Episode 6: RaaS Explained – How Banks and Fintechs Can Expand Cross-Border Without Licensing
This year, something has shifted. Banks and large fintechs are no longer asking if they should expand cross-border—they’re asking how to do it faster? Reduce regulatory friction? Avoid locking yourself into multi-year commitments?
Some regions like the UK are looking to introduce a fast-track licensing regime, which offers provisional approval for up to 18 months until full authorisation is processed. While it’s a positive step, it’s only available for small fintechs and doesn’t remove the complexity that comes with entering new markets.
That’s why more money service businesses are turning to RaaS (Remittance as a Service) and in this episode we’ll be diving into how it can unlock new revenue and growth.
You’ll discover:
- Why adoption is accelerating – what’s changed, and why banks are reassessing their cross-border strategy now
- What onboarding really looks like – from qualification to integration and going live.
- New revenue opportunities – how to test corridors, capture more value, and grow without being constrained by provisional licences
- Choosing the right RaaS partner – the criteria that matter most when assessing flexibility, compliance, and long-term fit
Tune into the full episode
What the UK’s Fast-Track Licence Means for Fintechs Expanding Cross-Border
Expansion is a present-day requirement for banks and fintechs, but the routes to market are not one-size-fits-all.
Fast-track or provisional licences can offer a direct path into new corridors, yet they come with operational demands, regulatory ownership, and long-term obligations that may not suit every business model. At the same time, alternative approaches to expansion are gaining attention.
We’ll compare fast-track licensing and Remittance-as-a-Service (RaaS) so you can be more confident in choosing the option best suited to your needs and goals.
Why RaaS is Gaining Momentum
RaaS has been gaining more of an uptake by banks and fintechs because it allows them to:
- Grow new revenue: capture customers rapidly on the send side without losing time to regulatory delays
- Move faster to market: start offering cross-border services immediately, without waiting for provisional or full licences.
- Reduce internal strain: compliance, onboarding, and transaction flows are handled by the RaaS provider, freeing internal teams to focus on strategy and growth.
- Test and scale strategically: test new corridors without committing to long-term infrastructure or licensing obligations.
RaaS vs Fast-Track Licensing
The UK’s provisional licence is designed to help early stage fintechs get to market sooner, but it comes with limits:
- Time-bound operations (up to 18 months)
- Internal compliance and operational demands still remain
- Limited flexibility to test new markets or scale quickly
RaaS complements and even accelerates this process. In short, it gives you options and flexibility that a provisional licence alone cannot provide.
What This Means for Your Money Service Business (MSB)
For banks and fintechs looking to grow cross-border without unnecessary risk or delay, RaaS offers a practical path forward:
- Unlock revenue from existing customers more efficiently
- Free internal teams from operational bottlenecks
- Expand strategically while staying fully compliant
- Test new markets before committing long-term
Choosing the Right RaaS Provider
Not all RaaS providers are created equal, and the right partner can make a real difference to your speed, compliance, and strategic flexibility. When evaluating options, you should consider:
- Regulatory coverage: Ensure the provider understands your key markets and can manage compliance requirements across multiple jurisdictions.
- Platform maturity: Look for a solution that’s proven, reliable, and capable of handling the scale and complexity of your operations.
- Operational support: A strong provider will manage onboarding, transaction flows, and reporting, reducing internal strain.
- Value-added services: eSIMs, airtime, open banking are just some examples of how you can generate more revenue around the transaction whilst providing more benefits to your customer.
- Long-term partnership mindset: Beyond technology, the best providers work with you strategically, helping you test, scale, and optimise your cross-border operations.
At RemitONE, we’ve built our RaaS solution with these principles in mind. It’s designed to help banks and fintechs move quickly into new markets while keeping compliance front of mind, simplifying onboarding, and providing full transparency across transactions.
More than just a solution, you gain a partner who understands both the operational and strategic challenges, helping you navigate complexity with confidence.
Our RaaS is available for sending markets across the UK, Europe, and the US.
Next Steps
The remittance market is moving fast, and the right approach can help you enter new corridors with speed and confidence.
If you’d like to explore how RaaS could fit with your growth plans, book a free call with our team.
Update: Integrated PEP & Sanctions Lookup Checks
From 1 March 2026, we will introduce an integrated screening service that covers both sanctions and PEPs lookup checks for each transaction on the beneficiary and sender.
Sanctions and Politically Exposed Persons (PEPs) screening is a regulatory requirement across both sending and receiving markets. In the UK, this is mandated by the FCA, with similar obligations enforced by regulators globally. These checks must be completed on a transaction-by-transaction basis to ensure ongoing compliance.
Our platform already supports sanctions screening and is routinely reviewed by regulators across multiple jurisdictions. Building on this foundation, we are now extending to include PEP checks, enabling full sanctions and PEP screening to be completed seamlessly in one place.
This enhancement reflects our ongoing commitment to maintaining a robust, regulator-aligned compliance framework that our clients can rely on as they scale across corridors and markets. By centralising these checks within our platform, we help ensure consistency, reduce operational friction, and support confident regulatory engagement with regulators and partners.
PEPs and sanctions screening is a mandatory requirement and must be applied on a transaction-by-transaction basis. If you are reviewing your current setup or evaluating providers, contact us to understand how integrated screening is delivered within our platform at marketing@remitone.com
The Next Step for African Central Banks: Technology-Enabled Compliance Solutions
Across Africa, central banks are under increasing pressure to improve transparency and oversight in cross-border payments. As digital transactions grow, the need for real-time monitoring and reliable compliance tools has never been greater.
Common Challenges Regulators Face
Many regulators share similar problems:
- Limited visibility of FX rates applied by Money Transfer Operators
- Difficulty tracking USD and EUR inflows into the banking system
- Risks of structuring and smurfing in remittances
- Uncertainty around governing crypto-assets and stablecoins
- Pressure to adopt AI responsibly
- Balancing financial inclusion with strong compliance
The Solution: Introducing Regulatory Compliance Manager
Many central banks are now turning to technology to tackle these growing challenges. That’s why we at RemitONE developed our Regulatory Compliance Manager (RCOM™), empowering regulators and central banks to:
- Gain instant visibility of cross-border money movements and FX rates.
- Automate oversight with configurable compliance rules.
- Access actionable intelligence through advanced reporting and analytics.
With RCOM™, regulators can make proactive, data-driven decisions — turning compliance into a strategic advantage.
Those who move first are already seeing results. Find out how our solution can increase visibility for your central bank by booking a free call with Ababacar Seck, our Managing Director in Africa.
Upcoming Webinar: AI in Cross-Border Payments – Winning Customer Loyalty and Cutting Fraud
Only 16% of cross-border payment customers stay loyal to the same provider.
That means most are just one bad experience away from switching, often due to slow transfers, fraud scares, or compliance headaches.
In this 30-minute RemitONE webinar, you’ll explore how AI is transforming cross-border payments by helping you tackle these challenges head-on.
You’ll discover how to:
💡 Use AI to retain customers and personalise payment experiences
🛡️ Detect and prevent fraud without slowing transactions
⚙️ Apply practical AI frameworks to boost compliance and efficiency
Plus, catch a live demo of our AI-powered loyalty use case in action.
📅 Tuesday 11 November 2025
🕒 15:00–15:30 GMT
Bring your questions, we’ll be answering them live!
Secure your seat now, as spaces are limited: https://events.teams.microsoft.com/event/3acd679a-a6a8-4182-9388-09b9403ff629@36d5614f-f651-4945-9632-7053acdae73a
Meet RemitONE at Singapore Fintech Festival to Explore AI-Driven Cross-Border Payment Solutions
We’re heading to the Singapore Fintech Festival, 12th – 14th November, to connect with businesses looking to scale. Oussama Kseibati, Head of Business Solutions, will be at the event to explore cross-border payment opportunities with our AI, open banking and blockchain solutions.
Whether you’re expanding into sending markets like the UK and Europe, paying out in asian markets, or navigating complex compliance demands, our innovative solutions can help fuel your growth and unlock new revenue streams
We provide the building blocks to future-proof your operations, even if cross-border payments aren’t your core offering, with solutions such as:
- White-label Money Transfer Software (online and app)
- RaaS (Remittance-as-a-Service) and AI-driven automation
- Automated KYC/AML
- Scalable payout infrastructure to new send and payout markets
- AI-driven payment optimisation
To arrange a place and time, please email us at: marketing@remitone.com
About RemitONE
RemitONE is an award-winning, leading provider of money transfer software solutions for banks, telcos, and money transfer operators (MTOs) worldwide. With multi-channel access, including agent networks, online, and mobile, RemitONE empowers organisations to streamline and scale their remittance operations.
Expand Your Money Service Business in Europe without Local Licences or Bank Setup
Most Banks and Money Transfer Operators (MTOs) that handle payouts rely on international partners to send them transactions. But what if you could manage both sides of the corridor and keep more margin?
Watch the short video to find out how:
Oussama breaks down how our Remittance-as-a-Service model lets you:
- Launch send operations from the UK and Europe in weeks
- Avoid waiting months for licences or bank approvals
- Get a white-labelled app and website
- Tap into ~€130B in remittances sent from Europe and ~£20B from the UK alone
Looking to grow across borders without the heavy costs? This could be the missing piece to help you do that.
Book a free call with our expert Oussama to explore how this can work for your business:
Introducing The IPR Podcast: Talking Innovation in Payments & Remittances
We’re excited to announce the launch of The IPR Podcast, a brand-new series dedicated to bold conversations happening in cross-border payments.
Hosted by Aamer Abedi, this podcast is built for fintech leaders, money transfer operators, banks, and anyone shaping the future of financial services. Each episode features conversations with industry experts on the trends and technologies changing the game — and what they really mean for your business.
You’ll hear stories from the frontlines, discover new ideas, and walk away with strategies you can put into action.
Episode 1: Trump’s Tariffs — What Could They Mean for Your Business?
Next week, we kick off with a timely deep dive into proposed remittance tariffs in the US and how they could affect:
- Why certain corridors could become unprofitable
- How rising costs may affect customer loyalty
- What MTOs can do now to adapt and stay competitive
Subscribe now and be the first to tune in.
Spotify: https://open.spotify.com/episode/7tZYluLixpm6MhwbLQxjzL?si=rqhOGDoHRmuHdFJZUJatZA
Youtube: https://www.youtube.com/playlist?list=PLLqIwD4TK69h8higA91Ba9a1o1GU3sH2c
Apple Podcasts: https://podcasts.apple.com/us/podcast/welcome-to-the-ipr-podcast-talking-innovation-in/id1822769031?i=1000714502161
Be Part of the Conversation
Got thoughts, questions, or ideas for future episodes? We’d love to hear from you, email us at: marketing@ipr-events.com
Want to be a guest?
We’re looking for people shaping the future of payments and remittances. If you’ve got insights or experiences worth sharing, reach out to us at: marketing@ipr-events.com
How to Build a Leaner, Smarter Money Service Business in 2025
In an era of rapid regulatory change, rising customer expectations, and digital disruption, how can money service businesses (MSBs)—companies that facilitate the transfer, exchange, or payment of money—not only survive but thrive?
In our recent webinar, we gathered our top experts and unpacked the most pressing challenges facing MSBs today and shared proven strategies to help you scale, streamline compliance, and embrace innovation.
Here are the top takeaways:
1. Scale Smarter with our All-in-one Hub
A major pain point for MSBs is integrating with multiple systems and partners from send and payout providers to value-add services like ID verification platforms, open banking tools, and payment gateways.
RemitONE Hub™ solves this by offering two flexible options: connect via a single API or use our ready-made interface. Either way, you gain instant access to a global network of payment companies with the likes of Visa, Mastercard, Orange, MoneyGram, and many more.
With access to over 2.5 billion bank accounts and 3 billion wallets, the RemitONE Hub™ gives you the tools to scale without stress. You stay in control of your payouts, partner terms, and operations—all from one place.
We’ll help match you with the right partners based on your target corridors and budget to help meet your goals. What normally takes years, we help you achieve it in a few months.
2. Shortcut to Launch into New Corridors
Expanding to new corridors can feel like a maze of licences, banks, and paperwork. But it doesn’t have to be that way.
With our Remittance-as-a-Service (RaaS), you can plug into our network of licensed partners across the UK, EU—and soon, the US and Canada. That means you can go live faster, spend less upfront, and stay fully compliant—without going it alone
3. Stay Compliant with Compliance Manager™ (COM)
Compliance and fraud prevention remain top priorities for MSBs. Our Compliance Manager™ (COM) automates 80% of those repetitive manual checks, runs real-time KYC/AML screening across 350+ global sanctions lists, and helps you monitor risk scores, transaction patterns, and suspicious activity.
And it’s not just for MSBs. For central banks and regulators, COM offers live visibility into incoming and outgoing remittance flows—making it easier to track volumes accurately and close those reporting gaps.
In short? You stay compliant, catch fraud early, and get to focus on growing your business.
4. Reduce Costs and Settlement Delays with Open Banking
We know how frustrating slow settlements and high fees can be—especially when you’re trying to keep things efficient. That’s why we support open banking. You can tap into direct bank-to-bank payments, which means faster processing times, fewer card-related fees, and reduced friction that often comes with traditional payment methods. We’ve already rolled this out across the UK and Europe through our partners, and it’s making a real difference.
Even in countries without open banking, we provide alternative integrations with local processors.
5. Offer Multifunctional Wallets for the Future of Finance
Let’s be honest—digital wallets aren’t optional anymore. They’re a core part of how people move money today, and we’re making sure our clients are ready for that shift.
We support everything from peer-to-peer transfers, bill payments, airtime top-ups, prepaid cards, and wallet-to-wallet transactions. Whether your customers are paying for groceries, sending money to family, or topping up Netflix—we’ve got it covered.
We’ve also made sure our wallets connect to telcos, banks, and blockchain partners all with compliance built in from the get-go.
It’s all part of how we’re helping MSBs stay relevant, inclusive, and ready for whatever comes next.
6. Leverage a Flexible Platform Built for Growth
One recurring theme throughout the webinar: flexibility is key. Whether you’re a startup finding your footing, a licensed MTO looking to scale, a send or payout partner, a central bank, or a sub-account issuer like an e-money institution, your needs will keep evolving. That’s why we’ve built our platform to move with you. Our white-label solution adapts to your regulatory landscape, your operations, and your goals—without locking you into one way of working.
Because here’s the thing: if your platform isn’t flexible, you can’t adapt. And if you can’t adapt, you’ll get stuck—while your competitors sprint ahead.
Worse still, you’ll waste valuable time patching together workarounds instead of moving forward. We’ve seen it too many times, which is why we’ve made it our mission to keep things open, partner-friendly, and ready for what’s next.
Real growth happens when your platform moves with you—not against you.
Ready to Future-Proof Your Business?
The remittance and payments landscape is shifting fast, and the businesses that thrive are the ones that stay agile, compliant, and connected.
At RemitONE, we’re not just building software. We’re helping MSBs grow smarter, launch faster, and operate with confidence, no matter where you’re headed next.
If any of these challenges sound familiar, or if you’re curious about what’s possible with the right tech and support behind you, we’d love to talk.
Book a free consultation call with our expert consultant or drop us an email for any questions at: sales@remitone.com
Trump’s Threats to Cross-Border Payments: What It Means for Your Business
It’s been a short while since Trump stormed back into office, and he’s already shaken things up with his hard-hitting policies—and, as always, he’s not one to shy away from bold and upfront decisions. But with every action comes a ripple effect, and in the world of cross-border payments, those ripples are turning into shockwaves. From proposed remittance taxes to intensified compliance risks, Trump’s latest moves are shaking up how money flows in and out of America.
So, what does this mean for businesses, migrants, and economies relying on these payments? Let’s find out.
- Will Deportations of Migrants Impact Remittances? Here’s What the Data Says
Mexicans, a huge diaspora, and one of the major remittances senders in the US, but we may see stricter immigration policies putting this financial lifeline at risk. The “Remain in Mexico” program has already led to nearly 11,000 migrants being sent back, potentially reducing the number of workers in the U.S. and, with them, the flow of cross-border payments. Since Trump’s arrival, 23,000 arrests have been made and 18,000 deportations, whilst it has risen significantly compared to the Biden administration it still remains lower than the peak levels seen during the early crackdown of Trump’s first term.
So, what does this tell us? When Trump first took office, deportations surged as part of his hardline immigration stance. But over time, the wave slowed down. Now, despite his promise to deport 11 million people, the sheer complexity of the process appears to make that goal unlikely. In fact, this could even open a window for some undocumented migrants to secure legal status. But let’s say, hypothetically, mass deportations would happen—would remittances take a massive hit? Not necessarily. Many undocumented migrants are low-value remitters, meaning their contributions wouldn’t cause a drastic drop. What would shake remittance flows, though, is something much bigger: a tax on remittances.
- Will a Remittance Tax on US-Latin America Transfers Disrupt the Market?
The proposed 10% remittance tax from the US to Latin American regions is an effort to minimise illegal immigration but can cause a significant dent on transactions, impacting money transfer operators, banks, and other players in the payments ecosystem by reducing revenue and lowering demand in certain corridors.
For countries like Mexico, El Salvador, and Haiti—where remittances inject nearly $150 billion annually, this could be a devastating blow. Families who depend on these funds risk losing critical income, putting entire economies under strain.
If implemented, Money Service Businesses (MSBs) may have no choice but to raise fees, potentially driving customers toward alternative solutions like digital wallets and crypto. Interestingly, Trump seems to support crypto, so could this be the turning point that finally makes it more secure and mainstream?
- Trump and Stablecoins: A Game-Changer for Cross-Border Payments?
There’s hope on the horizon—Trump’s pro-stablecoin stance could be the catalyst to reshape cross-border payments. While Trump has halted any action to progress America’s CBDC, he’s taken more steps to advance the crypto movement. In a tweet, he unveiled the U.S. Crypto Strategic Reserve, which will include XRP, SOL, and ADA, with Bitcoin (BTC), Ethereum (ETH), and other key cryptocurrencies that will be added to “the heart of the Reserve.” Since the announcement, the value of the first three coins surged by 62%, while BTC and ETH have climbed up by 10%. This momentum is pushing forward Trump’s goal of making the U.S. the “crypto capital of the world.”
Two posts by Donald Trump on Sunday, March 3, 2025, on his Truth Social account.
So, what does this mean for remittances? Stablecoins offer faster, cheaper, and more accessibility, eliminating high fees and long processing times, making this a more attractive alternative to existing transfer methods to senders.
Of course, regulation follows. Trump’s administration has called for a federal regulatory framework for digital assets to bring clarity. If well executed, this could boost financial inclusion and drive crypto adoption, but if it becomes too strict, it can do the opposite, where it stifles innovation and progression.
- Crypto in Crisis: What’s shaking the market?
The cryptocurrency market took a plunge over the weekend, and while crypto is no stranger to volatility, this time the drop wasn’t just about digital assets—it was about politics, economics, and the shifting global financial landscape.
A major trigger was the Trump administration’s new tariff hikes on imports from Mexico and Canada, which sent investors retreating from risky assets like Bitcoin, creating a domino effect across the sector. Then there was the regulatory uncertainty. The U.S. government’s new restrictions on crypto exchanges and stablecoins fuelled distrust, prompting even more selloffs. On top of that, fresh inflation data and Trump’s aggressive trade policies led to a reassessment of potential Federal Reserve interest rate cuts, putting even more pressure on risky assets like crypto.
Ironically, part of the turmoil can be traced back to Trump’s own cryptocurrency summit on March 7. The announcement of a strategic bitcoin reserve—a government-controlled stash of digital assets initially caused Bitcoin’s price to drop by 6%. While the move signalled greater government involvement in crypto, it left many investors questioning what that would actually mean in practice. The market’s uncertainty around this policy likely contributed to the larger crash that followed.
- Stricter Compliance: A Roadblock for Remittances?
The designation of cartels as terrorist organisations, combined with tighter immigration policies, is set to intensify compliance pressures on MSBs. They must now exercise even greater due diligence to avoid any unintended links to sanctioned groups.
For migrants, this means longer wait times, extra fees, and fewer options to send money home. If traditional corridors start shutting down, people will have no choice but to look elsewhere, whether that’s the age-old hawala system or the rising use of crypto and stablecoins, a shift that could play right into Trump’s pro-digital currency agenda.
Whereas for giants like Western Union and MoneyGram, who move billions to Latin America, the stakes are high. Stricter AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations will be unavoidable, but for some financial institutions, the risk might be too much. We’ve seen this play out before where banks pulled out of Somalia’s remittance corridors when terrorist groups gained traction, leaving thousands stranded without access to funds. Could Latin America perhaps face the same fate?
Keeping up with ever-changing regulations is more than just a headache—it’s a matter of survival. A single compliance slip-up can trigger heavy fines or, worse, force a business to shut its doors entirely. Yet, many companies still juggle multiple software tools, manually stitching together fragmented systems to stay compliant.
This approach isn’t just inefficient; it’s risky. When regulations shift overnight, you need a solution that evolves with them. That’s why we built an all-in-one platform with compliance at its core. Unlike other providers, we continuously adapt to market trends and regulatory changes, ensuring you aren’t left scrambling when new rules emerge.
Take our Liveness feature for example. With biometric-powered selfie checks, remitters can instantly confirm their identity—cutting fraud risks while keeping regulators satisfied. Plus, through our platform, regulators and central banks can track all inbound and outbound transactions, ensuring total transparency.
It’s this kind of innovation that makes compliance less of a burden and more of a competitive advantage.
So if you want to streamline your operations and power your growth, book a free demo with us and let’s discover how.