THE ELECTRONIC CONTROLLER OF REMITTANCE TRANSACTIONS
The X-STREAM platform meets the critical need for traceability and visibility in the money transfer ecosystem of a given country. It leverages cutting-edge Cloud technologies to bring back the control of the remittance market to the governments and central banks. By making all transactions traceable, the platform allows for the centralized control and management of the data related to such transactions.
X-STREAM helps harness the financial potential of the remittance sector by accurately measuring the remittance inflows and outflows, based on real-time data collection, which enables the authorities to monitor and enforce the compliance and security of registered channels. The platform also efficiently detects cases of under-declaration on the part of both users and RSPs and provides reliable statistics and analytics to better inform the policymaking process related to remittances. Furthermore, it incorporates a powerful regulatory component allowing for the systematic application of Anti-Money Laundering Rules (AML) as defined by the country’s authorities.
BENEFITS AND CHARACTERISTICS OF X-STREAM:
- → Provides full visibility over remittance transactions
- → Verifies and authenticates remittance transactions
- → Provides detailed and reliable remittance statistics
- → Provides valuable market and business intelligence to better inform the policy-making process related to the money transfer industry
- → Has the capacity to leverage remittances as a sustainable source of innovative funding for government projects and budget needs