Merchant Trade Asia (MTA) signs up with Connect Seven Solution via Singapore based technology consulting company, Daemon for their call center and automated rate inquiry solution. The CentrePoint system will enable MTA to distribute inbound calls to their call center to agents located in multiple countries. It will also allow MTA customers to check latest remittance exchange rate via IVR.

Globally, remittances are estimated to reach US$581 billion this year and grow to US$681 billion by 2016 – a CAGR of 8.3%. However, the system of remittance is not yet efficient. For e.g.: If the cost of sending remittances could be reduced by 5 percentage points relative to the value sent, remittance recipients in developing countries would receive over USD$16 billion dollars more each year than they do currently. We believe this can be achieved as much by policy changes as by the use of technology.

Further, new initiatives in countries like India to create “Payment Banks”, have opened a huge business opportunity and demand for money transfer services. Additionally, financial inclusion mandates in developing countries are driving financial institutions, mobile network operators (MNOs), alternate money transfer providers and private exchange houses among others, to offer innovative services.

Daemon’s Money Transfer Solution, Remit4Sure, meets the critical demands generated from these new developments. It facilitates both domestic and international remittance services through web, mobile and agents. Daemon’s latest customer is one of the largest mobile virtual network operators in Malaysia.

Featuring a robust & scalable platform, Remit4Sure delivers an easy integration capability that fully functions with the infrastructure of service providers while giving easy access to the end users.

Some of the features of Remit4sure includes-:

  • Customer Self-service , Call Center and Back office portal for end to end transaction management
  • Capture complete customer details including Financial regulatory details for policy enforcement
  • Option to include rules for compliance such as negative lists, UN reported terrorist checks, suspicious transactions
  • Establish virtual wallets for complete accounting (Agents have to physically add cash to their wallet, branches can add virtual cash to their wallet)
  • Supports Agent and Customer commissions and deals
  • Accounting ledger and balance reporting
  • Predefined integration with services like MoneyGram and payment gateways
  • Implements rules based loyalty management solution