SOURCE: EastNets


October 25, 2010 03:00 ET

EastNets Unveils New Mobile Remittance Solution at Sibos

AMSTERDAM, THE NETHERLANDS and DUBAI, UAE--(Marketwire - October 25, 2010) -  Sibos, Stand C-108 -- EastNets, a leading global provider of compliance and payments solutions and services, announced today it is unveiling its new mobile remittance solution at Sibos, hosted by SWIFT, at the RAI Conference Centre in Amsterdam.

EastNets new mobile remittance solution, en.MoRe, enables consumers to simply use their mobile phone to trigger a money transfer transaction in an easier, cost-effective and more convenient way compared with traditional remittance approaches.

"EastNets is delighted to be unveiling our new mobile remittance solution at Sibos," said Hazem Mulhim, CEO of EastNets. "With en.MoRe, financial institutions and mobile operators have a new platform to better serve their existing customers, and tap into this growing mobile remittances market by acquiring new customers who want to utilize this service."

EastNets has plans to expand the market coverage of en.MoRe starting with a many-to-many network between mobile network operators in 10 sending countries and banks in 15 receiving countries in the coming months. The service will be offered in key markets such as Pakistan, India, the Philippines and the Middle East. With this service, EastNets will help mobile network operators and banks to target the estimated 200 million migrant workers around the globe who send money to friends and families on a regular basis.

en.MoRe is a technology platform and payment scheme to enable banks and mobile network operators to interoperate globally. It allows mobile network operators to connect to a single hub that is already linked via SWIFT to more than 8,000 banks worldwide.

EastNets is currently in the process of obtaining certification for the SWIFTReady Workers' Remittance Label with its en.MoRe solution. EastNets can also offer electronic wallet services and solutions that comply with anti-money laundering regulations to simplify implementation.

About EastNets
EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. For more information, please visit

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