From Legacy Pain to Modern Gain: Inside a RemitSo Demo with a 20-Year MTO

We recently sat down for a demo with a leadership team from a highly-established Money Transfer Operator (MTO) based in the European Union. With over 20 years in the business, they came to the table with deep industry knowledge and a critical challenge: their 10-year-old, custom-built platform was becoming "heavy," "old," and prohibitively expensive to maintain.

They were at a crossroads familiar to many mature MTOs: risk an expensive, multi-year internal rebuild or find a modern technology partner.

Their team, including the CEO and the Head of Compliance, asked sharp, insightful questions that cut straight to the core challenges that established operators face. Here’s a summary of the conversation and the solutions we discussed.

"Can We Keep Our Front End?" — The Hybrid Model

One of the CEO’s first questions was about flexibility. Their company had invested heavily in its customer-facing web and mobile applications and wanted to retain its established brand experience.

Their Question: “Is it possible with you to connect to your back end with our own front-end applications?”

The Answer: Absolutely. This is one of the primary use cases for our platform. Our back office is built to be completely “headless,” meaning it operates entirely through APIs — a powerful engine that can be connected to any user interface.

An established MTO can maintain its entire customer-facing experience while instantly outsourcing the most complex operational components to our back end.

• Global payment and payout networks
• AML and compliance rule engines
• Treasury management
• Full transaction ledgers and reporting

This hybrid model provides the best of both worlds — MTOs preserve their brand identity while benefiting from a scalable, fully managed backend infrastructure.

The Compliance Deep-Dive: PSD2 and Strong Customer Authentication (SCA)

With a Head of Compliance on the call, the conversation turned toward EU and UK-specific regulations — particularly PSD2 and Strong Customer Authentication (SCA). The key focus was balancing security and user convenience.

Their Question: “How do you handle two-factor authentication? Can a customer save their device so they don’t have to enter an OTP every time?”

The Answer: Our platform is fully PSD2 compliant and built for a seamless, secure experience. We employ a multi-layered authentication system that fulfills all regulatory requirements while minimizing friction.

• For Web: Standard email/password login, with OTP (via email or SMS) when logging in from a new device or browser.
• For Mobile: Uses biometrics (FaceID, fingerprint) or a device-specific PIN stored only on the device, meeting the two-factor criteria:
  • Possession: The user’s physical device.
  • Knowledge/Inherence: The user’s PIN or biometric data.

This means mobile users enjoy a fast, secure login without SMS delays, while MTOs remain fully compliant with PSD2 standards.

The Business Model Deep-Dive: RaaS vs. Source Code

The CEO’s next focus was on flexibility and long-term control — specifically whether they could license the platform or acquire the complete source code.

Their Question: “What are our options? Can we license the platform, or even purchase the source code?”

The Answer: We offer two clear engagement paths tailored to the MTO’s business maturity and strategy.

• Remittance-as-a-Service (RaaS): The fastest route to market. MTOs pay a one-time setup fee plus a tiered, volume-based transaction fee. This includes ongoing updates and platform maintenance.
• Full Source Code Purchase: For maximum independence, MTOs can acquire the complete source code through a one-time license fee. This includes a 12-month warranty and six months of dedicated support for knowledge transfer and onboarding their IT team.

This flexibility allows clients to start lean and agile under the RaaS model, then transition to full ownership once they achieve scale.

Back-Office Features That "Exceeded Expectations"

During the back-office demo, several features impressed the prospective client. These weren’t superficial additions—they were the result of over a decade of hands-on experience managing compliance and operations in the remittance industry.

• In-Built, Free Sanctions Screening: Automatic screening of all senders and receivers against major global lists (OFAC, EU, UK, UN, and others).
• Highly Configurable AML Rules: Compliance teams can define transaction limits, documentation thresholds, and corridor-specific requirements with ease.
• Internal SAR Filing: Built-in tools for creating, reviewing, and auditing Suspicious Activity Reports (SARs), maintaining regulator-ready records.
• Granular Transaction States: Over 80 transaction statuses track every step from initiation to completion. Automation ensures instant actions, like retrying failed payouts directly from the dashboard.

Go-to-Market Strategy: The Power of Pre-Integrated Partners

The client team wanted to expand from EU/UK corridors into high-volume markets such as the UK-to-India route. Their concern was how to enter efficiently—without excessive marketing spend.

Their Question: “How could we enter the Indian market without spending millions on ads?”

The Answer: Technology is only half of success — the other half is having strong payout partnerships. Our platform comes pre-integrated with leading global partners, allowing clients to launch instantly in key markets.

• A Flat-Fee Model: Simple, predictable pricing per transaction—no percentage-based surprises.
• Hyper-Competitive FX: Rates close to mid-market levels, enabling MTOs to compete with top global brands.
• Total Network Coverage: One integration connects to all Indian banks, a nationwide cash pickup network, and UPI infrastructure.

This means RemitSo clients can launch in India within days — not months — with world-class coverage and pricing advantages.

The Final Takeaway

After an in-depth, two-hour session, the CEO concluded that the platform was “very interesting” and an ideal foundation for modernizing their operations.

Upgrading from a decade-old legacy system is not just about cost savings — it’s about gaining flexibility, speed, and a modular, future-proof architecture that enables easy expansion into new services like wallets or card issuing.

Are you an established MTO struggling with outdated technology? Book a demo with the RemitSo team to experience how our platform can transform your operations and unlock new growth opportunities.