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In a world where financial borders create barriers for many, Ooredoo Financial Services set out to change the narrative. Their mission: to create a remittance platform that would make sending and receiving money across borders fast, affordable, and accessible. This vision aimed to lift the burden on people who rely on remittances to support loved ones, redefining convenience for the region.
The idea took shape from a deep understanding of the challenges faced by everyday users: high fees, lengthy processing times, and limited access. To solve these, Ooredoo partnered with seven major financial networks, including MoneyGram, Mastercard, Thunes, and Al Dar Exchange. These partnerships allowed the platform to offer extensive coverage, reliability, and competitive exchange rates, providing users with rates, corridors, and services previously inaccessible.
Built with simplicity at its core, the platform offers an intuitive interface for sending money quickly and securely. Real-time transfers, highly competitive exchange rates, and a dynamic FX rate comparison dashboard allow customers to make informed decisions instantly. This solution was more than a convenience; it transformed Ooredoo Money into a market leader, setting new standards in the remittance space.
Beyond ease of use, the platform's true value lies in its social impact. It serves as a bridge for families, particularly within underbanked communities who had limited financial access. Offering multiple payout options—instant cash pick-up, bank deposits, and digital wallet transfers—users can now send money to over 200 countries with ease. For families relying on remittances as vital income, this platform has become a lifeline, connecting loved ones across vast distances.
Delivering such a robust service required more than technology; it needed strong partnerships and strategic execution. Ooredoo worked closely with banks, payout networks, and regulatory bodies to ensure compliance, while leveraging cutting-edge financial technology for speed and security. Marketing efforts focused on building trust through community outreach and awareness campaigns in key remittance corridors, making the service both accessible and trustworthy.
The impact was swift and measurable. The platform is attracting 375,000 active customers who rely on it for affordable remittance services. The platform has processed a total remittance volume of $6.9 billion, capturing a 20% share of Qatar’s remittance market since 2022. With over 10 million transactions completed, the platform’s growth reflects its value to users and the community.
Yet, the numbers only scratch the surface of its impact. The platform’s success is most evident in the stories of those it has helped. Take Ahmed, a worker who can now send funds home in minutes, ensuring his family’s needs are met without delay. Testimonials like Ahmed’s highlight the platform’s convenience, affordability, and how it has enhanced financial inclusion for thousands. Community leaders recognize the platform as a positive force, fostering economic stability and financial empowerment.
Today, the remittance platform stands as a beacon of Ooredoo’s commitment to innovation with empathy. It embodies the company’s mission to empower and uplift communities, proving that technology can bridge borders and bring people closer. As the platform continues to grow, its story serves as an inspiring example of the power of financial accessibility and the impact of a purpose-driven approach.
Nomination Title: Bridging Borders: The Story of Ooredoo Financial Services’ Remittance Platform
