FAZRemit is an online service for individuals in the USA to send money to Nigeria, Ghana, and Kenya. The multi-device compatible platform provides a personal dashboard for CogniDNA cleared users to send money to their friends and family members’ bank accounts in real-time. With FAZRemit, Alpha Fortress has taken a step in the direction of bringing a drastic change In the segregated online remittance market of Nigeria, Ghana, and Kenya.
Only 40% of Nigerians, Kenyans, and Ghanaians are banked whose loved ones sending money are paying unjustified transaction fees for international payments.
For KYC verification and customer on-boarding, Banks and IMTOs take anywhere from a few days in 1st world countries to a few weeks in developing nations.
De-banking, because of strict AML/CFT laws, made millions of individuals lose their bank accounts. It further poses a threat to millions of underbanked as well as banked individuals in these developing countries who are trying to make
37% unbanked population in these countries relies on the informal revenue inflow because of lack of proper financial infrastructure and uncertainty