Forex Money Transfer Application

Instant-Ex project is a mobile-based money transfer platform where customers can initiate foreign exchange (forex) transfer requests across different currencies. These requests will be processed offline by administrators, with a dedicated mobile app for clients and a separate mobile interface for admin users.

The platform enables international fund transfers, supports local and foreign currency conversions, provides real-time rate calculations with customizable service fees, and simplifies client interaction via a user-friendly mobile experience.

Domain

Financial Services

Country

Nigeria

Platform

Mobile

Links

Cross-border money transfers between non-African and African countries often face issues like non-transparent forex rates, high service charges, lack of mobile-first platforms, manual tracking, limited customization, and complex user experience.

Goal: Build a mobile interface to manage requests, update statuses, and define adjustable country-specific forex surcharges and service fees as a part of administrative activity.

Non-transparent forex rates

Manual tracking of request status

High Service Charges

Personalized country rates

Users struggle with high fees, unclear exchange rates, and limited access to secure and simple forex transfer apps. Existing platforms lack localization, transparent charges, and an easy way to manage transfer histories. Admins also face challenges in updating rates and monitoring transactions efficiently.

Common painpoints

01. Unpredictable Conversion Rates

Users often do not know the exact exchange rates, and hidden charges reduce transparency.

02. Complicated Transfer Flow

Traditional services require users to navigate multiple steps across different platforms.

03. Missing Limits Control

Admins cannot enforce country-specific limits, increasing risk or breaching regulations.

04. User Interviews & Surveys

Uncovered challenges users faced while making the transactions.

The app offers a seamless forex transfer experience with real-time conversion, email notifications, and secure payment integration. Users can manage transfer requests, view histories, and update profiles easily. Admins can monitor all transactions, set country-specific fees, and control forex rates dynamically from their app.