Portfolio CityForex

Overview

OptiSol helped a Fintech-based service provider with a digital engineering solution that provided an end to end foreign remittance solution for money transfer across various countries. This mobile application was launched in both android and iOS platforms and integrated with third party services for providing inbuilt features

The Digital Driver

  • Enables to easy source and manage Agents, Agent Contracts, Reconciliation, Inter branch transaction, P&L Statement and Compliance.
  • Integrates with third-party services for Bank transfer integration, Fraud Prevention and electronic submission of compliance reports.
  • Enable customers to easily compare rates and request for fund transfers and also provide KYC information and submit documents for verification.

Business Value

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KYC Process

Easy onboarding process with user information and integrated options for scanning documents required for “Know your Customer”.
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API and Reports

Generate compliance reports based on the country of origin with Lexus-Nexus API.  Integrate with various providers – POLI API for Forex transactions and Lexus/Nexus API for compliance.
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Quote and Fix

Customer can check for the currency exchange rate provided and quote for it. On confirmation, they can transfer money based on the fixed rate.
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Rule based Fraud Prevention

Detect and prevent fraudulent transactions with configurable fraud prevention rules.
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Agents Management

Onboard and manage agents/sub-agents who bring business to you. With multiple users under each agent, operate with ease.
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Fees and Charges

Configure transaction fee and commission rates applicable across agents and sender.

Tech Stack

No-Obligation Consultation
Aws