SentBiz and financial inclusion for MSMEs

In today's globalized business landscape, Micro, Small, and Medium Enterprises (MSMEs) face numerous challenges when it comes to international money transfers and payments. However, SentBe's innovative solution, SentBiz, is revolutionizing the landscape by providing customized B2B international money transfer and payment services tailored specifically for businesses. In this blog post, we will explore how SentBiz is driving financial inclusion for MSMEs, empowering them to compete in the global marketplace and overcome traditional barriers to international transactions.

Cost-Effective Solutions for MSMEs: Traditional methods of sending money overseas through banks often come with high fixed costs and currency exchange fees, putting MSMEs with smaller transaction volumes at a disadvantage. SentBiz addresses this challenge by offering a cost-effective alternative. With fees up to 50-70% lower than banks, MSMEs can significantly reduce their transaction costs, enabling them to allocate more resources to business growth and expansion.

Real-Time and Efficient Transactions: Time is of the essence in business transactions, especially for MSMEs. Traditional overseas transfers can take several days or more to complete, causing delays and affecting cash flow. SentBiz streamlines the process, often completing transactions in real-time or within a maximum of one day. This efficiency allows MSMEs to seize timely opportunities, make faster business decisions, and improve overall operational effectiveness.

Foreign Exchange Risk Hedging: Fluctuating exchange rates pose a significant risk to businesses engaged in international transactions. SentBiz mitigates this risk by applying its Automated FX Hedging System (AHS), an innovative foreign exchange risk hedging algorithm developed by SentBe. By removing the potential risks caused by exchange rate fluctuations, MSMEs can confidently engage in cross-border payments without worrying about sudden currency value changes impacting their bottom line.

Simplified and Convenient Process: SentBiz recognizes the need for simplicity and convenience in international money transfers. The platform has simplified the transfer process, eliminating the need for repetitive information entry and cumbersome transaction history management. MSMEs can now enjoy a user-friendly and hassle-free experience, reducing administrative burden and allowing them to focus on core business operations.

Enabling Global Business Expansion: With SentBiz, MSMEs gain the tools and resources to expand their business globally. By accessing customized B2B international money transfer and payment solutions, MSMEs can seamlessly engage with global e-commerce platforms, trading companies, and online platforms. SentBiz's services facilitate smooth cross-border transactions, enhancing MSMEs' competitiveness and enabling them to reach new markets, forge strategic partnerships, and unlock growth opportunities.

SentBiz is playing a vital role in driving financial inclusion for MSMEs, enabling them to navigate the challenges of international money transfers and payments. By offering cost-effective solutions, real-time transactions, foreign exchange risk hedging, simplified processes, and opportunities for global business expansion, SentBiz empowers MSMEs to compete on a level playing field with larger enterprises. Through SentBiz, MSMEs can access the financial tools they need to thrive in the global marketplace, fostering their growth, enhancing financial inclusion, and contributing to overall economic development.