Thunes and BSF Unite to Transform Cross-Border Remittances from Saudi Arabia

Business

Thunes and BSF Unite to Transform Cross-Border Remittances from Saudi Arabia

2025-10-01 20:20 Last Updated At：20:35

Collaboration signals new era of real-time, affordable global money movement for consumers in the Kingdom

SINGAPORE and RIYADH, Saudi Arabia, Oct. 1, 2025 /PRNewswire/ -- Thunes, the Smart Superhighway to move money around the world, today announced that it has signed an MOU at SIBOS 2025 to form a strategic alliance with Banque Saudi Fransi (BSF), one of Saudi Arabia's leading financial institutions. This collaboration will enable BSF consumers and businesses to send fast, affordable and secure international money transfers with real-time speed and an enhanced customer experience.

The alliance will allow BSF account holders to reach accounts and wallets worldwide. It represents a significant milestone in Saudi Arabia's financial evolution, as banks embrace innovative solutions that move beyond traditional transfer methods.

Majed Alsadhan, Chief Wholesale Banking Officer, Banque Saudi Fransi, said: "BSF is committed to providing our customers with world-class financial services that combine innovation and trust. By leveraging Thunes' trusted Direct Global Network, we are now able to offer faster, more reliable, and more accessible remittance services. This alliance underscores our mission to serve both individuals and businesses, while supporting the Kingdom's transformation into a leading digital economy."

Simon Nelson, Chief Commercial Officer at Thunes, commented: "Banque Saudi Fransi is a key player in Saudi Arabia's banking sector. Together, we are reshaping how money moves out of the Kingdom, making transfers simpler, instant and more cost effective. This collaboration reinforces our deep commitment to Saudi Arabia, where we continue to build strong relationships with banks, fintechs and wallets, and the trust we have earned to support the country's remarkable digital journey."

The alliance highlights both organisations' commitment to innovation, inclusion and excellence, while strengthening Saudi Arabia's position as a global hub for digital finance under Vision 2030.

About Thunes:

Thunes is the Smart Superhighway to move money around the world. Thunes' proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes' Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, as well as 15 billion cards via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Thunes' Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes' Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Headquartered in Singapore, Thunes has offices in 14 locations, including Atlanta, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco and Shanghai. For more information, visit: https://www.thunes.com/

About BSF

Banque Saudi Fransi (BSF), a Joint Stock Company established by Royal Decree No. M/23 dated June 1977, is one of the leading banks in Saudi Arabia. It has its head office in Riyadh and regional offices in Jeddah, Al-Riyadh and Al-Khobar. Through its 85 branches/self-service centers, 520 ATMs and over 28,000 points of sale, BSF is committed to providing innovative and excellent services to its clients. BSF offers a wide range of financial services in Corporate Banking and Retail Banking. The Bank also provides investment banking, asset management and investment funds services, in addition to brokerage services through BSF Capital. BSF's main focus is to provide a new standard in customer experience that stands out for its simplicity and transparency further empowering its customers while offering them personalized advice. BSF's business model is customer-oriented, with the goal of being a leader in customer satisfaction on a national and regional level.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Advancing Sustainable Education at Saint Columba Anglican School with Sungrow

PORT MACQUARIE, Australia, Jan. 15, 2026 /PRNewswire/ -- Sungrow, the leading global PV inverter and energy storage system provider, has supported the delivery of a 300kW commercial solar upgrade at Saint Columba Anglican School (SCAS) in Port Macquarie. Delivered in partnership with local installer MNC Solar Power, the project replaced an ageing 100kW system with a high-capacity solar solution designed to reduce electricity costs, improve energy efficiency, and strengthen the school's long-term sustainability commitments.

Four-Year Payback: Sungrow Delivers Long-Term Solution for SCAS

Schools like SCAS face increasing energy demands and rising electricity costs. As a large educational campus with multiple buildings and high daytime energy demand, SCAS required a scalable and efficient solar solution capable of maximising on-site energy consumption. The upgrade enables the school to significantly offset grid electricity use and achieve long-term operational savings, with an estimated payback period of approximately four years.

"We'll be able to offset the upfront capital costs within around four years. That means ongoing savings for the school, which helps take pressure off our operating expenses and allows us to continue delivering a great education for our students without rising electricity costs," said Steve Mitchell, Business Manager, Saint Columba Anglican School.

Sungrow Technology Leads with Intelligent, Distance–Free Solar Networking

The newly installed system integrates three Sungrow 110 kW commercial inverters with 708 high–efficiency Canadian Solar 440 W panels.

"While using Modbus as the protocol, the system employs a logger-based wireless casading technology, the inverters will be connected via the school's existing wireless network, enabling intelligent load sharing across multiple buildings without the distance limitations or complexity of traditional cabling." said Young, Technical Service Manager, Sungrow.

This advanced system architecture enables more than 300 kW of solar generation to be dynamically balanced across distribution boards, ensuring optimal energy utilisation, enhanced system flexibility, and significantly reduced reliance on grid power.

Real-Time Monitoring and Educational Opportunities for Students

Aside from system flexibility, the upgrade also provides SCAS with real–time energy monitoring through the iSolarCloud platform. Steve Mitchell highlights the immediate benefit: "We've now got data at our fingertips. We can log into the dashboard and see how much electricity the panels are generating, what we're consuming, and what's being exported to the grid." The platform serves as a valuable educational tool, giving students and teachers real–world insights into energy generation and consumption.

A Seamless and Safe Installation Experience

The successful delivery of the project reflects the strong collaboration between Sungrow and MNC Solar Power, a trusted Mid North Coast installer with more than 30 years of industry experience. Sungrow's direct technical support ensured a smooth and safe installation process during the school holiday period, with no disruptions to school operations.

This project demonstrates how Sungrow's leading commercial inverter solutions, combined with strong local partnerships, can deliver reliable and scalable solar systems for complex environments such as educational campuses. By enabling smarter energy management and real-time performance insights, Sungrow continues to support educational institutions and business in accelerating their transition to clean, efficient, and cost-effective energy.

About MNC Solar Power

MNC Solar Power is a Port Macquarie based solar battery specialist with over 30 years of combined industry experience. Serving Port Macquarie, Taree, and Kempsey, MNC Solar Power understands Mid–North Coast conditions and designs residential and commercial systems for maximum performance and long–term savings. With a strong focus on customer service, MNC Solar Power provides clear guidance from consultation to ongoing support. They install only premium products, including CanadianSolar panels and Sungrow inverters, ensuring durable, high–output systems built to last 20+ years.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of June 2025, Sungrow has installed 870 GW of power electronic converters worldwide. The Company is recognized as the world's most bankable PV inverter and energy storage company (BloombergNEF). Its innovations power clean energy projects across the globe, supported by a network of 520 service outlets guaranteeing excellent customer experience. At Sungrow, we're committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit: www.sungrowpower.com/en.