As we move towards a globalized world, sending money to loved ones has become part of our day-to-day life. The world adoption of remitting services has become popular and easily accessible to the extent, individuals can send and receive money from virtually any part of the world. It has also led to the emergence of various institutions offering or assisting such great services. Unfortunately, the rise of the financial crisis has led to the disclosure of flaws in the traditional way of sending and receiving money across the globe. The consequences of these flaws are being suffered by both established companies and new entrants in the money transfer market.
As tertiary students working on research-based projects focus on producing original works (reports, products) which will contribute to worlds’ knowledge, so as new entrants into the money transfer market aims to resolve existing problems (ie. High transaction fees and slow speed of money transfer due to many intermediaries involved throughout the process, poor customer service and several others. ) faced by those already in the market. The failure has made the giants in the market monopolized greater shares.
The team members of find.EXCHANGE with an unusual foresight and having discovered gaps in the market, seeks to build an ecosystem that will resolve or fill these gaps.
The introduction of the FEX token to the existing platform (A Decentralized Global Comparison Money Transfer Platform Based on Blockchain for Fiat/Crypto Currencies) seeks to make money transfer around the globe cost effective. Eliminating trivial intermediaries means lesser chargers through the transfer process leading to a relatively cheaper transaction fee.
The KYC process can sometimes be frustrating and time consuming. It takes between a day, to sometimes weeks in order for an applicant to be verified. The find.EXCHANGE ecosystem (based on the blockchain technology) is focused on making the verification process one time and hustle free, making it accessible to trusted partners on their platform. This will speed up the transaction process.
Find.EXCHANGE being built on the block chain will also help solve other problems relating to security. There have been several successful hacks on financial institution leading to their collapse. Issues regarding transparency and user experience are also going to be comprehensively addressed by the find.EXCHANGE platform.
As a promising and a problem-solving oriented project, we will look at some of the benefits of the find.EXCHANGE platform to its various stakeholders in the subsequent paragraphs.
For users, the project is focused on coming up with a portable product (ie. available on various platforms like web, android and IOS, etc.) that would assist in achieving the ultimate goal. The users will be provided with an interface with search and comparison engine integrated to assist them browse for services with the best rates, speed, rewards and promotions. Incorporating all these great feature on one platform will help achieve user experience goals and make it easily adopted worldwide.
With regards to merchants, the platform is well structured to favor both existing institutions and new entrants. Partners will gain the benefit of customer retention and acquisition with less effort. There would also be the opportunity for merchants to manage their business and services via their online portal and perform certain tasks like update of currency rates, adding of branches, live chat with customer, reports (scheduled, exceptional, predictive and on-demand) of financial performance and several others. The platform from the merchant’s point of view is more of a comprehensive information system to help firms achieve operational excellence.
Objectively, find.EXCHANGE is focused on solving real life problems, making the project interesting and promising. In addition, the project is endowed with well-known and skilled team members that have great experience in their various fields of expertise.
For further inquiry and information, vital links have been provided below:
Medium---
https://medium.com/@findexchangeTelegram---
https://t.me/findexchangeTwitter---
https://twitter.com/findexchangeWebsite---
https://blockchain.find.exchange/Facebook---
https://www.facebook.com/findexchangeReddit---
https://www.reddit.com/user/FindExchange
