Client
- A holding company associating licensed providers of money remittance services in the EU and the UK
- Provider of IT solutions for the payment services industry
- Money transfer services for businesses
- Systems for currency conversion based on a proprietary solution
- AML/CFT verification services for obligated institutions
Challenges
- Efficiency and security of money remittance solutions
- Regulatory compliance
- Limitations of card payments and open banking
- User Experience and Accessibility
- Customer Support and Onboarding
How Did We Help?
Project idea!
We started by collaborating closely with TORO Invest to understand their vision and business goals for the Toro API platform. Our team conducted a series of discovery workshops to:
- Identify Key Requirements
- Define Objectives:
- Market Research
- Risk Assessment
Solution architecture
Based on the insights gathered during the project idea phase, we designed a comprehensive solution architecture that addressed all identified requirements:
- Modular Design
- Secure Framework
- Compliance Integration
- High Availability
Solution implementation
With the architecture in place, we proceeded with the solution implementation phase, focusing on building a robust, feature-rich platform:
- Agile Development
- Custom Development
- Third-Party Integrations
- Rigorous Testing
- User Training
Deployment in test and production environments
Once the solution was thoroughly tested and validated, we moved to the deployment phase, ensuring a smooth transition from development to production:
- Staging Environment
- Data Migration
- Performance Tuning
- Post-Deployment Support
Result
Brand new TORO API platform for money transfer services.
KYC and AML for private and business clients, based on EU and UK regulations
Implements Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to comply with stringent regulatory requirements in the European Union and United Kingdom, safeguarding both private individuals and business entities. By adhering to these regulations, businesses can prevent financial crimes such as money laundering, fraud, and terrorism financing, thus maintaining the integrity and security of their financial operations.
Money remittance within the EU and UK for business clients and individuals
The TORO API facilitates secure and efficient transfer of funds within the European Union and United Kingdom, catering to both corporate clients and individual users. The platform ensures that all remittances are processed swiftly, with robust security measures to protect against fraud and unauthorized access.
Making payments using payment cards and open banking
Our platform supports seamless transactions via traditional payment cards and modern open banking methods, ensuring flexibility and convenience for customers.
This includes the ability to make payments using credit and debit cards as well as leveraging open banking technologies to initiate direct bank-to-bank transfers.
