Overview
The client has a large network of agents who accept cash from migrant labour and make real-time transfers to their relatives in far-flung regions, using IMPS.
Project Scope
Technology:
TransXT
Several corporate BCs require IMPS transfer service from the bank. BCs do not have tech capabilities. Integration of each BC with the bank’s system is time-consuming and costly.
Solution
TransXT back-end is integrated with the bank’s IMPS system. At the front-end, TransXT offers a select Application Program Interface (API) to BCs as per their requirement. TransXT platform features include wallet management. Agents recharge their wallets, accept cash from remitting customers and transfer from wallet to beneficiaries using TransXT IMPS.
Value Delivered