It is undeniable that cross-border payments as a business opportunity are plentiful. The global cross-border remittance market is currently estimated to be worth $706 billion. This is a huge market that is only expected to grow in the coming years. A remittance business has the potential to be a standalone business venture, as the public offer of DBS Remit indicates. Business leaders like you looking for opportunities to grow their profitability must size up the opportunity of offering a branded remittance service to their retail customers.

As far as launching a usable, market-ready payments set-up is concerned, time is of the essence and the MTO partnership delivers on this factor. Such a readymade solution is every bit desirable, but it comes with its own pitfalls.

A tie-up with an MTO can result in low profitability. The risk of regulatory changes is high: If the MTO loses the license to operate in the corridor, your business linked to the MTO comes to an abrupt stop. Just because the potential is high doesn't mean it has to be a complex project – Fable’s platforms can help.

The Product Development model

The initially assumed benefit of developing a cross-border payments solution internally is control over product development but it has its own pitfalls. Development can take several months or even years besides costing millions of dollars. In addition, delayed go-to-market means the profits are postponed and blind-spots lead to long development time. To deep-dive into all these approaches, read our power of platform blog.

Enter the billion-dollar Business without Hesitation

DBS Remit adds around $44 million to $51 million in profitability to its bottom-line along with a valuation of anything between $3.68 billion to $7.35 billion. With the power of platform, now banks can jump into a billion-dollar valuation without delay or risk and run their business on their terms towards high profits.

To acquire the platform, book a demo with the Fable Fintech cross-border platform experts;