Jay Lee is the Chief Strategy Officer and Co-founder of Sentbe – a money transfer service provider that has partnered with Ripple and RippleNet remittance technology to offer an easier, faster, and more convenient way to transfer money abroad. As Mr. Lee says, "Ripple helps Sentbe do what they do better."
Sentbe focuses on the South- and Northeast Asia corridor, including Korean money transfers to the Philippines, Indonesia, Vietnam, Japan and China. Customers who send money from Korea with Sentbe can save up to 95% in remittance fees over banks. This savings is especially important to migrant workers who find traditional methods expensive, slow, and inconvenient for both sender and receiver.
For those migrant workers in Korea, the Sentbe solution offers financial inclusion opportunities that – as Mr. Lee notes – help not only the worker, but the worker’s family and subsequent generations.
“South Korea is a hotbed of fintech innovation, and we’re committed to grow our customer base and presence,” said Emi Yoshikawa, Ripple’s Senior Director of Global Operations. “Since the Korean government started licensing payment providers for remittance in 2017, we have witnessed how Korean payment providers dramatically improved payments experience for their customers, and we are pleased to be part of their on-going efforts.”
Using blockchain technology, RippleNet provides financial institutions the technology infrastructure and network connections to provide remitters in Korea and around the world with a faster, easier and more reliable way of sending money home.
If you’re interested in learning how RippleNet can help better serve your customers, contact us at http://bit.ly/2TbA9Xm