INSUBCONTINENT EXCLUSIVE:
but also through better technology, delivering faster transfers and a smoother UX via the Azimo mobile apps and web versions.In a brief
existing customers had been asking for as they wanted to expand their use of the money transfer service to the small businesses they
operate, not just for sending money to family and friends in their original home country.He also (rightly) noted that immigrants are much
more likely to start their own business compared to native nationals, and that these micro and small businesses are often international in
nature, such as importing or exporting specialist goods
This requires a significant amount of money transfer and exchange for things like paying suppliers and paying local salaries.To that end,
requirements around anti-money laundering
This sees business users having to pass KYC and KYB checks, with Azimo ultimately needing to satisfy the regulator that it knows the
beneficial owner of a business sending money.However, the Azimo founder says that required building technology and processes to scale those
unnecessarily.Meanwhile (and proof that there was pent-up demand), while running in beta, Azimo Business customers on average sent six times
The most popular sending countries were the U.K., Germany, the Netherlands, Spain and France
The most popular receiving countries were Poland, China, Singapore, Pakistan, Hong-Kong, and South Africa
