Forex Money Transfer Application

Forex Money Transfer ApplicationForex Money Transfer Application

Project Overview

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
Nigeria

Platform

Mobile
Mobile

Links

Forex Money Transfer ApplicationForex Money Transfer ApplicationUnlocking potential through innovative learning and holistic growth.
Forex Money Transfer Application

Teck Stack

Android

IOS

PostgreSQL

Android

IOS

PostgreSQL

Android

IOS

PostgreSQL

Problem Statement

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.

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Non-transparent forex rates

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Manual tracking of request status

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High Service Charges

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Personalized country rates

Our Research

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.

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Our Solution

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.

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mbl solution image

Impact

Unlocking potential through innovative learning and holistic growth.

100%

Money Transfer Accuracy

25 % Faster

Accelerated Transfer Speed

60% Reduction

Of manual efforts by Admin

100%

Money Transfer Accuracy

25 % Faster

Accelerated Transfer Speed

60% Reduction

Of manual efforts by Admin

Testimonial

Bobby Valentine

Product Manager


Highlands Community Charter and Technical school, California, United States.

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“I felt like I was not treated as a client but really as a partner and I like that very much.”

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