As the world shifts from traditional to digital, it has brought tremendous opportunities to ease money transfer and task management back home. Friends, family, agents, and banks are terms that people used for the longest time till technology taught us otherwise. Migrants used these old practices of sending money back home for years which involved asking loved ones for favors, standing in long queues at a bank, and going to an exchange agent very common. Sending and receiving funds back home was time-consuming and costly until the introduction of the digital remittance model.
Traditional Remittance Model
Remittances provide millions of families with the basic needs and financial security they need to live. Without these remittances, families in developing countries would not be able to survive. Despite the dire need and significance of remittances, they have remained stuck in inefficient models for a very long time. The traditional remittance model was the only way people knew how money could transfer from one point to another. It is all an expensive, complex, and inefficient hassle. Furthermore, the users of this service have reportedly identified the following gaps:
- It is not the most appropriate option for those with no bank account.
- Speed is not the greatest as money transfer takes days and is not the most convenient channel if one wants instant cash.
- It is not a 24/7 service; hence it is not accessible all the time. The delays in this model are very common.
- It is not ideal for sending money through agents in times of emergencies, hence it is not ideal.
- It is prone to fraud and misuse of money as vendors are not verified or trustworthy.
Thus, it is evident that traditional remittance models are costly. In addition to that, several other issues include questionable vendors and money not being delivered timely.
The Shift to Digital model
Over the years, there has been substantial growth in FinTech money transfer companies. Named one of the most innovative FinTech companies in the USA, InstaKin, a Y Combinator-backed startup, is standardizing this industry and has completely changed the way migrants interact with their families back home. Thus, InstaKin continues to expand its offering of last-mile services back home. Here’s how InstaKin is bridging the gap between migrants and their home countries:
From HEC attestation (Educational documents) to get a police clearance (Legal documents), InstaKin manages all your documentation-related tasks.
- Property management
From buying and selling of your assets to property valuation, InstaKin provides a One Window Solution for all your property management tasks back home.
- Legal Services
From getting your company registered to deal with any local civil matters, InstaKin is a one-stop solution for any legal services that you may require. We connect you with verified vendors.
InstaKin offers a dedicated team of specialists committed to delivering exceptional service and advice to our customers for Immigration. Contact us today.
- Special Request
InstaKin’s Concierge service helps you to request any service back home. Just post a request with your order details, and we will get it done.
- Gift Delivery
InstaKin makes it easier for ex-pats to send customized gifts to their friends and family with a fast, secure, and highly reliable ordering process.
Our Customer App
Safe, instant, and convenient – InstaKin’s App for both Android and iOS users. Our algorithm matches customers’ requests with the most relevant vendors based on availability, location, service, type, ratings, and service levels. Key features to securely provide immigrants with access back home:
- Secure Transactions
- InstaPay for payment security
- Multi-Payment Options
- Digital Wallet
- Community Chat & Message Boards
- Vendor Collaboration
We Offer Pakistani Migrants the InstaKin Guarantee
With InstaKin around, you don’t have to rely on unverified and questionable vendors in your home country. We guarantee to provide you with operational, verified and trusted vendors through a quick, accurate, and compliant financial platform. Our motto is taking care of all your needs back home while you sit back, relax, and focus on your everyday life.
At InstaKin – We believe in empowering Migrant Communities. You can count on InstaKin’s platform to manage all your tasks back home. Post a request or become our partner today.