Page 50 - Punjab Times April 2019 Baisakhi Special Edition

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CustomerExperience,Convenience Drive 24% YOY Volume Growth in South Asia Corridor: InstaReM

Sydney (Bureau) During arecent focus on customer experience and sense to him anymore!” 1. Zero-Margins on Foreign which is being leveraged by financial
briefing to South Asia-focusedmedia convenience has resulted in a strong “His situation is not unique – many Exchange rates institutions, SMEs and individuals to
and community leaders, Mr Vinoth 24 percent volume growth in the of the South Asian diaspora living, 2. Low Transaction Fees make fast, low-cost cross-border
Manoharan, Country Manager of Australia-to-South Asia corridor, led working, and studying in Australia 3. Absolute Transparency in payments to more than 55+
InstaReM, one of Southeast-Asia’s by Australia-India trafficlast year.” need to conveniently send and Costs countries. InstaReM also serves
leading digital cross-border payments InstaReM, which started its receive money and we know how 4. Speed of Settlement institutional and corporate clients with
its international business payments
companies with a growing presence operations with Australia-India important it is to make the process as 5. Convenience platform providing bulk, customized,
in Australia, revealed that focusingon corridor in 2015, enables consumers, smooth as possible,” continued Mr A Finder.com.au study found 12 multi-currency payments facilities.
customer experience and businesses and banks to make Manoharan. percent of people in Australia provide Since starting operations in 2015,
convenience has been integral in the international money transfers at a low India is the second largest global financial assistance for relatives InstaReM has raised US$ 38 million in
firm’s growth and success in the cost.InstaReM’s growth in Australia remittance market for Australia, with overseas and 32 percent have sent three rounds of funding. Its investors
Australia-to-South Asia/ India echoes a global trend of accelerated AUD$2.74 billion transferred from money abroad at least once; around include Global Founders Capital,
corridor. remittance growth, especially into the Australia to India in 2017. World Bank half of those as a gift and just over Vertex Ventures, Fullerton Financial
Vinoth Manoharan said, “The South Asian region where it topped statistics show migrants in Australia one third to support relatives. Holdings, GSR Ventures, SBI-FMO
South Asia/India corridor is very 13.5 percent last year. sent close to AUD$23.816 billion About InstaReM Emerging Asia Financial Sector Fund,
exciting for InstaReM, and we strive “My father regularly remits money overseas in 2017. InstaReM is a Singapore- MDI Ventures and Beacon Venture
to deliver the best-quality experience back home to South Asia and used to During the briefing session, headquartered digital cross-border Capital. InstaReM is also a member
of RippleNet, Ripple's global network
to our Indian and other South Asian be hesitant abouttransferring money InstaReM laid out the firm’s focus on payments company with presence of 200+ banks and other financial
customers. This audience often tells online. Afterexperiencing great understanding and delivering on the across Asia-Pacific, North America institutions, and a winner of Ripple’s
us that convenience is important to convenience in his first digital unique needs of the South Asian/ and Europe. The only digital cross- Blockchain Innovator Award for
them when conducting remittances. transaction with InstaReM, the notion Indian diaspora in Australia through border payment company from Asia innovations in payments space. For
We have heard their message loud of taking time to visit a physical unique positioning of five core covering 40+ countries, InstaReM more information, visit https://
and clear and are pleased that our branch or an agent does not make benefits: has created a unique payments mesh www.instarem.com/
PAU Alumni Association Australia organized its Spring Function

Sydney (Bureau) PAU Alumni third Sunday of the month. It will Alumni Association Australia in entertainment items and the heavy rain predicted for the day.
Association Australia organized its be organized by the PAU alumni future and has very kindly indoor activities like Tambola and This organizing committee
Spring Function in Sydney on 17- living in the Kelliyville Ridge and announced to financially fund the Antakshani. Although the deserves a big credit, for making
03-2019 in the Bella Vista suburb. The Ponds suburbs of Sydney. next function at his own. He is Volleyball, tug of war and musical the nice arrangements for the
In all 40 families attended this Dr Dharampal Singh Garcha, who going to retire shortly, from his chair race could not held due to success of this function at a short
function, although there is an completed B.Sc Agri (Animal active service in Sydney. heavy rain.The present notice. To finish this function
estimate of about 200 PAU Sciences) in 1975 from the PAU, In spite of the bad weather, organizers (Kellyville group of PAU with the happy note, some
alumni families living in Sydney. attended this function for the there was a good gathering of alumni) have to arrange the entertainment items were
The next function will be first time in Sydney. He has shown the alumni families. It was a fun special tents to accommodate presented by Gurmail Dhaliwal
organized in Sep. 2019, on the his full commitment to the PAU filled function with the the participants, as there was a and Nirmal Singh.