BCRemit to utilise Clear Junction’s remittance solutions

by 23 June, 2021

We are delighted to announce that Clear Junction has been providing a range of payments services to support the growth of BCRemit, a fintech company that provides an online money transfer service to the Philippines.

BCRemit has been established to help individuals make fast and convenient payments into accounts based in the Philippines at reasonable rates. Employing secure and proven technology is of paramount importance, as is the knowledge that when funds are sent, they will appear in the recipient’s account in as little as a few minutes.

HELPING REMITTANCE COMPANIES OVERCOME CHALLENGES

The partnership with BCRemit is a perfect demonstration of how the solutions Clear Junction provides to remittance companies can be used to overcome the challenges associated with sending cross-border payments. The team at Clear Junction has provided access to Faster Payments, a British domestic clearing network which enables collection of funds in the UK, before being sent to recipient accounts in the Philippines.

As a licensed entity, Clear Junction’s offering is designed to minimise the operational and financial challenges of launching and growing new fintechs, at the same time as providing scalability to facilitate expansion. While the partnership is in its infancy, there are exciting plans afoot, which will see BCRemit expand its service offering by maximising the potential of Clear Junction’s solutions.

ENABLING DISRUPTIVE MONEY TRANSFER SERVICES

“BCRemit has benefited enormously from partnering with Clear Junction. Their team has been instrumental in helping us provide a disruptive money transfer service to the Philippines,” says Oliver Calma, Founder or BCRemit. “We look forward to growing our partnership as we expand our service further.”

“Clear Junction is excited to help BCRemit in ways that enable them to serve people in the UK and EU,” says Dima Kats, Chief Executive of Clear Junction. “It is one of our goals to facilitate remittances to locations around the world, including APAC and Africa, and providing BCRemit with a collection account perfectly demonstrates how effective our solutions are to this end.”

Over the course of the next six months, it is expected that BCRemit will fully integrate with Clear Junction’s APIs and make use of virtual IBANs, which they will be able to issue to their customers in the name of their business. In addition, there are discussions regarding streamlining the process even further, so that currency conversions are performed automatically and at lower cost.

To find out more about how Clear Junction can help remittance companies access banking and payment solutions that work for them, please get in touch via our contact form.

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