Our platform is a cloud-based core banking system (CSB) that connects to banks and Money Transfer Operators (Western Union, Ria, MoneyGram, and several other MTOs are already integrated). The platform presents a unified front end to the bank, providing an interface for accessing a variety of services, depending on the modules connected. In particular, the Remittance module provides single access to all MTOs.
Best Transfer’s clients are commercial banks providing money transfer services. Our users are all people who send or receive money. They are assisted by a mobile app that sends a request to the CSB, which in turn generates a transaction for the user.
We want to enable banks to enter the huge remittance market, where high transaction fees are the biggest difficulty.
If each bank has an exclusive contract with an MTO, then our platform will continue to integrate with other operators working in the US.
Our clients (banks) and agents (retailers) do not need to develop anything, as we provide ready-made software with an open API. When an individual attends a shop and deposits money for a transfer then the bank will have permission to debit this amount. The bank and the retailer get a commission on the transaction.