Mobile Money Transfer Solution Enabling Cross-Border Payments
For a Europe based digital enterprise to simplify the process of global money transaction
About
A digital enterprise offering banking and financial management services was in pursuit of a mobile payment app development partner. It was to create a robust and comprehensive custom solution that simplifies currency distribution and facilitates instant fund transfers anywhere in just a few taps.
Platform
Cross-platfrom
Industry
Digital Enterprise
Region
UK
Key Features
The centrally-hosted transaction platform helps manage secure fund transfer transactions based on the integration of reliable & available third-party solutions for payment processing.
User authentication
Multi-layer login verification to validate the user identity before processing digital cash transfer via the mobile app with real-time status tracking of processed transactions
Secured money transmission
Swift, secure, and convenient money transfer environment by enabling the best practices of fraud detection & rectification, with optimum account management
Wide support
Contactless payment system for users that supports 1000+ credit unions and bank accounts
Live rates and currency trends
Real-time update on exchange rates before making the final transactions to benefit from discounts on transfer fees
Challenges
- No system to enable global compliance norms for fraud detection, tax evasion, anti-money laundering
- Unavailability of real-time currency conversion mechanism
- No tracking mechanism of user & transaction management
- Lack of system which can support multiple platforms
Solution
We developed an easy to use and intuitive user interface platform to streamline money transactions for their customers across the globe.
Seamless experience
We leveraged Xamarin cross-platform technology to create a customized mobile money transfer app for iOS and Android. It helped minimize development costs, increase device adoption, and app usability
Regulatory compliance
Our expert team integrated services like KYC (Know Your Customer), AML (Anti-money Laundering) & currency cloud to meet the global compliance laws
Instant notifications
Both the sender and receiver get real-time notification about the funds transferred to stay informed about the transaction status
International transfers and currency exchange
Allow users to enjoy stress-free cross-border fund transfers such as sending euros and receiving dollars in just a few swipes
Technologies Used
Project Snapshots
100%
transparency and traceability of transactions
5x
increase in operational efficiency
Highest
customer satisfaction achieved till date
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