“In Bangladesh, Remittance is one of the most important economic variables in recent times as it helps in balancing equilibrium of payments, increasing foreign exchange reserves, enhancing national savings and increasing velocity of money. For about two decades’ remittance has been contributing around 35% of export earnings. Remittance earnings are increasing day by day but at a lower rate than the increase in emigration from Bangladesh due to the increasing share of unskilled or semi-skilled labourers than the professionals in international migration. Remittance affects almost all the macro-economic indicators of a country positively. At the same time the rate of migration is declining at a rapid pace for Bangladesh over the years. But still the remittance we receive through legal channels contributes about 60-70% of the total remittance. According to World Bank data the cost of remittance to South Asian countries is at around 3.2% which is one of the detrimental factors of selecting the informal way while sending funds. The concept of RemitNext has initiated to reduce the cost of remittance and create a congenial environment for foreign remittance disbursement. To combat against Hundi or other informal ways the MTO’s and payment service providers have to match with the speed, rate and delivery process of the alternative informal channel. Which needs digitalization of the payment process as well cost reduction from the sending end. That is where our business module is very effective. RemitNext is the Global Hub for Remittance Support incorporated and operated in Bangladesh. We provide innovative and time-extracting service solutions for the send and receive market. As a TECH aggregator company, our aim is to facilitate inward foreign remittance for BD market at a low cost and effective way. It has been observed over the year many medium and small business entities fails to create a footprint in Bangladesh market due to lack of investment requirements and adequate knowledge about the regulatory requirements. Our expert team is there to guide company’s international business through this journey as we provide consultancy services in various capacities. We offer a different array of services starting from facility management, call centre support, Remittance consultancy, Branding & Marketing support, Rem-Tech solution and client acquisition for our partnering organizations.
We provide inward remittance disbursement facilities through the extensive network of our partner MTO’s. We aggregate different MTOs, Banks, MFS and Mobile payment service providers operating in different countries to facilitate cross border payments. We are also aiding remittance technical services to different banks, MTO’s, MFS and Fin-tech companies to optimize the cost, automate the process & digitize financial services. To be the leading aggregator in Bangladesh market with 360-degree solution for MTO, MFS and B2B platforms to enable the one stop remittance hub in Bangladesh. Our dream is to create one stop block chain based Unified National Payment Switch for Bangladesh where the money will move like information. We want to aid Bangladeshi blue collar migrant to send their hard-earned money back home by replacing the legacy technology with hyper lager fabrics as a seamless, safe, certain and cost effective manner.
We are adopting and implementing sometime new every day and enriching our level of services for the future generation.
Avenue – 3, Road- 12, House 842, Mirpur- DOHS
Dhaka-1216
Cell: +88 013 05 53 41 41
Email: info@remitnextbd.com