In addition to enriching IBOS’ strong geographic coverage in India, Axis Bank will provide specialist local knowledge to help businesses prosper in India. Embracing growth, innovation and sustainability, Axis Bank generates captivating global opportunities for all IBOS member banks, particularly as India has a vital role in the development of modern emerging financial markets.

Vivek Gupta, President and Head – Wholesale Banking Products, Axis Bank, said, “We are delighted to be the newest member bank to join IBOS and becoming the Indian representative within this global network. IBOS has successfully proven its ‘open for business’ model and effectively providing SME & corporate clients with local banking support around the world. The IBOS network is a perfect addition to our international partner strategy and enables clients to realise their international sustainable growth ambitions into the growing Indian Market.”

As a unique international alliance consisting of some of the largest banks in the world, IBOS helps customers operate efficiently, avoiding exchange rate risks and streamline cash management in multiple jurisdictions through its innovative online portal centred on opening accounts for its members banks’ new corporate customers.

The IBOS online platform has changed how the market operates, as it permits businesses to operate across different jurisdictions where they themselves are not present.

Manoj Mistry, Managing Director at IBOS, added: “We are pleased to expand the IBOS network’s pool of knowledge and increase our geographic reach in India. This enables us to provide further benefits and options for our existing members and their corporate clients, allowing businesses to prosper in additional markets.”

Mario Domenico Recchia, Chairman of IBOS Board, also commented: “This is an exciting time for IBOS as the network is expanding in different jurisdictions, confirming the attractiveness of our value offering to members’ corporate clients. I look forward to working with the Axis Bank team in India and enhancing this fruitful collaboration across our network of member banks.”

IBOS is keen to continue expanding its international alliance across the globe. Through IBOS, members provide local banking services across the globe 24/7.