There are a lot of companies that need the capability to be a fintech. Whether you’re an ecommerce site, offer online travel services, or if you’re a big retailer, sending and receiving money is crucial. But needing to be a fintech and having the capability of being one are two different things. And that’s where Singapore-based company, Nium discovered their niche.
When Nium created InstaReM, a product that simplifies cross-border remittances for consumers, they quickly realized that in addition to creating a wildly successful product, they had created something else that might even be more valuable: an infrastructure. They now have a platform capable of moving money around the world—and they could offer it to anyone who needs it—be it large enterprises, banks or financial institutions.