The e-Remittance module provides accurate measurement of remittance in ows and out ows, thus addressing the critical need for traceability and visibility in the money transfer ecosystem of a given country.
e-Remittance aims at dramatically improving the control and governance of the remittance market through a country-speci c data mining approach. Instead of relying on partial reports and surveys, e-Remittance allows governments to make a giant leap toward a much more active governance solution supported by comprehensive and real-time data.
By providing the ability to independently collect data and verify transactions, e-Remittance dramatically enhances a government’s capacity to enforce Anti-Money Laundering (AML) and Know-Your-Customer (KYC) standards and, overall, to ensure the integrity of the whole remittance ecosystem.
→ Continuously updated lists of originating countries for inbound remittances, with total amounts and transaction volumes → Continuously updated lists of the top ten originating countries, with total amounts and transaction volumes
→ Amount and volume of transactions in total and per RSP, for the current period and for any given period;
→ Highest remittance level by period and by country
→ Detailed transaction history for each remitter (identi ed by their phone number) → Total income from the micro-levy (if any) for the government
→ Alarms on any suspicious transaction and/or series of transactions
→ Lists of all suspicious transactions
→ Enforces transparency and accountability in the remittance ecosystem of a given country
→ Enhances governments’ capacity to enforce Anti-Money Laundering (AML) and Know-Your-Customer (KYC) standards and, overall, to ensure the integrity of the whole remittance ecosystem
→ Allows for the active monetization of remittance transactions as a source of innovative financing for development