One Neobank operating in West and Central Africa was experiencing a high transaction failure rate of 50% while providing cross-border remittance services to its customers. The Neobank struggled to integrate with Mobile Wallet providers and Mobile Money Operators (MMOs) in the region, leading to dissatisfied customers and issues with autoscaling and data compliance.

However, after connecting with HUB2’s API solution, the Neobank was able to significantly improve its transfer reliability and ensure compliance with local regulations. HUB2’s API solution provided a single platform that allowed the Neobank to easily integrate with Mobile Wallet providers and MMOs across the region. The platform also provided strong internal controls and procedures that ensured compliance with local regulations and minimized the risk of fraud and money laundering.

After implementing HUB2’s API solution, the Neobank’s transaction failure rate decreased from 50% to 2%, resulting in a significant increase in customer satisfaction, Net Promoter Score, and a growing customer base.

HUB2’s API solution also provided the Neobank with an autoscaling platform that could handle 10x growth of traffic instantly without failing. This ensured that the Neobank could handle high volumes of transactions without any disruptions, while also respecting customer data privacy and complying with data protection regulations.

The cost savings of having a more reliable infrastructure were also significant. With HUB2’s API solution, the Neobank no longer needed to reprocess one out of every two transactions due to failed or pending status, resulting in significant cost savings.

In summary, HUB2’s API solution helped the Neobank to significantly improve its transfer reliability, grow its customer base, and reduce costs. The success story demonstrates how HUB2 can help Neobanks operating in West and Central Africa to improve their cross-border remittance services by providing an easy and reliable way to access Mobile Wallets and ensure compliance with local regulations. With strong internal controls, data compliance, and excellent customer support, HUB2 is a trusted partner for Neobanks looking to improve their transfer reliability and provide a better customer experience.