Plug & Play, End-to-End Solution
About
Applicant name: RemitOnline
Innovation Name: RemitOnline
Innovation Type: Solution
Website: http://www.remitonline.info/
Mission: Financial Inclusion: Empowering the Migrant Workers in Malaysia
Innovation Description: RemitOnline is an end to end , plug and play ,bank grade tech platform that can enable both online as well as offline money transfers. Using it anyone can launch their own remittance service with minimum capital expenditure and time to market.
The legacy remittance industry has been long dominated by cash, which requires physical locations where customers can hand over or pick up money. Building out those retail networks is a huge investment. It’s left just a few players, called Money Transfer Operators (MTOs) and banking\financial institutions controlling a bulk of the industry. But these companies’ comfortable hold on the industry is now being challenged by digital remittance startups. Digital-first remittance companies are competing on fees and usability, and capitalizing on the way people’s expectations have changed with the advent of digital and mobile channels.
We are like a one stop shop for anyone who wants to do remittances digitally. RemitOnline is already being used for their remittance services by –
1)YES bank (www.yesremit.in)
2)Kotak bank (kotak.remit.in)
3)Axis bank (www.remitmoney.com)
Status of Innovation: In-Market
Innovation Active:
Applicant Type: Private Company
Headquarter City: Mumbai
Headquarter Country: India
Year Founded:
Main Category
Main Category Choice: Technology Innovation
Why do you think you should win this category?:
The main advantages of our product which sets us apart from other players are:-
1)Plug & Play, End-to-End Solution
2)Integrated Global Payments & Compliance Solutions
3)Multi-Currency and Multi-Country
4)Flexible pricing structure
5)Bank-grade, built by domain experts
6)Regulatory coverage & regulatorily compliant
7)The best thing is that it does not involve high upfront costs and operates on a pay as you go model.
Secondary Category
Secondary Category Choice: B2B Solution
Why do you think you should win this category?
The main advantages of our product which sets us apart from other players are:-
1)Plug & Play, End-to-End Solution
2)Integrated Global Payments & Compliance Solutions
3)Multi-Currency and Multi-Country
4)Flexible pricing structure
5)Bank-grade, built by domain experts
6)Regulatory coverage & regulatorily compliant
7)The best thing is that it does not involve high upfront costs and operates on a pay as you go model.
Team Members
Full Name: Hershel | Asmani
Role: Co-founder
Linkedin: https://www.linkedin.com/in/hershel-asmani-72b2bb41/
