Remittances are big business. As more and more people leave their country to work abroad and as big companies continue to expand their businesses overseas, the amount of money sent back home also increases. With this understanding, it is important to invest in a reliable remittance system that enables the bank to oversee and manage the remitted transactions.

The Carnelian Remittance System is SXI’s solution that enables the financial establishment to effectively manage remittances. These remittances that come from local and foreign remittance offices/tie-ups are thoroughly processed and distributed to a receiving beneficiary thru various modes: credit to account, credit to another bank, door-to-door delivery, pickup from branch and outlet or a bill payment transaction.

Product Breakdown:

1.Remittance Processing

·This section is responsible for handling transactions processed from Remittance Entry, Batch/Cover Processing to funding up to the distribution stage. It’s also where the Amend Remittance for amending of transaction with discrepancies are reviewed for approval.

2.Inquiry

·This service allows the moving of funds from a personal account to another account, be it from the same financing establishment, a different local bank, or a foreign bank. Transfer options include instructions on how to transfer cash with considerations on time, fees and transfer limits.

3.Delivery and Feedback

·This is where the actual delivery of remittances and updating of feedback are made based on its actual remittance status.

4.Reports

·This feature enables the user to generate transaction reports, audit log reports and other reports to view details o the remittances online.

5.Back Office Admin

·This service allows the user to setup and configure with foreign office, couriers, outlets and merchants plus utilities maintenance and other reference tables relevant to each remittance transactions.