Estel Remittances
The Future of International Remittances with Estel
International Remittances (or, cross border payments), is an act of sending or receiving payments internationally. The colossal size of this market is estimated to reach over $250 trillion by 2027, from over $156 trillion today.
Remittances are broadly divided into two segments:
- Business to business (B2B) payments, the market size of which is $150 trillion annually
- Person to person (P2P) remittances, which is a $800 billion annual market
Remittance operators globally operate under 2 business models:
- As Remittance Aggregators, when they facilitate payments by acting as a Hub or an Exchange, connecting multiple Send side & Receive side operators in different countries
- And secondly when they act as Service Providers to end users, both businesses & individuals
Under both models, Remittance operators provide:
- Transaction processing
- Routing or Switching
- Foreign Exchange conversion
- Financial settlement
Estel provides a robust, scalable, secure, feature-rich Remittance Platform to enable these services for Remittance Operators and Fintechs, with appropriate customizations to tailor fit the technology to our client’s needs.
Estel offers a high-performance, scalable, and highly robust Remittance Aggregation Platform that allows Exchange Houses and licensed operators to operate a global aggregation service, serving other licensed operators anywhere in the world.
This platform acts as a digital, API-based global network connecting multiple Send side & Receive side operators to each other in a typical ‘Hub & Spoke’ configuration, enabling an aggregation service.
Modules of the platform include:
- Send side Client on-boarding
- Receive Side Payout Partner on-boarding
- Currency management
- Foreign exchange management: rates & margins
- Service fee management
- Transaction limits management
- Liquidity management
- Screening module (integration to external screening service is required)
- API layer, for all external connections
- Customer care module
- Reporting module
- Role based access rights
Featured customer using the Estel Remittance Aggregation platform is RemittancesHub.
Estel’s Remittance Platform is a comprehensive solution designed specifically for Remittance Operators. It allows remittance operators to operate and manage their business more efficiently and with greater ease. The platform also enables them to rapidly expand their operations in wider geographies by easily onboarding remittance agents and empowering them to conduct business.
Built with the needs of large-scale remittance businesses in mind, this platform offers an intuitive interface and a robust transaction management engine capable of processing millions of transactions on an hourly basis. It leverages Estel’s extensive experience to seamlessly integrate with financial institutions like Banks, Payment Service Providers (PSP), Exchange Houses, FX providers, Screening services, and Digital (mobile) wallet operators, allowing inward/outward remittances directly into/from bank accounts or wallets.
Salient features of this platform include:
- Domestic and International remittances
- Cash-2-Cash
- Wallet-2-wallet/bank account/cash
- Bank account-2-wallet/bank account/cash
- Agent & Teller management
- External partners on-boarding
- Commission and fee management
- Multiple Currencies
- Foreign Exchange Rate Management
- Transaction limits management
- Liquidity management
- Tariff Calculator
- Compliance with local and international regulations on KYC, AML/CFT etc., including integration to screening services
- Clearing and Settlement
- Coupon Management
- Advanced Reporting and Analytics
- Customizable and Scalable
- Robust Security and Fraud Prevention
- Customer care
- Management of Access levels
Remittance Platform by Estel Technologies empowers remittance operators to streamline their operations, enhance customer satisfaction, and drive business growth. With its comprehensive features, advanced technology, and industry-leading expertise, this solution is the catalyst for success in the dynamic and fast-paced remittance industry.
