Cross-Border Remittance Mind Map

Cross-border remittance through STP (Straight Through Processing) technology allows payments to be quickly and securely transferred from one country to another. This technology makes moving funds between different countries easier, allowing recipients to access money faster, more efficiently, and with reduced fees. STP is widely used in banking applications for remittances due to its ability to speed up the process significantly. A common example of cross-border remittances is when someone living abroad sends money back home to their family. This could include sending funds for rent payments, tuition fees for children's education, or general support for one's loved ones back home. In this situation, the sender uses a money transfer service to send funds to the receiver in their home country — often at a lower cost and with a faster turnaround time than traditional bank transfers. Create a similar mind map using EdrawMind and export the files into different formats per your requirements, like PDF, PNG, SVG, and even as an outliner.

Edited at 2022-12-08 17:32:25