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Ribbon, Tribe Payments launch financial services app for Indian diaspora in UK
“This launch represents a significant milestone in our journey to offer NRIs and other users a comprehensive and sustainable financial solution,” the co-founders said.
The app, developed in collaboration with Tribe Payments, offers multi-currency accounts and instant money transfers, emphasizing security, sustainability, and innovation. / Tribe Payments.
Ribbon, a financial services platform co-founded by Suchit Punnose and former ICICI Bank head Ashesh Jani, has launched a carbon-neutral financial super-app in the UK, targeting the Indian diaspora and other users with cross-border financial needs.
The app, developed in collaboration with Tribe Payments, offers multi-currency accounts and instant money transfers, emphasizing security, sustainability, and innovation.
“The UK launch fulfills a long-standing goal of simplifying cross-border money transfers for non-resident Indians (NRIs),” the co-founders said. They highlighted the app’s unique environmental focus, which allows users to track their carbon footprint and ensures every transaction contributes to sustainability goals.
Tribe Payments, a specialist in issuer and acquirer processing, has played a pivotal role in Ribbon’s UK launch. The partnership began with Ribbon’s initial rollout in Gibraltar earlier in 2024, where Tribe provided issuer processing services.
Now, Ribbon’s UK expansion is supported by Tribe’s advanced payment infrastructure, including its proprietary Risk Monitor platform, which evaluates card transactions in real-time to ensure compliance with anti-money laundering (AML) regulations while enhancing transaction security.
Additionally, Tribe’s 3D Secure solution bolsters Ribbon’s fraud prevention measures, providing users with seamless authentication for online payments. Representatives from Tribe expressed satisfaction with Ribbon’s growth, stating, “Our partnership reflects a shared commitment to supporting sustainable and inclusive financial platforms.”
Ribbon’s multi-purpose app is designed for both personal and business users, offering a suite of financial tools alongside instant money transfer services to India and other countries. The platform’s commitment to sustainability extends to every transaction, aligning financial convenience with environmental responsibility.
As Ribbon looks to expand its reach, the company aims to build on its collaboration with Tribe Payments, delivering secure, efficient, and environmentally conscious financial services to a growing user base. “This launch represents a significant milestone in our journey to offer NRIs and other users a comprehensive and sustainable financial solution,” the co-founders said.
The UK launch is expected to strengthen Ribbon’s position in the global financial services market, particularly among the Indian diaspora seeking efficient cross-border financial solutions.
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