We are going to discuss the digital evolution of the global money services businesses industry. What can we do to transform the global remittance FMI industry and help the business automate boring tedious business processes with KYC Block and a personalised white label solution?…
Before going further, let’s talk a little bit about - Why and What! Why should your money transfer business integrate automation solutions?... What value will it bring to the customers and business?
The customers have been experiencing the short-end of the stick with atrocious customer onboarding experience with high transfer rates in these tough times. According to the World Bank, the global transfer rates should be reduced to 3% by 2030. We as Fintech leaders of the finance industry owe a great deal of our gratitude to our customers & every potential clients to deliver exceptional financial services while elevate them to a higher echelon of financial inclusion.
Do you feel if these fundamental issues can be handled by some machines or technology, while MSBs can efficiently direct their business resources for everyday peace of mind and provide better services? Welcome to the club of many customers who feel this way and are looking for a solution. Well! To bridge the gap between all the issues experienced by the customers and MSBs, AlphaFortress in collaboration with Choice International has designed a white-label website with advanced functionality to automate your mundane tasks. We have been working to transform the global money sending business industry with our white-label website platform.
So how will we achieve it? The more important question is — What will a white label website do for the customer?
So how will a white-label website change the current MSB industry?
Just like every mass-engineered product from consumer electronics to software, a white label website enables a business with a readily available infrastructure of services, thereby reducing the time and cost for customer acquisition. While being a mass engineered product, the best thing about the white-label website is that businesses can add their own flavour of customisation with extra functionality and create a unique identity for better customer experience while challenging the big league players in the MSBs. The whole line of products is instantly available to the customer, reduce the financial risk with a tested system, and allows MSBs to allocate their resources on creating a better customer experience.
However, there might be many questions going through the mind of the customers and business. The MSB industry has created as well as aided wild problems that have been eating out the industry from within while customers have been the majorly affected by these issues.
In every financial transaction, the customer is the one most affected by the decision of MSBs at the end of the business cycle
It’s quite clear from the mass discontent of the customers, regulators, payment gateway providers, and even the Money Services Businesses (MSBs) themselves that the entire Financial Market Infrastructure (FMI) has been inept to deal with an array of issues and problems including but not limited to the dependencies on one another and lack of clear accountability because of their short-handedness of the right tools, i.e. Financial Technology (FinTech). Let’s check what are these problems and their effects on customers:
Improved ID verification system, exceptional customer onboarding experience & affordable interest rates are the core principle behind the development of this solution
We have always found these issues to be the main hindrance behind the final inclusion of customers and the digital evolution of MSBs. From day one, our approach has been to eliminate these issues while creating a robust, secure and reliable system for the MSB to easily facilitate sending services to the customers.
With the synergy of Blockchain, Artificial Intelligence and Big data analytics, we have incorporated advanced features into our white-label solutions that are vital for the customer and MSBs industry: