Providing a comprehensive remittance platform
Applicant name: INFICARE Pvt Ltd
Innovation Name: iRemit
Innovation Type: Product
Website: http://www.inficare.com.my
Mission: Providing a comprehensive remittance platform with a sound and dynamic compliance solutions.
Innovation Description: In recent years, the growth and size of remittance flow in most of the developing nations have gone up in quite an overwhelming number. This, in turn, has resulted in rapid admission of money service companies around the world. While it could be a game-changer for any economy, it also poses various challenges in the implementation of a robust compliance management system that can track and block any suspicious transfers as an absence of such can lead to money-laundering related fraudulent cases.
In this respect, keeping the system up-to-date with changing regulatory additions is not only vital but one can be severely penalized for not complying with the new obligations. For SMEs, in-housing such solution from an outside source can demand them a fortune, further discouraging them to even start up a business in the first place.
Our service is designed in such a way that it tackles all these issues while being accessible to companies of all sizes without compromising the quality of service we offer.
Status of Innovation: In-market
Innovation Active Since: 08/04/2016
Applicant Type: Private Company
Headquarter City: Kathmandu
Headquarter Country: Nepal
Year Founded: 2005
Main Category
Main Category Choice: Compliance Solution
Why do you think you should win this category?:
iRemit aspires to give the best possible business solutions for our system users, with compliance being one of them.
Maintaining compliance is vital for running a remittance company and this has always been at the forefront of our core objective. Our system is designed to be dynamic in nature, which enables the most sophisticated of rules to be run with a simple procedure in the system. Using iRemit, our clients have the means to change and set new rules as per their regulator requirements of their countries from which they function respectively.
iRemit provides a complete and coherent compliance solution while also providing clients the ability to set rules as per the characteristics of the transactions. Our strengths are in the flexible functionality as our system checks transactions via sender details, beneficiary details, transaction type, sender and payout currency wise, partner-wise, customer risk profiling – all of which can be edited by our clients as per the needs of the ever-changing compliance rules.
Secondary Category
Secondary Category Choice: Remittances For Development
Why do you think you should win this category?
Nepal is a developing nation with reliance in both the international and domestic remittance sector which plays a pivotal role in the growing GDP of the country.
Seeing the need for a stable and reliable service provider, iRemit has strived towards providing a coherent system towards the Nepalese remittance industry and has successfully been providing it for the past 15 years.
Local and small-sized businesses always face the struggle to fit in with constantly-changing regulations and at the same time compete with market-leaders to deliver efficient services to customers. iRemit provides numerous such small businesses the full-fledged complete platform empowering them to build a successful company.
The reliability and the exceptional service we provide has helped us accumulate about 75% of the banking sector in Nepal as our clients and our service providers spread across more than 20,000 locations in the country, making our service the most accessible at even the most rural areas in Nepal.
Team Members
Full Name: Anoop Sherchan
Role: Chief Executive Officer
Linkedin: https://np.linkedin.com/in/anoop-sherchan-51040b90
Full Name: Sishir Maharjan
Role: Chief Technical Officier
Link: https://www.linkedin.com/in/sishir/
Supporting Links
iRemit Product information: http://www.inficare.net/iremit.php
Entry Representative
Full Name: Anoop Sherchan
Role: Chief Executive Officer
Please publish the entry rep’s following information: Email, Phone
Email: anoop@inficare.com.my
Phone: 9779851040367
