New player enters money transfer market
STAFF WRITER
Leading financial intermediary firm, Bard Santner Incorporated, which specializes in wealth management, corporate finance, and asset management, yesterday launched TX Money Transfer, a new money remittance platform, in the capital Harare, Business Times can report.
The company’s executive director, Lucia Chingwaru said the new money transfer service provider would introduce a new value proposition centred on “reliability, transparency and efficiency” for the transacting public.
She added that TX Money Transfer would improve reliability, transparency on charges to avoid hidden costs and promote collaboration to remove process chokeholds from the sector.
These have a negative impact on customers who find it easy to send money, but hard to receive due to bottlenecks at the end of the value chain.
According to Chingwaru, her organization is committed to providing dependable, high-quality service and, through partnerships with current players, expanding its footprint and size throughout the nation.
“Today marks a momentous occasion as we introduce TX Money Transfer, a new business specifically designed to cater to the urgent financial needs of individuals and companies requiring swift fund transfers.
“Our main objective is to bridge existing gaps in the remittance sector by offering a reliable, transparent and integrated service. Reliability is key to us, just like transparency is. We also need to work with others in an integrated, not fragmented way,” Chingwaru said.
She added: “To start with, we need to study the current system with existing players to remove bottlenecks in the sector to ensure smooth and better service for our clients and good returns for business.
“To grasp the significance of this issue, we should delve into the nuances of bottlenecks, dissecting their anatomy, impact, and strategies for mitigation.
“Let’s identify process chokeholds, supply chain disruptions, capacity constraints and ripple effects like time theft as we know that bottlenecks steal time from us and undermine productivity.
“There is also need to pay attention to the issue of opportunity cost: Every minute spent waiting in a queue, for instance, due to bottlenecks is a missed opportunity elsewhere.
“To address some of these key issues requires collaboration with others and process redesign and revisit of workflows.
“It is crucial to continuously monitor the process and remove bottlenecks.”
By utilising TX Money Transfer, we assure the availability of funds for disbursement and guarantee no hidden fees. Our fee structure is a flat 3%, providing clear and predictable costs for our clients with no hidden costs.”
Collaborations, Chingwaru said will facilitate economies of scale, streamline processes, and consolidate efforts.
“This approach will enable other remittance providers to offer services more efficiently and reliably to their customers. For example we are currently offering this service to InnBucks and finalising similar agreements with other key players in the market. This strategy not only reduces costs but also ensures timely and secure fund transfers for customers”
