Matchmove and KPMG Partner With Construction Firm to Facilitate E-Remittance for Migrant Workersby Fintech News Singapore June 12, 2020
MatchMove, a fintech offering a ‘Banking-as-a-Service’ platform and KPMG, today announced their partnership with the Expand Group, a leading homegrown building construction group with integrated civil engineering and construction support service capabilities, to facilitate Employer Assisted contactless e-remittance for foreign migrant workers quarantined in dormitories.
The COVID-19 pandemic and heightened number of cases amongst the foreign migrant worker segment has led to them being quarantined in dormitories. As they are unable to leave their dormitories due to the Stay Home Notice, they are unable to make the trip to their usual remittance centres. This situation has accelerated the adoption of cashless digital payments among the foreign migrant workers.
In support of the Government initiative to support the migrant worker community, MatchMove and KPMG are collaborating with Expand Group to onboard their foreign migrant workers onto the Boss Mobile Money remittance application and training them virtually so they can carry out the transaction at ease.
Expand Group, currently employs about 1000 foreign migrant workers, all of whom are currently quarantined in various dormitories. In recognising the challenge faced by foreign workers, KPMG spearheaded this digital solution with MatchMove, and has donated cash to pre-load the wallet with a sum to cover transaction fees for this pilot phase. A number of dormitory residents have already successfully been onboarded onto Boss Mobile Money and can now perform transactions to remit money back to their families in India and the Philippines. KPMG continues to seek support from like-minded corporates and individuals for this cause.
MatchMove’s Boss Mobile Money application is a B2C application that enables cross-border transactions safely and securely to more than 10 countries including India, Bangladesh and the Philippines. The application is also popular amongst the foreign migrant worker segment due to its user-friendly experience and multi-language instructions, not to mention competitive rates.
“The ongoing pandemic has made us realise the urgent need for our quarantined workers to adopt relevant digital tools to ensure their lives and their families are not disrupted. It is encouraging to see fintechs and corporates such as MatchMove and KPMG stepping forward to empower and educate our workers, to ensure they are able remit in a seamless and fuss-free manner. We look forward to onboarding more of our workers on MatchMove’s Boss Mobile Money remittance application in time to come,”
shares Von Lee, Founder and Chairman of Expand Group of Companies.
Announcing the same, Shailesh Naik, Founder and Group CEO of MatchMove commented,
“This initiative is aligned to MatchMove’s core values of improving the quality of people’s digital life and giving them access to essential financial services wherever they are. In these challenging times, we are fortunate to have a solution to help those in need fulfil their commitments to their family.”
“For our foreign workers who are quarantined, we understand that a key concern is their ability to send funds back home, which is often via brick-and-mortar remittance services.”,
said Bob Yap, Head of Deal Advisory at KPMG Asia Pacific.
“To help ensure their families continue to receive monies easily and quickly whilst keeping safe, KPMG leveraged our digital expertise, client network and collaboration with MatchMove to deliver this solution”,
explained Yap, who leads a group in KPMG supporting social causes and charities impacted by COVID-19.
Featured image credit: Unsplash