Remittance businesses

Flexible remittance software.

White label money transfer platform.

Cymonz can provide any business with a remittance platform that gives customers the experience they demand. Either out of the box or configured to suit, you can instate a compliant remittance service quickly with a low cost of ownership.

CASE STUDY

Tonga Development Bank

Tonga Development Bank

A cost-effective remittance solution empowering individuals

Remote migrant workers were once plagued with a high costs when remitting money. The International Finance Corporation and Tonga Development Bank, developed a concept which provided a solution for low-cost remittances. Cymonz instated their remittance platfrom that enabled the delivery of this solution. Each new transaction saves the customer money, creates new revenue streams for Tonga Development Bank and adds strength to Tonga’s import/ export ledger.

Learn more about this custom solution

Delivering the international payments experience remitters want.

The firepower to compete with the big guns

Cymonz allows you to take on remittance giants such as Western Union and Money Gram.

Online Marketplaces, Supermarkets and large retail chains are implementing Cymonz remittance platform as it adds new services to their current customer base, as well as attracting new clients. These businesses can accept both cash transactions due to having a large number of physical stores, as well as catering to those seeking an online experience via the web portal or mobile app.

User-friendly experience

Cymonz provides user-friendly functionality and speed for the consumer/remitter at both the sending and receiving end.

Remittance that scales as you grow

Allow your remittance business to scale without the need to develop your own platform.

End to end solution

A customer self-service platform where the end customer can transact. Back office management application from where the remittance business can be managed.

Freedom to choose

Integrated with third parties to both increase the customer experience and straight-through processing rates.

Utilise multiple payment rail providers giving the end customer more choice on how fast or the most cost-effective to send money.

Expand your remittance capabilities

Cymonz can provide those who don’t offer financial services but have an existing customer base the opportunity to expand their services with an out of the box, highly scalable and customisable branded solution.

For the end customer, our platform delivers in 7 simple steps

  • Sign up.
  • Provide your ID details for verification and receive real-time approval.
  • Enter & save the beneficiaries details.
  • When remitting the exchange rate is locked in real-time.
  • Payment is made by Bank Transfer. Alternative methods are available depending on the location and payment rails used.
  • Both parties receive an electronic notification when the money is received.
  • Remittance can be paid into the beneficiaries bank account, mobile wallets or collected in cash.

How flexible is our international payments software?
‍Find out for yourself.

Request a demo

Key features.

The flexibility to update legacy systems, automate manual handling, and give your customers the experience they demand.

View the full list of features

Responsive website

Your customers can transfer currency at live market rates or set limit orders to be automatically monitored and executed. You set the currencies available, the margins (profit markup) charged and the hours clients can trade. Your customers are buying and selling currency, specifying payment details in a secure, efficient and competitive environment.

Secure account registration

Customers can register for your currency exchange services online and access, view and provide any required compliance documentation. Our integrations with Netverify (c) allow your customer to easily provide identification requirements and our PEP databases ensure you are meeting compliance obligations. If you already hold the appropriate data for your client contact us to learn how you can bypass this process.

Dynamic iOS and Android applications

Your clients can transact all their currency requirements from their smart phones. Functionality is the same as your customer website offering and includes a client dashboard, currency transactions, limit orders, beneficiary management, account history and account management functionality.

Easy-to-use Content Management System

Get full control of the public pages you display to your clients and leads. Manage colours, logos, menus, pages available and all your content through our content management system along with selecting whether to display currency calculators to the public.

Manage FX settlements and currency payments

Set your settlements process times and then follow the  work flow for all daily settlement tasks and processes. Manage customer receipts and bank account statements, counter party reconciliations, extend or cancel overdue contracts, view and execute counter party and beneficiary currency payments and link customer bank accounts where direct debits are available.

Integrate key currency functionality

Our API allows you to integrate key currency functionality into your in-house or customer-facing applications, provide access to third party developers or even provide customers access to their account through the API. The REST based API provides functionality to create customer accounts, transact currency, manage beneficiaries and pull complete account history.

Real time risk management

If you elect to not use automatic clearing on all client transactions you can manage your risk through your currency position sheets in real time. Positions are marked to market every thirty seconds and any new transactions are added in real time. Manage required liquidity through SWAPs and automatically close and transfer positions daily.

Integrated compliance, AML and KYC

Cymonz integrates with PEP databases for automatic database name scanning. As PEP matches are made, compliance is alerted and matches can be processed within the application. Set matches as positive, false positive or suspend accounts and report to outside authorities if required. Set your risk management and suspicious transaction monitoring rules and allow your application to notify your compliance staff of any suspicious transactions.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Website proudly by Imagic Creative