Singapore-based 4xLabs launched a platform that helps users find the fastest and cheapest way to send their money abroad.
Singapore-based fintech 4xLabs on Monday launched Send4x, a platform that lets users compare and choose the most economical way to send their monies overseas.
«With Send4x, we want to provide price transparency for all these new local providers, neobanks or even mobile wallets, allowing users to compare cost breakdowns across both modern and traditional players in the money transfer industry, so they can get the best deals,» said chief executive Chris Vanden Berghe in a press statement on Monday.
Focus On Asian Corridors
While covering more than 9,000 corridors from 45 sending countries, the company told finews.asia it will focus on Asian remittance corridors.
«Our focus on Asian corridors is due to the unique reach and network we have built in this region from partnerships we have with Asian providers, to our customers (money changers, remittance, fintech, banks) in the forex industry that are using our services in compliance and business management,» said Berghe.
Popular Providers On Board
Send4x is the second business to consumer (B2C) product launched by 4xLabs in the forex space. Popular remittance providers Azimo, InstaRem, OrbitRemit, SendFX, TransferWise, and WorldFirst are already on board as the first batch of providers on the aggregator platform.
Its first product, Get4x, was a currency exchange comparison site and has amassed more than 250,000 registered users in the last few years with a hundred thousand unique views per month. The demand for a service like Send4x came from this particular community, 4xLabs said.
