TPS - Making Transactions Happen
Remittance is a big part of some countries? cash inflow and a major source of income for thousands of families. Overseas residents contribute significantly that help both their families as well as government and have remitted as much as $55 Billion in last few years. Through legal channels, primarily banking institutions, remittance can be processed rapidly and made accessible to the people.
   Solution   Features
MONETA empowers banks and financial institutions to offer Electronic Payment of International Remittance to their customers. Moneta is a scalable, high-volume and proven remittance processing system which provides end-to-end processing of home remittances on near real time basis. It seamlessly bridges exchange houses (remitting entities) and the corresponding bank. Customers can choose from various transaction types available for remittances:
  • Cash to Cash
  • Cash to Own Bank Account
  • Cash to Other Bank Account
  • Cash to M-Wallet
Moneta provides an automated mechanism to facilitate the inflow of Home Remittances from authorized Exchange companies after going through the process of transaction capturing, cleansing, AML verification and finally making the remittance available to beneficiaries via different mechanism including Cash-over-the-counter, Transfer to bank account, Straight to account, Transfer to other bank account using IBFT and others. Transactions are realized at real time as well as in batches depending upon the capabilities of the existing interfaces.

Moneta has been indigenously designed, developed, tested and successfully implemented across many institutions allowing for extremely quick and reliable processing and disbursement of remittance through various channels. The channels for disbursement currently supported are OTC, IBFT, transfer to beneficiary account, transfer to M-Wallet account, pay orders and RTGS.

  • Completely web based backoffice and front end
  • Multiple transaction types
  • Multiple modes of initiation(files, web services, screens)
  • Multiple modes of disbursment
  • Automatic and Manual Cleansing options
  • AML compliance checking
  • Compliance with PRI requirements
  • Straight Through Processing
  • Dual authorizations on key operations
  • Dispute Managemenet
  • SMS and Email Alerts
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