Cross-Border Remittance Platform
Leading product strategy for a revolutionary cross-border remittance platform that empowers African and Asian immigrants to send money home at the lowest cost possible.
Immigrants faced high fees, poor exchange rates, and complex processes when sending money home. Traditional remittance services charged up to 10% in fees and offered unfavorable exchange rates, making it expensive for families to receive financial support.
Developed a comprehensive fintech platform that leverages partnerships with local banks and payment processors to offer competitive rates and low fees. Implemented a user-friendly mobile-first design with real-time exchange rates, transparent pricing, and multiple payout options.
Key Features
Real-time exchange rate calculator
Multiple payout options (bank transfer, mobile money, cash pickup)
Transparent fee structure with no hidden charges
Multi-currency wallet support
Compliance with international regulations
24/7 customer support in multiple languages
Results & Impact
Reduced average transaction fees by 70% compared to traditional services
Achieved 95% customer satisfaction rating
Processed over $2M in transactions within first 6 months
Expanded to 15+ countries across Africa and Asia
Technologies Used
Key Lessons Learned
Regulatory compliance is crucial in fintech - early engagement with regulators saved months of delays
User trust is paramount - transparent pricing and reliable service build long-term relationships
Local partnerships are essential for global expansion - working with local banks accelerated market entry