I think it would be good to know what motivated the bank to change. Why did you decide to pursue this option in the first place? What was the context?

We observed a decrease in retail remittance transactions in both frequency and volume. After conducting research and surveying our customers, we discovered they were using alternative methods to send money overseas, leading to a loss in market share. Although initially it seemed like a small revenue loss, over time the gap widened significantly.

I think it would be good to know what motivated the bank to change. Why did you decide to pursue this option in the first place? What was the context?

We decided to investigate whether this shift affected our customers' savings account balances. We found that it did. When customers conducted transactions outside our bank, they tended to move their money elsewhere, often opening wallets and keeping their funds there. This posed a problem for us.

I think it would be good to know what motivated the bank to change. Why did you decide to pursue this option in the first place? What was the context?

We invited nearly a dozen fintech companies and explored solutions from major banks like JP Morgan, Bank of America, and Bank of New York. However, large banks charged high fees, so we opted to collaborate with fintech to regain our market share.