Remit is a pioneer in the mobile money sector. Our Management Team includes experienced senior management executives, technology teams with expertise in FinTech software development, and marketing professionals. We have formed partnerships with banking institutions in the United States and other countries, and with providers of essential technologies such as stablecoin (stablecoin is a secure form of collateralized cryptocurrency).
We created Remit to help people, worldwide. Remit was created by a group of FinTech pioneers who were experienced in developing mobile transaction technologies and applications. Our team wanted to use their expertise to help people in their home countries by streamlining and lowering the cost of cross-border payments and transfers.
Many migrant workers in industrialized countries send funds home to friends and family members in other countries, who live in communities where banks are not available. Many people in the world do not have access to bank accounts, although most people own mobile phones. We believe that being able to use mobile phones to transfer funds across borders, quickly and at low transaction fees, can benefit thousands of people in many countries.
To fulfill our vision, our team combined several emerging technologies to provide a unique online service that makes money transfers faster and less expensive. Our technology experts integrated the power of cryptocurrencies, blockchain recordkeeping, cloud computing and artificial intelligence to create the Remit platform. We also made Remit inter-operable with other financial services.
Sending money from a Remit account to another Remit account is instant and free which supports the United Nations SDG goal of 2030 (e.g. reducing cost of money transfer down to 3% from current rate of 7 to 10%). We are committed to supporting international initiatives to lower the cost and improve the efficiency of money transfers, and to enable wider use of mobile money and cashless transactions during the current pandemic crisis.