments. The service ensures continuous availability of cross-border USD clearing and enhances liquidity management across all 365 days. Regional first The Wire 365 system caters to financial institutions, corporations, and high-net-worth clients requiring same-day USD disbursements. Transactions are cleared within J.P. Morgan's global payments network, giving clients more control over cash flow and easing the burden of time-sensitive transfers. 'This milestone reflects our strategic focus on incorporating advanced banking technology to offer real value to our institutional clients,' said Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB. 'By unlocking 365-day USD access, we are facilitating real-time cross-border transactions and supporting businesses in a highly connected global environment.' Enhanced flexibility Bahrain Islamic Bank's Chief Corporate & Institutional Banking Officer, Aqeel Ghaith, said the move was particularly beneficial for high-value clients who require round-the-clock access to overseas transfers. J.P. Morgan Payments' Global Head of Cross-Currency and Global Clearing Payments, Gayathri Vasudev, described the rollout as a response to growing global demand for instant, unrestricted financial processing. 'Always-on payment capability is a game-changer,' she said, noting the advantage of weekend processing without disruption. With Wire 365, NBB Group aims to redefine correspondent banking standards in Bahrain by offering seamless, uninterrupted fund flows. The move underscores the Group's strategy of using innovation to strengthen the country's financial infrastructure.
Al Bawaba
5 days ago
- Business
- Al Bawaba
NBB Group First in Middle East & Africa Region to Activate Wire 365 from J.P. Morgan Payments
The National Bank of Bahrain Group (NBB Group), comprising the National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has today announced it is the first in the Middle East and Africa region to use J.P. Morgan Payments' Wire 365 solution, which offers USD clearing services 365 days a year and enables continuous access to real-time cross-border 365 provides financial institutions, corporates, and their high-net-worth individual clients requiring high-frequency USD disbursements to process same day value settlements for beneficiaries within the J.P. Morgan Payments network. The solution also eliminates traditional cut-off time constraints, enhances liquidity management and operates 365 days a year. This can empower end customers to optimise their cash flows and manage their payment obligations with greater on the move, Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB, said, 'Leveraging Wire 365 highlights our forward-thinking approach, which aims to augment advanced technology in banking operations to deliver tangible value to institutions and organisations. By providing year-round access to USD clearing, we are streamlining cross-border operations with efficient and reliable solutions that meet the requirements of a fast-evolving and interconnected market. The initiative further strengthens our position as a reliable corporate banking partner.'Aqeel Ghaith, Chief Corporate & Institutional Banking Officer at BisB, added, 'The use of Wire 365 reflects our commitment to strengthening our cross-border payment capabilities. By offering extended USD clearing, we are strengthening our value proposition to high-value clientele who require uninterrupted overseas payment services.'Gayathri Vasudev, Global Head of Cross-Currency and Global Clearing Payments at J.P. Morgan Payments, stated, 'We are pleased to see NBB Group is using the Wire 365 solution to address a critical industry need for Always-on processing of USD payments. As global demand for immediate settlements grows, the ability to process transactions without time restrictions is a game-changer for financial institutions and corporates worldwide. The beauty of this solution is that it allows the NBB to leverage all the rich functionality of J.P. Morgan Payments' USD clearing while allowing weekend processing.'J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes more than $10 trillion payments daily, operating in over 200 countries and territories in over 120 currencies. NBB Group remains committed to delivering innovative experiences that enhance financial accessibility and efficiency for its diverse customer base. The introduction of Wire 365 is a significant milestone in modernising correspondent banking services, setting a new standard for frictionless USD funds processing in the Kingdom's financial sector.
Biz Bahrain
5 days ago
- Business
- Biz Bahrain
NBB Group First in Middle East & Africa Region to Activate Wire 365 from J.P. Morgan Payments
The National Bank of Bahrain Group (NBB Group), comprising the National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has today announced it is the first in the Middle East and Africa region to use J.P. Morgan Payments' Wire 365 solution, which offers USD clearing services 365 days a year and enables continuous access to real-time cross-border payments. Wire 365 provides financial institutions, corporates, and their high-net-worth individual clients requiring high-frequency USD disbursements to process same day value settlements for beneficiaries within the J.P. Morgan Payments network. The solution also eliminates traditional cut-off time constraints, enhances liquidity management and operates 365 days a year. This can empower end customers to optimise their cash flows and manage their payment obligations with greater flexibility. Commenting on the move, Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB, said, 'Leveraging Wire 365 highlights our forward-thinking approach, which aims to augment advanced technology in banking operations to deliver tangible value to institutions and organisations. By providing year-round access to USD clearing, we are streamlining cross-border operations with efficient and reliable solutions that meet the requirements of a fast-evolving and interconnected market. The initiative further strengthens our position as a reliable corporate banking partner.' Aqeel Ghaith, Chief Corporate & Institutional Banking Officer at BisB, added, 'The use of Wire 365 reflects our commitment to strengthening our cross-border payment capabilities. By offering extended USD clearing, we are strengthening our value proposition to high-value clientele who require uninterrupted overseas payment services.' Gayathri Vasudev, Global Head of Cross-Currency and Global Clearing Payments at J.P. Morgan Payments, stated, 'We are pleased to see NBB Group is using the Wire 365 solution to address a critical industry need for Always-on processing of USD payments. As global demand for immediate settlements grows, the ability to process transactions without time restrictions is a game-changer for financial institutions and corporates worldwide. The beauty of this solution is that it allows the NBB to leverage all the rich functionality of J.P. Morgan Payments' USD clearing while allowing weekend processing.' J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes more than $10 trillion payments daily, operating in over 200 countries and territories in over 120 currencies. NBB Group remains committed to delivering innovative experiences that enhance financial accessibility and efficiency for its diverse customer base. The introduction of Wire 365 is a significant milestone in modernising correspondent banking services, setting a new standard for frictionless USD funds processing in the Kingdom's financial sector.
Trade Arabia
5 days ago
- Business
- Trade Arabia
NBB Group first in region to activate Wire 365 from J.P. Morgan Payments
The National Bank of Bahrain Group (NBB Group), comprising the National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has become the first in the Middle East and Africa region to use J.P. Morgan Payments' Wire 365 solution, which offers USD clearing services 365 days a year and enables continuous access to real-time cross-border payments. Wire 365 provides financial institutions, corporates, and their high-net-worth individual clients requiring high-frequency USD disbursements to process same day value settlements for beneficiaries within the J.P. Morgan Payments network. The solution also eliminates traditional cut-off time constraints, enhances liquidity management and operates 365 days a year. This can empower end customers to optimise their cash flows and manage their payment obligations with greater flexibility. Ali Abdulkarim, Group Chief Executive – Corporate and Commercial Banking at NBB, said: 'Leveraging Wire 365 highlights our forward-thinking approach, which aims to augment advanced technology in banking operations to deliver tangible value to institutions and organisations. By providing year-round access to USD clearing, we are streamlining cross-border operations with efficient and reliable solutions that meet the requirements of a fast-evolving and interconnected market. The initiative further strengthens our position as a reliable corporate banking partner.' Aqeel Ghaith, Chief Corporate & Institutional Banking Officer at BisB, added: 'The use of Wire 365 reflects our commitment to strengthening our cross-border payment capabilities. By offering extended USD clearing, we are strengthening our value proposition to high-value clientele who require uninterrupted overseas payment services.' Gayathri Vasudev, Global Head of Cross-Currency and Global Clearing Payments at J.P. Morgan Payments, stated: 'We are pleased to see NBB Group is using the Wire 365 solution to address a critical industry need for Always-on processing of USD payments. As global demand for immediate settlements grows, the ability to process transactions without time restrictions is a game-changer for financial institutions and corporates worldwide. The beauty of this solution is that it allows the NBB to leverage all the rich functionality of J.P. Morgan Payments' USD clearing while allowing weekend processing.' J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes more than $10 trillion payments daily, operating in over 200 countries and territories in over 120 currencies.
