Ripple helps Sentbe provide faster, cheaper and convenient remittances for migrant workers in Korea
Goal: To enhance financial inclusion for economic migrants and their families by questioning traditions and creating innovative new services.
Solution: Ripple helped Sentbe overcome the main challenges of cross-border remittances, including hidden costs, multi-day transactions times and inconvenient user experience for both sender and receiver. RippleNet’s standardized integrations provide quick and easy connections with banks and financial institutions across the region and helps Sentbe develop cost-effective and fast transaction routes.
Financial services firm based in Korea and Singapore offering online international remittances across Southeast Asia and beyond.
Number of corridors
Money saved by Sentbe customers on FX conversion and transaction fees
Time it takes for a typical Sentbe remittance to reach its recipient
“RippleNet’s standardized integration process makes it easier for us to connect with partners across Southeast Asia and make cross-border payments faster, cheaper and more convenient for migrants in Korea and their families back home.”
Jay Lee Young, Co-Founder and Chief Strategy Officer at Sentbe
Finding the Right Partners for Faster Connections
With help from Ripple, Sentbe is providing a faster, low cost and convenient way for Korea’s large population of migrant workers to send money home to their families. The service wanted to overcome common challenges around remittances including hidden costs, multi-day transaction times and an inconvenient experience for both senders and receivers. Being part of RippleNet gives Sentbe a single, standardized way to integrate with a wide network of banks and financial institutions in the region. These new partnerships help the service hedge FX more efficiently and optimize routing to reduce costs and improve speeds, while allowing customers to complete transactions online or from their mobile devices.