BankingBusiness

Alfa-Bank & First Abu Dhabi Bank: First banks in Russia and the UAE to join CLSNet

  • Emerging market leaders, Alfa-Bank and First Abu Dhabi Bank the first banks in Russia and the UAE to join CLSNet
  • Alfa-Bank and FAB agreed to initiate onboarding to CLSNet, a standardized, automated bilateral payment netting calculation service for over 120 currencies
  • CLSNet standardizes and increases the levels of payment netting in the FX market
  • Alfa-Bank, a leading Russian bank, and FAB, the UAE’s largest bank join the current CLSNet user community of global and regional banks
  • Further, Alfa-Bank and FAB are the first in their respective domiciles of Russia and the UAE joining CLSNet
  • CLSNet will allow Alfa-Bank to further develop its customer base and expand its business in the international market
Previous article
Desktop Metal: Buys EnvisionTEC, for $300M
Next article
GPS: Appoints Visa veteran Damien Gough as head of Apac
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Former Royal Mint Executives Secure Backing for Precious Metals Trading Platform

New platform aims to modernize precious metals trading for investors.Highlights: Former Royal Mint executives launch a new trading...
FinTech

Coastal Bank Partners with Tempo to Strengthen Cross-Border Money Transfers

The partnership aims to enhance international money movement solutions.Highlights: Coastal Bank has partnered with Tempo for improved cross-border...
FinTech

Lloyds Accelerates Homebuying with Fully Digital Service

New platform aims to reduce waiting times for mortgage approvals.Highlights: Lloyds introduces a fully digital homebuying service.Service aims...
Blogs

AI in Fintech: Revolutionizing the Financial Industry

AI in fintech is changing how financial services operate. It's more than just a buzzword; it's a powerful...