NEXT-GEN TECHNOLOGY 

Cross-Border Remittance Switch (RIG-CRS)

The Cross-Border Remittance Switch (RIG-CRS) is a robust and scalable platform that facilitates the efficient transfer of funds between countries. It connects multiple financial institutions, payment service providers, and digital wallets, enabling seamless international transactions.


Key Features of Our Cross-Border Remittance Switch

  • Real-Time Transaction Processing: Enjoy instant money transfers across borders, ensuring that funds reach the recipient without delays.
  • Multi-Currency Support: CRS supports a wide range of currencies, allowing smooth transactions regardless of the currencies involved.
  • High-Level Security: Implemented with advanced encryption protocols, our CRS ensures that every transaction is protected against fraud and unauthorized access.
  • Scalability: The switch can handle high transaction volumes, making it ideal for financial institutions of any size, from small remittance companies to large multinational banks.
  • Compliance Ready: Fully compliant with international financial regulations, including AML (Anti-Money Laundering) and KYC (Know Your Customer) standards.
  • Customizable Integration: CRS can be easily integrated with existing financial systems and customized to meet the unique needs of your business.
  • Cost-Efficient: Reduce the cost of cross-border transactions with our optimized routing and processing mechanisms.


How Does RIG-CRS Work?

Our Cross-Border Remittance Switch operates as a central hub that connects various financial entities involved in international transactions. Here's how it works:

  1. Initiation: The sender initiates a remittance through a bank, payment service provider, or digital wallet integrated with RIG-CRS.
  2. Routing: RIG-CRS identifies the most efficient route for the transaction, ensuring compliance with local regulations and minimizing costs.
  3. Conversion: If needed, the switch converts the funds into the recipient’s local currency using real-time exchange rates.
  4. Delivery: The funds are delivered to the recipient's bank account, digital wallet, or picked up at a designated location, all in real-time.

Finaara's

RIG Modules

Finaara's RIG Switch the next-generation software switch for handling UPI transactions, DBU/ATM/Bank on Wheels transactions, money remittance transactions, and money changing transactions is a comprehensive and ambitious.

UPI SWITCH

Unified Payments Interface Switch

DBU SWitch

Digital Banking Switch

Bank/MSB CRM

 Banking & MSB CRM

currency management

 Currency, Cassette and Denomination

Reconciliation

 Bank. MSB and Customer Reconciliation

Multicurrency

 Multi-Currency Management

Money exchnage

 Money Changing or Exchange Switch

Remittance

 Money remittance Switch for MSB

Finaara Product & Solutions

‌RIG (Regulating Interface Gateway) Switch for Banks and Money Service Businesses (MSBs) that enables centralized and interoperable transaction technologies.

AVRM & AVRM PRO

AVRM (Automated Verifiable Remittance and Money exchange) and AVRM Pro are advanced solutions by Finaara aimed at enhancing the efficiency and security of ATM transactions, remittance, and money exchange processes, eliminating the need for intermediaries.

Digital Banking Unit

DigDigital Banking Unit (DBU) with more than 35 banking and Money Service Business (MSB) use cases, including capabilities for remittance, forex, and interoperable deposit and withdrawal, is a robust and versatile financial solution.

Bank On Wheels

Remotely operable Bank On Wheels or mobile banking solution is designed to bring comprehensive banking services to various locations, especially underserved or rural areas with most of all banking solution including money transfer and Exchange.

Android ATM

An Android-based ATM and Android-based Digital Banking Unit (DBU) that enable interoperable deposit and withdrawal are innovative solutions designed to provide flexible and user-friendly banking services.

ATM SWITCH

Ensure all devices (ATM, DBU, AVRM, Bank on Wheels) use     secure communication protocols. Based on ISO 8583 for financial  transaction originated messages.


Forex Switch

National Forex Switch to connect all Money Service Businesses (MSBs) or a Centralized Forex or Money Exchange Network is a platform designed to streamline and manage currency exchange transactions efficiently and securely.

Remittance Switch

National Remittance Switch or Centralized Remittance Network designed as an edge-based platform aims to enhance the efficiency and security of remittance transactions.

ERP Solutions

ERP solution for Money Exchange and Remittance that includes modules such as HRM, CRM, Inventory Management, and Dynamic Compliance is a powerful platform designed to integrate and optimize various business operations.