Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories



Samish Kumar, CEO of Transfast, a leading omni-channel provider of multi-currency cross-border payments solutions to consumers and businesses around the world, recently addressed consultants at a management consulting firm in New York, where he outlined expansion plans that include growing market share for remittances to India, boosting mobile and online transactions and focusing on cross-border business payments.

Speaking to consultants at global management consulting firm Oliver Wyman, Kumar said Transfast is scaling up its operations across India, encouraged by the continued strength of inward remittances, which topped $70 billion in 2015 and is expected to see continued strength in 2016. With the company’s strong base in the U.S., head start in online funds transfers, and network in more than 120 countries, it is well equipped to handle increased remittances to India, he said.

“Over the next few years, we’re looking to grow our leadership position in the Indian market,” Kumar said.

He cited the company’s success in the world’s third-largest remittance-receiving market, the Philippines, as a model to replicate in India. In the Philippines, the company is one of the top three players, and offers a mobile and online service that was recognized by the World Bank in 2015 as the lowest-cost remittance for sending $200.

In India, in addition to high committed exchange rates, multiple funding and payout options and in-house customer service operations, Transfast has 45,000 cash pick-up locations. Cash and bank deposits arrive either instantly or within 24 hours.

Kumar said the company’s mobile apps for iOS and Android will be key drivers of growth.

“We’re expecting mobile transfers to continue to gain share,” he said. “And we’ll be leveraging our competitive advantage of being the first and only company to offer instant transfers for both cash pick-up and bank deposit, 24 hours a day, every day of the year.”

Kumar said he feels great confidence moving into 2016, adding, “Transfast will continue to provide innovative and cost-effective solutions that make us the smarter way for getting money from Point A to B, anywhere in the world.”

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post