Small world is ranked 3rd remittance company in the world.
Small World is an international money remittance company ranked 3rd in the world. Small World has more than 250,000 cash pick-up locations in 160 countries and direct-to-bank account pay-out in more than 100 countries.
In Africa, settlement via local banks takes 3-5 days. Inflation and volatile FX create unwanted risk exposure, increasing transaction fees. As a result, customers do not get their money’s worth – not a fair situation, given the dire economic conditions of most recipients of incoming remittances.
Bancore provides Small World with instant settlement and real-time FX conversion. Bancore’s global payment gateway helps Small World settle in several optional currencies across multiple payment corridors. In 2019, Small World processed $100m remittance volume via Bancore and reduced transaction cost by 20%. Beneficiaries also received value above the average market rate.