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Sokin launches remittance service

Source: Sokin

Sokin the global cross-border payments firm is set to launch its transparent, secure and fast service remittance service which will allow millions of people to make unlimited low cost monthly international payments.

Sokin has invested in proprietary client identification and money tracking technology to dramatically reduce the time taken for customer and funds approval. This is linked to a ‘no additional’ charges and interbank exchange rates to give the best cross-border payment prices.

Currently in a seed funding phase, Sokin is preparing for launch, having developed the technology and put in place the necessary international partnerships. It’s lead regulation is from Canada and it has developed commercial relations relationships with banking partners in the United States, the European Union (including the United Kingdom) and Asia.

Vroon Modgill, CEO at Sokin, believes that the age of high-cost payments, which take days to be delivered and can be subject to fraud, are gone. He commented, “Consumers are used to being able to transfer funds within their own country quickly, safely and without high charges. Now they can have the same service when exchanging money between countries. We use the latest technology to check people and funds and then move money for a set monthly fee, with no mark-up or transaction costs and best rates guaranteed.”

Sokin will operate a subscription-based remittance model, which allows users to make unlimited transfers for a set monthly fee. With a team of 26 developers working on the technology Sokin is looking to launch in selected markets in Q2 2020.

“We have brought together proven technologies and through Sokin’s proprietary systems have created a payment solution which will benefit millions of people. The system we provide is so much faster, more secure and significantly cheaper, so the days of the old archaic payment solutions are numbered. We believe that Sokin will be the benchmark for all future payment solutions,” concluded Vroon. 

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