Balad-How it works.pptx
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This document discusses Balad's proposal to provide a digital financial services platform to facilitate money transfers from migrant workers in the UAE to their families in Egypt. It proposes a partnership model between Balad, UAE banks, and Egyptian banks to allow migrants to transfer funds from their salary cards to their family's Balad prepaid cards with low fees and instantaneously. The document outlines how migrants and their families would digitally onboard and KYC verify their identities, how funds would be transferred daily from the UAE bank to the Egyptian bank in a bulk amount and disbursed to family cards, and how family members would receive their Balad cards after signing a KYC form and having their IDs verified.
Balad-How it works.pptx
- 1. Solving Money for Migrants and their Families
- 2. Transformation 2 Balad | Pitch Deck Current Balad Migrant ATM Cashout EX office Bank Trading Room Bank EX office Family Member/s + Migrant Salary Card Balad Meeza Card Family Member/s 360 Financial Services Balad 5% FEES | 2-5 DAYS < 2% FEES INSTANTANOUS
- 3. UAE-Egypt Corridor 3 Balad | Pitch Deck Limited Licensing Needs through Partnership with Banks Partnership Model Balad: Partnership for B2B2C with Salary Card providers and Marketing UAE Bank: Compliance with remitance requirements, cost saving for transaction and FX rates by daily batch processing Revenue Share on Remittance Fees Balad: Customer acquisition, Cashback deals, Payment Solutions, Partnerships EGY Bank: Sponsoring Balad for Agent-Bank License, Bin-Sponsorship Cost Share: Marketing & Card Issuance Revenue Share: Float, Interchange and transaction feed Clients are originated through Balad B2C and B2B2C models Clients initiate remittance through the Bank Portal from within the Balad App Remittances are executed Bank to Bank with a daily Batch Disbursements onto Balad Meeza Cards Clients are originated through Balad B2B2C Model Referral from Migrant Worker Onboarding and KYC according to Partner Bank requirements Balad covers the full end-to- end card processing client management, & partner management Bank executes transactions and holds the float 1 2 3 Issuance of Balad Meeza Cards Bin Sponsorship Meeza Cards Remittances Cards
- 4. How It Works 4 Balad | Pitch Deck Balad Family Migrant Home Country Host Country Migrant Register Account Account Activated Digital KYC Verify Identity Verify Mobile OTP Link Salary Card to Balad App Digital KYC Verify Identity for Family Verify Mobile OTP Deduct Money from Card through Partner Bank Family Member/s open Balad Account/s Issue/Deliver Balad Prepaid Card/s Money Disbursed to Balad Card Invite Family Members Receive Notification when Family members are Eligible Transfer Money to Family Member/s from Salary Card
- 5. KYC Onboarding 5 Balad | Pitch Deck UAE E2E Digital onboarding using UAE Pass EGYPT Transit process till launch of national digital identity early 2023 Migrant Family Member/s Migrant Scan NID Front/Back & Take selfie Integrations through APIs AP I UAE Bank Cleared according to UAE requirements integration EG Bank Cleared according to EG requirements Seamless Experience Scanning of NID, taking selfie and editing data is done through our app directly in seamless UX. Trusted Beneficiaries Trusted beneficiaries would reduce matched clearance time significantly for frequent remittances. Signed Document KYC form is signed by family members in Egypt before delivering the card. Integrations & Partnerships we integrate to provide NID data extraction, photo verification and optional AML/sanction list matching
- 6. Remittance- Money Flow 6 Balad | Pitch Deck Balad EG Bank UAE Bank Home Country Host Country Deduct Money from Migrant Card Money loaded to family member Card instantly Transfer Money one trx per day through swift Accumulate daily trx Receive bulk amount in pool account Use overdraft/debt facility to load cards Load bulk amount in debt account Calculate balad revenue share Transfer revenue share to balad account
- 7. Family member- Onboarding/Card delivery 7 Balad | Pitch Deck Balad OPS Family member Balad CX Notified with new family member registration Verify uploaded document Call member for verification Schedule visit to balad branch FM signs a simplified KYC form & provide NID copy review NID copy against original & sign the copy Deliver a non personalized meeza card Link card UID (printed on envelope) on balad app FM set card PIN through app Card activated with limited cap Card limit increase once KYC cleared from bank Change status of card to Activated- system will notify Migrant Scan KYC form & NID Upload scanned copies to shared sFTP with bank
- 8. Integrations 8 Balad | Pitch Deck Vestibulum congue Vestibulum congue UAE Identity UAE Pass
- 9. +20 10 999 79292 www.balad.me adham@balad.me Contact us