“For centuries, people have left home and crossed countries, continents and oceans in search of better opportunities for themselves and their families. Today, more than 240 million people live outside their countries of birth. This expanding global community, much in the front news today, will send home USD 450 Billion each year to support families and will pay a high price to do so, or be forced to use unregulated informal channels putting their hard earned cash at risk. I will be delighted if my role helps these people retain more value and enjoy more security when sending money home”, said Prince Michael on this occasion.
London-based RemitRadar provides the technology that ensures maximum transparency and easy comparison among remittance options. Part of the service is a free, real-time online remittance auction for consumers, allowing service providers to bid against unfair remittance prices and secure the customer’s business.
“Constant price monitoring through the lens of the auction model allows customers to enjoy savings of up to 35% when sending money abroad compared to conventional money transfer methods”, explained Denis Kochubey, the CEO co-founder of RemitRadar.
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