FSS InstaRemit is a fast, secure and reliable state-of-the-art technology platform for providing international person to person money transfer services to a financial institution and its customers. It is a complete remittance framework which offers beneficiary registration, remittance and fund disbursement.
The system provides various funding options to customers like direct debit, fund transfer system, card and cash to perform remittance transactions. Also enables use of self-service and automated electronic payment channels to register beneficiaries and initiate remittances.
- Offers multiple touch points for initiating the transaction
- Supports all kinds of payment instruments (Cash/Card/Account)
- Provides automated AMC / OFAC filters and reporting
- Sends e-mail and SMS alerts to participating entities
- Supports multilingual and multi-currency features
- Provides tracking and feedback facility to all participating stakeholders
- Offers transaction authorization facility to acquiring and beneficiary end
- MIS reporting
- Fee income earned through 24×7 remittance compared to expensive branch operations
- Provides up-sell and cross-sell facilities
- Enhance internal operational efficiencies and service levels
- Increase customer retention with low cost fulfillment to the beneficiary
- Man power savings to banks due to fully automated operations