Avanza Solutions’ Monex is an ultimate money exchange platform compliant with Anti Money Laundering (AML) regulation, enabling the UNMoney or Unified Network Company (UNC) to track or monitor the overall remittance processing activities across the countries through comprehensive reporting.
Organizations are adopting innovative methodologies and next-gen digital transformation technologies with evolving digitalization. UNC’s initiative will permit them to regulate and monitor all the connected remittance agents through the administration module. Monex will define the transactional limits for each agent based on the amount as well as the count of remittance transactions while integrating with the International Exchange Houses through the preferred integration methods, either its API or file-based.
Moreover, Monex opens up a wide range of opportunities for:
- Multi-currency and Multilingual
- Flexible & configurable
- currency exchange rates and fee structures
- countries, currencies & limited management
- Pre-defined AML policies across all the remittance transactions
- Enhanced customer experience
- Control over the organization’s pre-defined processes
- Provides interfaces for online integrations with external agents who want to use their remittance application for remittances
Monex improves the experience of remittance and service quality while providing the user a secure, extensive, and manageable 360-degree view of overall operations and information/process transparency.
Likewise, at this signing ceremony, Omer Ahmed Khan, CEO – Avanza Solutions expressed himself by stating that:
“Since we entered the digital era, the digital transformation has enabled industries from core to grow with innovation and cutting edge methodologies. Avanza Solutions empowers organizations from different sectors globally to embrace digital standards and disruptive innovation. Avanza’s Monex is not just a processing system, but a holistic system for remittance that can provide actionable insights and respond to the remittance for all kinds of organizations, small, mid, and large.”
In conclusion, Abdullah Mohammed Awad Al-Busairy – Chairman of the Board of Directors – UNMoney elaborated on this partnership by stating that:
”As the world is adapting to innovation and digital transformation. United Network Company is marching toward digitalization. And with Avanza Solutions’ Monex, which comprises hi-tech methodologies. We are introducing an advanced stage of the remittance system. That will coordinate with current remittance businesses and industry leaders, furnishing them to digitalize financial and technologically.”