Being a member of a trusted network in the finance industry is crucial. Creating such an ecosystem can take a considerable amount of time, especially when an organisation is a new player. Nonetheless, the correct partnerships can make all the difference. Agents involved must be trusted; both remitters and beneficiaries must have access to convenient distribution points to send and receive money. In addition to this, reliable platforms must be supported by entities operating within ‘a network’ in order to minimise the risk of fraud and comply with regulation.
The success of your remittance business depends on several factors, one of the most important being your agent and correspondent network. Whether you are an established MTO, bank or start-up business, getting your heels off the ground depends on the community or network you have access to.
A trusted brand can not only attract new customers but can also ensure that regulators and banks within your network allow you to operate unrestrictedly. It’s usually the case that reputable groups of organisations connected and affiliated with one another comprise a network. But when an interconnected group of networks come together, you have a ‘community’.
A community in simple terms can be seen as collection of networks associated with one-another to achieve the same goal. This can be achieved through standard procedures or a union amongst participants aiding one another with their expertise, experience and business reach.
All businesses and organisations today benefit by associating with communities. Whether it is on-line via forums, Facebook, Twitter or other social networking sites, businesses today are almost completely dependent on their community status. Communities, as a result, have become more prominent and influential in their respective industries. Feedback from users and vendors can be obtained immediately and can serve as a vital testing-ground for new products and services.
Over the last 5 years, RemitONE has been rapidly expanding its own community, the R1 Community which comprises RemitONE’s clients around the world and also includes, in some instances, the client’s correspondent banks and agents as well. If you become a RemitONE client, you become a member of the R1 Community and have instant access to other community members from around the world.
You can now tap into new markets with ease and with minimal upfront investment in terms of time and costs as RemitONE facilitates the introductions with R1 Community members of your choice. This also means you will deal with established entities that are in compliance with their respective regulatory bodies.
Today, the R1 Community spans all continents, making the latest technologies – online & mobile remittances; mobile agents and airtime top-ups – available to the unbanked individuals.
Through RemitONE’s Webservices API and FTP connectors, the RemitONE platform can integrate with ID Verification systems, core banking systems, SWIFT and third-party remittance systems.
The core RemitONE platform comes integrated with industry leading SMS gateways, payment processors, mobile network operators, mobile money operators, airtime providers and distribution networks of established money transfer brands around the world.
To find out more about the R1 Community, please call +442080995795 or visit http://remitone.com/contact_us.php .
