World Remit builds bridges to SEA with FinFan partnership

Southeast Asia continues to captivate fintech enterprises with its vibrant and enterprising youth demographic, positioning itself as an enticing boundary for innovation. WorldRemit, a believer in Southeast Asia's boundless possibilities, desires to foster connections with this dynamic region at every opportunity.

WorldRemit's unwavering commitment to Southeast Asia's dreams is exemplified by its strategic partnership with FinFan, aimed at facilitating entry into the Vietnamese market. This market recently ranked second only to Singapore in attracting substantial investments for startups during the second quarter of 2023, showcasing immense potential within the region.

World Remit - a UK-based startup dedicated to delivering a speedy, adaptable, and highly secure money transfer solutions

World Remit’s vision

WorldRemit's journey commenced with the visionary idea of Ismail Ahmed, a young student embarking on his university education in the UK in 1980. His aspiration was simple yet profound to establish a more convenient, cost-effective and express method for sending money to his family in East Africa.

In the year 2010, fueled by the determination to effect change within an industry that serves millions facing circumstances like his own, Ismail embarked on a transformation. His vision, deeply rooted in the desire to empower individuals like himself to enhance the quality of life for their loved ones, has since become the very essence of WorldRemit.

Throughout the journey, WorldRemit has played an instrumental role in facilitating access to education for millions of children and providing crucial medical treatment to thousands of individuals. On a weekly basis, they assist tens of thousands of people to pay their bills.

How does Worldremit achieve it?

In response to Ismael's aspiration, he and his associates established World Remit, introducing an array of exceptional features designed to facilitate seamless remittance transactions for both senders and recipients through a user-friendly computer or mobile app interface.

Over the past decade, the company has witnessed remarkable growth, now catering to a vast clientele of 5.7 million individuals spread across 130 countries, transacting in 70 different currencies. World Remit offers a diverse range of transfer options, including bank transfers, mobile money, and cash pickup, making the process of sending funds from abroad to loved ones highly convenient.

Notably, an outstanding technological achievement World Remit achieved is the lightning-fast processing of 95% of their transfers, effectively addressing the historical challenge of slow remittance transfers that challenged customers using traditional methods.

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How to send money from the UK to Vietnam?

World Remit's aspiration to dominate the Southeast Asian market.

Given most of Ismael's international friends hail from Asia, particularly Southeast Asia, Ismael recognizes the potential of these regions.

In addition, this market is steadily gaining global significance, aligning with the evolving trends in the world economy towards these emerging economies

World Remit and the partnership with FinFan

With a strong desire to penetrate the evolving Southeast Asian market, particularly Vietnam, where considerable remittance rises annually, reaching 19 billion USD by 2022, World Remit has consistently sought opportunities to establish a dependable partnership. Their goal extends beyond conquering the Vietnamese market; it also entails forging a bridge to facilitate payment connections with other high-demand markets across Southeast Asia and the broader East Asia Pacific region, including Singapore, China, Hong Kong, and more.

After a period of seeking, World Remit successfully established a fruitful partnership with FinFan, a relationship that has thrived for over six years

About FinFan

FinFan, a leading Cross-Border Money Movement Platform, empowers service providers to rapidly expand their reach into previously unreached markets, offering a comprehensive suite of remittance and payment services. Notably, FinFan holds the distinction of being the first non-bank financial institution licensed to operate in Vietnam. Since its establishment in 2007, the company has experienced remarkable growth, ascending to the Top 1 money transfer company in the country.

Over the course of 13 years, FinFan has diversified its offerings, evolving its portfolio with an array of services such as international money transfers, payment processing, bill payment services, and more. Impressively, the company has been authorized to facilitate disbursements into e-wallets as an Aggregator, streamlining the process by integrating multiple e-wallets into a single API.

For more information, please visit https://finfan.io and follow our LinkedIn page.