Fable Fintech joins hand with Muthoot Finserve to create One Muthoot Platform

Mumbai: Fable Fintech, a leading global banking infrastructure company announced its partnership with The Muthoot Group for their new outward global remittance platform, powered by Fable’s technology platform. The platform would power Muthoot Group’s US-India corridor of cross-border payments venture – a newly launched outward remittance platform, as well as a key part of the Group’s vision of One Muthoot Platform. 

The Fable Growth Suite (Retail) Outward is a white-labelled, plug-n-play remittance platform used in 150+ corridors across 12 countries. It allows banks and other remittance providers like MSBs to launch and grow their payments business with complete control over every aspect. Remittance providers can set remittance fees and FX margins and define limits on transaction volumes and velocity, among various other aspects. 

“We are excited to partner with Muthoot Group in enabling them to offer holistic cross-border solutions to their customers using our platform. We believe that the future of financial services lies in collaboration. At Fable, owing to a plug-and-play approach, we have been able to offer customized solutions to our clients seamlessly – thereby reducing the implementation time while ensuring sustained up-gradation, and helping navigate the ever-evolving landscape of global remittances and cross-border transactions,” said Naushad Contractor, CEO of Fable Fintech.

Since its inception in 2015, Fable has already executed projects for 40+ banks and money transfer operators across 12 countries. It has successfully processed transactions worth $11 billion in the process.