Alliance Cash2Home is a first-in-Malaysia mobile foreign remittance solution that offers paperless account opening and remittance services via mobile application. This digital innovation was created to promote financial inclusion in the underserved blue collar foreign worker segment. Cash2Home is part of Alliance Bank’s Transformation Story, focusing on scaling up economically, reducing complexity, and future-proofing the bank. The initiative created a new banking paradigm by turning mobile phones into a banking relationship starter to financially empower an underserved market.
The platform addresses most banking needs, as it is always turned on and available, with al other channels now alternate. The mobile channel balances innovation and risk mitigation as it supports KYC requirements. It also increases daily transaction limits to enable large monetary amounts in remittances via the mobile channel, where traditionally these banking requirements can only be supported by a branch.