VoiceCash partners Dubai's Newboard Capital on remittances

Source: VoiceCash

The UAE remittance market has a volume of about $10 Billion a year. The workforce of the country includes numerous migrants from India, Pakistan and Bangladesh.

To cater to them, VoiceCash Group has announced a new service to enable these expatriates to send money home more quickly and safely in comparison with existing channels.

In autumn 2008 VoiceCash received a full European SEPA Banking license establishing VoiceCash Bank in Malta. As money transfers across international borders are one of the biggest growth markets and are emerging worldwide as a significant part of the economic development process, VoiceCash Bank is an important step forward towards providing world-wide access to mobile banking.

To build and provide this service VoiceCash has retained Dubai based Newboard Capital as a strategic advisor. VoiceCash is an associate company of VoiceTrust, the global market leader in the field of authentication through biometric voice verification. It is also the main technology partner for the VoiceCash enterprises.

Newboard Capital has already structured a 17 million Euro buyout for VoiceTrust in 2007 when Dutch investor Marcel Boekhoorn acquired a majority stake in the group by buying out the original German venture capitalists.

Michael Kramer CEO of the VoiceCash Group and Corné Melissen, CEO of Newboard Capital both expressed their firm belief that the new cooperation between the companies will bring serious competition to the UAE remittance market.

 

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