Banks, once the cornerstone of international payments, are finding themselves sidelined. Senders and receivers have now joined forces, pushing banks out of the equation. 

But all is not lost. By embracing cutting-edge tools and software, banks can avoid being bypassed by larger MTOs and telcos. By connecting via a simple API to the RemitONE Hub™, they gain access to a multitude of MTOs, banks, and telcos worldwide, enabling them to send or receive various payment types, including cash, bank account, airtime, utility bills, and mobile wallet payments. 

The Challenge: Banks on the Sidelines 

The traditional banking model for international money transfers is facing significant disruption. People now have access to digital services that make transfers quick and easy with just a tap on their phone. Fintechs and money transfer operators (MTOs) help senders move money faster and cheaper, while aggregators and telecoms ensure it reaches even the most remote places. 

Which leaves the lingering question: Where does that leave banks? How can they stay relevant in this shifting landscape? 

The Solution: The RemitONE Hub™ 

RemitONE offers a powerful solution by acting as a bridge between banks and the wider fintech ecosystem. 

The RemitONE Hub™ is a secure, flexible platform to manage and process money transfer transactions. Powered by modern technology, it offers real-time transaction monitoring, tracking, detailed reporting, and customisable features, all offered within a white-labeled solution. 

What makes the RemitONE Hub™ stand out? 

• Relevance: connects all key entities in the supply chain—MTOs, banks, and telecoms—ensuring that every participant benefits from the ecosystem. 

• Flexibility: seamlessly integrates with existing systems, allowing banks to plug in with minimal disruption. Alternatively, it can replace outdated money transfer platforms, and infrastructure, offering unmatched adaptability. 

• R1 EcoSystem™: gain access to the expansive RemitONE network to open doors into untapped corridors and unlock fresh revenue streams. Take a look at a quick snapshot below: 

Here’s how RemitONE Hub™ reconnects banks to the global money transfer network: 

1. Connecting Sending Partners 

Sending Partners: The entity responsible for originating the fund transfer, whether through a digital platform or traditional method. 

On the sending side, the RemitONE platform integrates with: 

• Fintechs  

• MTOs 

• Aggregators 

2. Empowering Receiving Partners 

Receiving Partners: The entity that receives the funds on behalf of individuals or businesses, whether through a digital platform or traditional method. 

On the receiving side, RemitONE connects banks to: 

• Fintech 

• MTOs  

• Aggregators 

• Telecom Operators 

This interconnected framework ensures that banks remain an integral part of the financial journey, from sender to receiver. 

With RemitONE’s all-in-one system, the complexity of managing multiple platforms is eliminated, saving your team valuable time and reducing the risk of human error. With fewer systems to manage, your processes become more efficient, allowing your bank to operate smoothly, stay ahead of competition, and remain fully compliant—staying firmly in the good books of regulators. 

Conclusion: The Future of Banking in Cross-Border Payments 

The financial world is moving forward, and so must banks. By embracing platforms like RemitONE, banks can transform potential challenges into opportunities, becoming central players in the global money transfer network once again. 

We’ve already empowered leading banks like Stanbic Bank, Banco do Brasil, Attijariwafa, and UBA—and you can be next. 

The RemitONE Hub™ is not just a solution; it’s a lifeline for banks striving to stay ahead in a rapidly digitising world. With its ability to connect banks to the innovators driving the money transfer revolution, RemitONE ensures that no one gets left behind. 

Book a FREE consultation with our expert consultants, and let’s get your bank back in the cross-border payments game.