The Cross-Border Money Transfer & Payments Industry still relies on legacy systems, especially medium and small-sized companies. Some traditional players increasingly understand the need to evolve or digital-first companies will exponentially increase their market share. And it is not only about providing digital services or not, about the speed of customer adoption of new digital models; the issue is that, without making changes across the existing services value chain or inventing an entirely new digitalized services model, some companies may not succeed. Some companies might be even too late to change and need to sell their operational value to another company with the technology to take it over. Without a state-of-the-art money transfer software system (MTSS), a good compliance program, one that passes enhanced regulatory scrutiny, is almost impossible. An enterprise digital transformation strategy, organizational solid commitment from the top down and employee support are critical to make the change.
Even banks now realize that their core banking systems are not geared for the need to provide reliable, efficient, and digital-ready technological services to manage the intensive transaction demands of a good and safe cross-border money transfer system, either on the sending or payment side of the equation. Banks are realizing that they need an MTSS to lay on top and interconnect to their core banking system to manage money transfer & payments.
We have helped many companies with their technology transformation. We know the best software providers available in the market, and we will help you make the best decision possible. We give you the options you choose. We will help you manage the pros and cons based on your goals and individual needs. Talk to us.