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@cinquetechnologies
Our software also offers real-time exchange rates and up-to-the-minute market insight, so you can make the most of your foreign currency transactions. Enjoy the convenience, security, and ease of our Foreign Currency Exchange Software. With its advanced security features, you can ensure the safety of your transactions. Try Symex today and experience the power of the most advanced Foreign Currency Exchange Software in the market!!
Anti-Money Laundering Software
Anti-money laundering software is a catch-all term for programs used in the financial industry and related fields that help companies track strange transactions, and help companies report suspicious transactions correctly. The AML compliance software from Cinque Technologies is a fantastic online tool that will help in the battle against money laundering and help prevent its use to fund terrorism.
Payment Hub
Looking for a reliable payment processing hub? At Cinque Technologies, we provide the best Payment Hub to our clients. We help banks get familiar with these digital payment methods and thus help simplify the central bank's payment system. We function as a central hub for remittance gateways. Visit our website to see how we can enhance your business.
Vat Compliance Software
Sales tax and VAT compliance software helps businesses that deal directly with customers follow the proper local and federal rules and tax rates to collect the right taxes. Cinque Technologies has developed a fantastic VAT compliance software. It helps companies streamline and automate their internal VAT operations
Mobile Remittance Platform
All financial transactions may be managed and monitored with the help of Cinque Technologies' real-time transaction monitoring solution, which includes an integrated analytics rule engine. The application paves the way for risk-aware Dataset and AML screening programs. Contact us if you want to learn more about our mobile remittance platform.
Forex Bureau Software
Finding business software for money transfers is no longer difficult. Your business will manage front and back office operations, enable and monitor AML, Remittances, and prepare central bank reports using the state-of-the-art Forex Bureau Software. Get in touch with us at Cinque Technologies to obtain outstanding software for money transfer applications
Kyc Screening Software
In order to monitor and track all the monetary transactions, Cinque Technologies is here with a real-time transaction monitoring system. This has a built-in analytics rule engine that is needed for any compliance team. The software enables risk intelligent Dataset and kyc screening software. For further information, connect with us now.
Anti Money Laundering Software
Looking for a perfect anti money laundering software? Cinque Technologies is here with a goAML Software that is flexible, configurable, and loaded with cutting edge technology that reduces the infrastructure maintenance for clients. For further information on the software, write to us today. Do not hesitate. Give us a call today!
Online Money Transfer Software
Do you need help with your online money transfer software? Are you planning to switch the old system with an innovative one? Try Symex Webtt, the best online remittance software that allows users to make a remittance by tapping a single button. Streamline your business processes. You can easily integrate with other systems.
Money laundering is a serious offence, and TraX Plus helps prevent money laundering by using its advanced C6 risk intelligence data set. A highly cost-effective goAML software, TraX Plus comes equipped with a real-time transaction monitoring system. It is a robust anti-money laundering software that is popular for its effective goAML solution.
Wages Protection System
Wages Protection system makes life of business owners easy by providing them an electronic system to transfer wages to their workers. They can pay wages through banks, bureaux de change and other financial institutions authorised to provide the service. The FTS helps business owners transfer money to the bank account of their employees only in a few clicks.
Trax Plus is a real-time transaction monitoring system that has an inbuilt rule engine which is essential for any compliance team. It includes a risk intelligence dataset so that people can perform screening on a cost-effective platform. PEPs and sanction lists are a part of the dataset that allows businesses to streamline their internal processes.
Enable Swift Payments through the Fastest Mode Of RTGS
The driving force that plays a major role in the development of payment options is the central bank. From time to time, the central bank plays a developmental role by providing safe, efficient, secure, sound, authorized payment systems in the country. Also, several initiatives are taken to upgrade the systems to meet the requirement of the public at large. The criteria of these initiatives were to improve the payment infrastructure and advancement for supporting immediate payments.
What Is Real-Time Gross Settlement?
The real time gross settlement is a system of fund transfer, that enables instantaneous and immediate transfer of money and securities. This is a process that is continuous and helps in settling payments on an individual order basis. Once the transaction is completed, RTGS is final and it cannot be revoked. This system is run and managed by the central bank.
Key-Points for Swift-International Payments
It is a continuous process to settle out interbank transactions.
This is a process to oppose the netting debits with credits at the end of the day.
RTGS is generally taken for large-value interbank fund transfers.
It helps to minimize the risks related to high-value payments and immediate payment instructions are given.
How Does the Real-Time Gross Settlement Work?
Immediately, after hearing the name of real-time gross settlement what flashes in our mind is, that settlement happens as soon as it is received, because immediate payment instructions are given. In layman language, we can say that as soon as the sending bank transfers the money, the transaction is settled in the receiving bank. However, it does not enable multiple transactions at one time because they are handled and settled individually.
The central bank of the country operates the RTGS transaction and it is generally used for large-value interbank funds transfers. This transaction requires immediate and complete clearing which cannot be reversed.
Benefits Of Real-Time Gross Settlement
It is important to understand the perks of anything before applying any transaction mode. There are several ins and outs of the real-time gross settlement. Given below are several ins of RTGS transaction mode.
The transfer through RTGS can be done online.
It helps in enabling swift international payments.
The transfer of funds occurs in real-time.
This mode of transaction is used for high-value transactions.
It offers immediate and spontaneous clearing of funds and securities.
Real-time gross settlement is highly reliable and backed by the central bank.
The execution of this process can be done on an individual basis.
The execution of these transactions can be done by the organization on a gross basis.
The Uniqueness of Real-Time Gross Settlement
What makes anything popular is the unique quality of something. One such feature that makes RTGS unique for modern consumers is, it can be done through net banking. Some of the information like the beneficiary’s bank IFSC code, the beneficiary’s account number, the name of the individual, bank branch name, etc.
Also, there is one more interesting fact that these RTGS payments can be scheduled beforehand, which makes it convenient for employers as well as organizations to take necessary steps.
RTGS is indeed a good technological development as it reduces the risks associated with high payment settlements.
Why Money Transfer Software Should Be Top Priority to Set Up a Successful Remittance Business?
Money exchange, transfer and remittance are the mainstream exercises of the modern world. The growing popularity of digital payments and mobile wallets in the global economic environment favors starting a profitable money remittance agency. Once this great business idea pops into your head, you can start researching the market, assessing the competition and understanding the licensing needs.
The next important step would be to hire money transfer software developers who develop a feature-rich and robust solution to empower your business. Here you would learn how focusing on arranging a good money remittance software right at the beginning may help establish your start-up.
Start Reaching Customers from Day One
The customers, while choosing a money remittance service, check the service provider’s top attributes. These include:
ange of services like the point of sale payments, utility and bill payments, international money transfer and so on
Speed with which the money transfer is completed. Remember many remittance agencies offer instant services
Accessibility of the services using different devices like computers, tablets, mobile phones, etc.
Investing in a unified software tool meeting each of these requirements would create the right first impression on your potential customers and draw them to your services from day one.
Offer a Fully Compliant Service
For a money transfer service to succeed, it must meet a number of compliance needs. It can be done with the help of a good software solution that would assist you to:
Keep pace with the extremely volatile currency exchange rate so that you offer the best exchange and transfer rates to your customers
Adhere to the anti-money laundering (AML) and ‘know your customer’ (KYC) norms so that the chances of money-related frauds are reduced dramatically
Offer value-added tax (VAT) compliant services to help businesses manage VAT reporting in different countries
Observe and maintain the security layers in order to thwart any possibilities of cyber crimes
Create an Integrated Work Environment
Apart from the money transfer software, you are most likely to use many other software tools to increase your business’s efficiency. For instance, you may hire experts from an ERP software development company for efficient resource planning for your business from the very beginning. What you may do is hire the same developers for various digital tools as it would allow your business benefit from a seamlessly integrated digital environment. Doing it later may lead to complexities and thus, you must plan it in the start itself.
Automate Smart Reporting
As a financial institute, your agency must never overlook the importance of creating regular reports to carry out analysis and business improvements. Again, you must invest in a software which has the ability to automate reporting as it would save you a lot of precious time and prevent inconsistencies in the information.
In addition, a money remittance software solution ensures better customer management, customized interface & functions and extremely convenient service offering. Consider it as an investment to stay ahead in the competition and be a part of the digital revolution.