- License, Bank Account & Regulation
- KYC & AML
- Expanding Your Send & Delivery Networks
- Mobile & Online Remittance
- Integration With Other Banks and MTOs
- Value-Added Services
- Software Platform
- Pricing Models
- System Security & Disaster Recovery
- Business Continuity
FAQ: Integration With Other Banks and MTOs
What is the integration cost between my RemitONE platform and another RemitONE client?
We charge a nominal one-off fee of GBP 500 to connect your RemitONE platform with any other RemitONE platform on the planet!
How can RemitONE platform integrate with my correspondent entity (if the bank is not a RemitONE client)?
There are a number of ways through which your correspondent entity can accept and payout transactions.
RemitONE Payout Interface: Your correspondent entity can simply access your white labelled RemitONE system to pay out transactions. All they need is a browser and access to Internet. This is the simplest and most cost effective approach for you and the correspondent entity
FTP integration: This is an older communication method, but still used by a large number of players in our money transfer industry. It involves the exchange of formatted CSV files over an FTP location, with a pre-defined protocol and file structure. This protocol and file structure can differ between correspondent entities. There is normally a slight delay in the processing of files. Also, the number of functions available is normally limited to transaction exchange: new transactions, processed transactions and cancellations.
Simply put, RemitONE system will push file with all the relevant transactional data onto an FTP server. The correspondent entity will pull that file, pay out transactions, and push an updated transactional file back on to the FTP server. The RemitONE system will then pull the new file from the FTP server and update its records.
API integration: This is the modern method and allows for richer functionality. This integration handles not just transaction flows but also real-time queries for rates and charges, as well as routing information. All calls are instantaneous without delay. There is no need to maintain an interchange FTP server for storing the data files. Each correspondent entity will likely have an API, so again either the other correspondent entity uses the RemitONE API or the RemitONE system will need to develop a module to utilise the correspondent entity’s API.
Does the RemitONE platform integrate with other MTOs and correspondent banks that are not on the RemitONE platform?
We integrate with a number of MTOs and banks that are not on the RemitONE platform. If you are using the RemitONE platform, you can gain access to all these valuable integrations we have in place. For a nominal, one off fee of £500, we can connect your RemitONE platform with any of our list of correspondent entities worldwide. To get a list of the integrations we have in place, please contact us.
I have an established money transfer business. Can I connect with international delivery networks of large banks or MTOs if I use RemitONE?
Yes you can. RemitONE platforms integrate with top-tier banks and leading MTOs with vast delivery networks worldwide. With our RemitONE Connections, you are able to tap into new markets immediately without incurring unnecessary overhead costs and having to allocate vital resources. When you sign up to any of our money transfer products, you can choose from the banks and MTOs we work with and we can connect you to them. If you are an MTO start-up, you can benefit by gaining quick access to a large delivery network.
Contact us for more information on the MSBs we work with.
What Others Say
As an established leader in remittance in the Caribbean, JMMB went through a rigorous evaluation to modernise our remittance platform. After a successful pilot confirmed the selection of RemitONE, a detailed migration of the existing services and data was completed. The strong functionality of the RemitONE platform allowed JMMB to implement with minimal customisation and the regular updates to the platform continue to add value to our business.
Ernest Edwards, Manager - Group IT Projects
Every successful business needs reliable technology. Within a very short span of time, Daytona Capital Management has risen to provide money transfer services to over 30 countries. This could not have been possible without the support and ‘technological backbone’ provided to us by RemitONE.
Mr Sohail Nizami, Executive Director
Daytona Capital Management, UK
The speed with which RemitONE were able to deliver an advanced money transfer management solution with bespoke features we requested is amazing. We deal with many agents using different remittance systems sending us transaction information in various formats. RemitONE MTMS has helped us overcome this issue and has allowed us to penetrate new markets and manage remittance data in an automated manner.
Sohrab Mustafa, SVP & Head of ID
United Commercial Bank