Discover iExchange from TimesofMoney, a comprehensive web-based service that helps you track your Remittance flows. Keeping with the disadvantages of 'Over the Counter Remittances,' iExchange is a multi-level web-based information flow system that allows you to track your Remittances by the minute. From the Remitter to the receiver and back, iExchange helps you track your Remittance flow information in real time. Thereby, it prevents delays owing to the physical flow of documents into the system.

Who can benefit from the this?

Exchange houses & money transfer operators with agents spread across multiple locations can benefit from this. This helps you put all your agents across borders on a single transaction settlement network, while providing powerful, centralized management tools.

Accordingly, the iExchange module has 4 distinct levels:

The Operator: According to the iExchange module, the Operator carries out his functionalities from the branch. He accepts the credit, and enters information concerning the customer into a web-based module as against a physical module.

The Branch: The Branch is a physical place present in the country of Remittance. At iExchange, our Branch is spearheaded by a Branch Administrator whose primary responsibility is to authorize each of the transactions processed. Additionally, the Branch Administrator also adds operators and defines their rights.

The Overseas Branch: The Overseas Branch refers to the main overseas branch that views data entered by other branches and accordingly takes the funds position,that is it deposits money into the bank.

The Nodal Branch: Based in India, the Nodal Branch refers to the receiver bank that will convert the money sent by the overseas branch, if needed, and deposit or send the same to the beneficiary in the receiving country utilizing appropriate channels.