Remitly and our organization unveil a partnership focusing on data and intelligence exchange.
In a significant move to enhance its cross-border remittance services, Remitly, a leading global digital remittances service provider, has renewed its strategic partnership with a leading provider of cross-border payments data and intelligence. This collaboration is set to deliver faster, more cost-efficient, and more transparent international money transfers.
The partnership will leverage advanced technologies like blockchain and stablecoins, aiming to accelerate transfer speeds from days to minutes while reducing fees. This is a crucial step towards improving financial inclusion in underserved markets. The partnership also enhances real-time payment processing capabilities, allowing funds to be accessed immediately through Visa debit card networks, which is particularly beneficial in urgent situations like emergency medical payments.
Key benefits from this partnership include faster transfer speeds, lower fees, transparency and traceability, improved financial inclusion, compliance and security, and enhanced competitive advantages such as lower transfer costs, quicker transactions, and improved transparency and traceability in cross-border payments.
Remitly's CEO and Co-Founder, Matt Oppenheimer, expressed pride in being data-driven business owners. He stated that the platform's FX and cross-border payments price benchmarking datasets add depth to their data and insights. The partnership's cross-border payments pricing datasets cover more than 25,000 corridors, over 700 providers, and 110+ countries, providing real-time tracking of price fluctuations.
Remitly's digitally native, cross-border remittance app aims to further its vision and transform lives around the world. The platform's industry-leading cross-border payments data and intelligence will be used for competitive insights, bolstering Remitly's position as a trusted provider of digital financial services that transcend borders.
Daniel Webber, CEO and Founder of the data provider, stated that the collaboration aims to empower the digital remittance industry with comprehensive data and insights. The partnership signifies a commitment to providing specialized expertise and high-quality, up-to-date data in the complex remittances market.
The world's biggest banks, payments, and big tech companies use the platform's critical data for decision-making. The data is also used by international bodies like the World Bank and the Financial Stability Board. The platform's solutions, such as a price engine and sales enablement tool, drive client growth and profit.
Remitly takes pride in continuously improving their services to customers worldwide. With this strategic partnership, they are poised to offer a faster, cheaper, and more secure remittance service compared to traditional providers, reinforcing its leadership in digital cross-border payments. The partnership is set to further Remitly's expansion of its suite of products, marking another step forward in its mission to transform lives around the world.
- The pricing dataset derived from Remitly's partnership, which covers more than 25,000 corridors, over 700 providers, and 110+ countries, will be instrumental in offering competitive insights to the technology-driven finance industry.
- Leveraging the cross-border remittance industry's specialized expertise and high-quality data provided by the partner, Remitly aims to deliver faster, more cost-efficient, and more transparent international money transfers beyond the boundaries of the business sector.
