Remittance & Money Exchange
MSBaaS is a comprehensive solution to meet the growing and dynamic needs of Remittance, Currency Exchange and Wholesale Banknote Trading. The solution provides an alternative channel for customers to perform electronic remittances without visiting the branch. Its Web based design allows Customers and Agents to access the platform online and perform remittances online from anywhere and anytime. To access the electronic remittance services, customer will have to register themselves and their beneficiaries on the website to meet the KYC (Know Your Customer) and AML (Anti Money Laundering) requirements. The solution is seamlessly integrated with payment Gateway such as FPX (Financial Processing Exchange) for debiting of funds, supports wallet services and encompasses various digital channels. Customers have the flexibility to use their current or saving account for electronic remittance payments. This solution addresses the growing demand for electronic remittance services and align with the initiatives set forth by Bank Negara Malaysia to promote electronic payments and remittance services in Malaysia. The key features are:
MSBaaS suite is all-in-one platform for Inbound and Outbound Remittances (P2P, P2B, B2B, B2P), Money Exchange (Retail & Corporate), Wholesale Bank Note Trading and diverse channels such as Brick & Mortar Channels (Branch / Agent / Sub Agents) along with Click and Swipe Channels (Self Service Online Portal & Mobile Apps). This comprehensive suite covers the entire spectrum of Money Services Business verticals. Additionally, the suite is composable and the modules can be activated on a need basis.
MSBaaS suite is available as a white label turnkey managed solution with ready APIs to Payout Partners including end to end set up for Implementation and maintenance. The solution can be easily hosted in the cloud or On-premises based on the requirement. The solution also supports Modular implementation to align with Business Strategy.
MSBaaS is designed with best security practices and features multi-layer security architecture. It incorporates robust security measures like 2 Factor Authentication, Hashing and Multiple Firewalls equipped with advanced geo-fencing capabilities, enabling the capture of IP addresses and GPS location. Built on Microsoft technology, the system is designed to be scalable allowing for seamless Infrastructure expansion in response to increased transaction volume. The client can also perform independent penetration testing and source code analysis, while we offer comprehensive support throughout these processes.
MSBaaS offers an extensive array of functions and features. Its parameter driven design ensures fast, flexible and frictionless transaction flows for real-time processing. Powered by APIs, MSBaaS is designed to drive remittances efficiently. Its API-driven approach empowers authentication, liquidity management, payments, and real-time settlements, ensuring the swift funds movement and crediting.
We understand that you may have unique business models and may require specific features or enhancements, no matter how big or small, we are happy to oblige. Our proficient resources possess the technical and domain expertise to implement necessary changes, offering competitive pricing without compromising quality.
The Platform supports Know Your Customer (KYC), Enhanced Due Diligence (EDD), Sanction Screening, Identity verification (name, address, and ID documents) and Anti-Money Laundering (AML) compliance. It enables real-time monitoring of transactions and customer risk scoring, facilitating the generation of Suspicious Transaction Reports (STR). As part of our package, we provide comprehensive and readily available reports to ensure compliance with Regulatory Requirements.
We prioritise research and development, innovation and roadmap planning to continually enhance our platform. Our focus is on crafting new features and functions that empower our Customers and Partners to remain at the forefront of the market while aligning with industry requirements. Our commitment revolves around ongoing innovation, delivering a comprehensive and advance "All in One" platform that remains modular, ensuring it meets our clients' needs.
We provide flexible financial models, including OpEx and CapEx options, tailored to meet our clients' needs. Our models are straightforward, fair and transparent with no hidden costs. We strongly endorse a Collaboration Model, emphasizing risk and return sharing, fostering mutual growth. As a technology enabler, we assure complete peace of mind allowing you to concentrate on your core business with confidence.
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