Universal Securities and Investments / Remit Xpress
Overview
With RemitONE they have:
- Integrated with third-party remittance companies and offered their service in countries where they don't have contacts
- Allowed third-party companies to integrate with Remit Xpress making Remit Xpress's destinations available to third-parties
- Combined accounting
- A true picture of their profit
- Shown their agents only the Remit Xpress branded service
"RemitONE's third party capability has opened up lucrative new business opportunities with some of the largest global money transfer companies who want to use us for their Saudi transactions. We have set up a new division called Remit Xpress to look after these transactions.
The system works the other way around too which gives us even more opportunities. Through the system we can integrate with other money transfer companies to use their contacts in countries where we don't have a presence.
Without RemitONE we would have to become an agent to do this. It would mean maintaining two systems which makes accounting difficult. It's not a service you can pass on to your agents either.
Because integration is done on the server, our agents only see our branded service. They don't know it's going through us or another company.
RemitONE is so flexible we can even decide which system to use for each country. So if a particular company is offering better rates to our home country we can switch at the touch of a button. Our agents don't see any change."
Operations Manager, USI & Remit Xpress
Background
Universal Securities and Investments (USI) is the UK's largest independent issuer of Hajj Drafts and has excellent relationships with Saudi financial institutions. Remittance companies with strong relationships in any one country are attractive to large money transfer companies. They are keen to find ways of sending their transactions to that country via the company with the strong links in place.
Remit Xpress is the new money transfer brand launched by USI to tap in to their strong links to Saudi and elsewhere through integration with third-party companies.
