Volume Payments and RemitSo link open banking to remittance compliance

Volume Payments has partnered with RemitSo to offer UK money transfer operators an integrated remittance system that uses open banking account-to-account payments and automated compliance tools. The companies said the service is designed to reduce customer funding costs, avoid traditional card network charges and increase transaction capacity for operators serving corridors from the UK and Europe.

The arrangement brings together Volume Payments’ open banking payment infrastructure with RemitSo’s enterprise remittance platform. According to the companies, the combined system allows customers to fund transfers instantly from bank accounts, while RemitSo’s rule-based compliance engine performs transaction checks and supports automated payout processing.

For remittance firms, the economic case centres on the funding method. Card payments typically involve scheme and processing costs for merchants, while open banking payments move funds directly between bank accounts through regulated payment initiation rails. Volume Payments said this model removes card fees at the point of funding for participating money transfer operators.

Deployment follows UK-East Africa rollout

The companies said the product has already been used in a live deployment for a UK-based money transfer operator serving East African corridors. They did not name the operator.

According to the announcement, RemitSo had previously experienced pressure on older systems during periods of elevated transaction demand, including seasonal holiday peaks and marketing campaigns. The companies said those systems had reached capacity limits and had suffered outages under heavy traffic.

The new setup replaces multiple third-party tools with a single workflow for funding, compliance review and payout processing, according to Volume Payments and RemitSo. In practice, that means a transaction can be initiated through open banking, checked against compliance rules and moved toward payout without the same level of manual handling described in the earlier operating model.

Companies cite capacity and cost reductions

Volume Payments and RemitSo said the integration can increase transaction capacity for money transfer operators by up to 500%. They also claimed a 75% reduction in support costs, a 93% decrease in manual compliance work and 99.9% platform availability.

The companies did not provide detailed methodology for those figures, but presented them as outcomes from the unified infrastructure and automated operating model.

Simone Martinelli, chief executive of Volume Payments, said UK-Africa corridors are among the most costly in global remittances and described card fees as “a hidden tax on people sending money home.” He said Volume’s role was to remove that cost at source.

Vivek Sharma, chief executive of RemitSo, said money transfer operators have long faced a trade-off between expansion and compliance controls. He said automating compliance work allows smaller teams to manage larger enterprise volumes securely.

The integrated open banking funding product is currently available to UK-based money transfer operators. The companies said those operators can also use RemitSo’s wider core infrastructure network across the UK and Europe.

This story draws on original reporting from Finextra Research.