Product Launch-Andhra Bank-AB Speedway
Four months ago, Mr, R.S.Reddy’s Andhra Bank’s Chairman and Managing Director, launched a new Product known as AB Speedway, at a function organized in Edison , New Jersey
More Details can be accessed @
It is nice to know, that Andhra Bank has dedicated a separate webpage for this New Product. The Webpage is comprehensive and quite informative.
AB Speedway aims to tap the NRI’s need for a quick and safe remittance facility.
AP Speedway is a White-Label Product. It rides on Citibank’s QuikRemit customizable remittance platform.
As per Wikepedia, A white label product or service is a product or service produced by one company (the producer) that other companies (the marketers) rebrand to make it appear as if they made it.
In a way, Andhra Bank has taken a wise decision to White Label an existing product, rather than inventing the wheel. It is a win-win situation for Andhra Bank, Citi, and most importantly Andhra Bank’s NRI Customers.
As the product has been launched 4 months back, I am sure by now; Andhra Bank has got positive feedback, and ironed out, any glitches if any.
The Launch process started in September’2008, with the signing of the Agreement, and ended on June 09, with the launch of the Product as AB Speedway.
Trust Andhra Bank is remitting funds thru RTGS Mode, for Indian Beneficiaries not having account with it.
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