Thunes and Aljazira Bank Partner to Revolutionize Cross-Border Remittances in Saudi Arabia

Thunes has entered a strategic partnership with Saudi Arabia’s Aljazira Bank to modernize its international remittance infrastructure. This collaboration allows the bank to leverage a direct global network for real-time cross-border payments, addressing a critical market where over half the population sends money abroad, while aligning with the Kingdom’s Vision 2030 digital finance goals.

What was announced

Aljazira Bank, a prominent financial institution in Saudi Arabia, has signed an agreement with Thunes to significantly expand its international payment catalogue. By integrating with Thunes’ Direct Global Network, the bank aims to enhance the speed and reliability of consumer remittances. This move provides the bank’s retail customers with real-time access to billions of bank accounts and mobile wallets across the globe.

The partnership focuses on optimizing cross-border rails in high-volume corridors, specifically targeting the Asia Pacific, Europe, and the Gulf Cooperation Council (GCC) regions. The integration allows Aljazira Bank to offer new endpoints and destinations, catering to the evolving needs of a market where digital payment innovation is rapidly accelerating. According to research conducted by Thunes and Juniper Research, Saudi Arabia maintains one of the highest volumes of cross-border payment activity in the world, with 56% of residents having sent money internationally within the past year.

This agreement is designed to support the bank’s digital strategy by providing a secure and scalable way to power core cross-border capabilities. It specifically addresses the soaring popularity of mobile wallets and the demand for faster account transfers. By connecting to a "Smart Superhighway" for money movement, Aljazira Bank positions itself to better serve the Kingdom’s essential migrant workforce and the broader economy as Saudi Arabia establishes itself as a global hub for digital finance.

"At Aljazira Bank, our focus is on providing our customers with world-class financial services that are fast, secure, and convenient. Leveraging Thunes' trusted Direct Global Network will enable us to upgrade our cross-border payment capabilities significantly. With the growth of new payment innovation and soaring international popularity of mobile wallets, we are prioritizing our customers' unprecedented access and faster account transfers across key international corridors."

Fahad Almutairi, Head of Retail Digital Banking and Payments at Aljazira Bank.

The companies involved

Thunes operates as a global B2B payment infrastructure platform, often described as the "Smart Superhighway" for moving money. The company specializes in connecting diverse payment systems, including bank accounts, mobile wallets, and cash pick-up providers, into a single Direct Global Network. This network is utilized by highly regulated local institutions to meet the surge in demand for instant, secure, and transparent cross-border transactions. Ahmad Yaacoub serves as the MENA VP and Country Head for the Kingdom of Saudi Arabia at Thunes, where the firm is actively expanding its presence to support the nation's financial transformation. FF News has tracked the company’s growth extensively, with 98 previous reports on its various global integrations.

Aljazira Bank, also known as Bank AlJazira, is a cornerstone of the Saudi Arabian banking sector and one of the Kingdom's leading financial institutions. It provides a wide range of world-class financial services, with a significant focus on retail digital banking and payments. The bank is currently navigating the shifts mandated by Saudi Arabia’s Vision 2030, which seeks to modernize the financial sector. FF News has previously covered the bank’s activities in five separate reports, highlighting its role in the regional market.

What FF News has reported before

Thunes has been a frequent subject of coverage as it scales its global footprint. In September 2026, FF News reported on how J.P. Morgan Payments Scales Global Reach with Thunes Integration for Real-Time Remittances, demonstrating the fintech's ability to serve tier-one global banks. That same month, the company made headlines when Thunes Expands Direct Global Network Across Six Key Middle Eastern Markets, signaling its intent to dominate the MENA region. Earlier coverage includes a November 2025 report on how Thunes and MoMo PSB Bring Real-Time Cross-Border Payments to Millions of Nigerians, as well as a partnership where Thunes to Power Real-Time Mobile Wallet Payouts for Mashreq Customers, further cementing its role in the mobile wallet ecosystem.

What this means

The Saudi Arabian remittance market is undergoing a fundamental shift, moving away from legacy correspondent banking toward direct, real-time networks. This announcement puts significant pressure on traditional regional players who have historically relied on slower, multi-hop settlement processes. By prioritizing mobile wallet endpoints, Aljazira Bank is acknowledging that the future of remittances in the GCC is mobile-first, driven by a migrant workforce that demands instant liquidity. This move raises questions for the broader sector about the longevity of traditional SWIFT-based retail remittances in high-volume corridors. As Vision 2030 accelerates, the ability for established banks to integrate with fintech infrastructure is no longer a luxury, but a requirement for market survival.