what is Remittance Management System ? how it work??

1. •Presentatio
n onRemittances
Management
System

2. Md. Safayet Hossain

3. Abstract
Remittance management system is a system which process how a user in foreign country transfer remittance to home
country.
Remittances represent household income from foreign economies arising mainly from the temporary or permanent
movement of people to those economies.
Remittance management system is a system which process how a user in foreign country transfer remittance to home
country.
We are representing the whole remittance manage system.

4. Centralize system for transparency.
Centralization
Automated exchange control across the different
Central Bank Monetary Zones over world wide.
Automated exchange
Remittance transaction management system.
Transaction SystemA retail solution that render domestic and continental person-to-person
funds transfer services through bank branches of member affiliate banks
and the internet.
Retail Solution
Remitter and beneficiary information system.
Information System
Making smooth and secure process.
Processing
Objectives

5. Introduction
Remittance is a Funds Transfer system which is a robust multi-channel Person-to-Person (P-to-P) payments and funds
transfer solution that provides for the seamless processing & administration of funds transfer transactions originating
from channels such as Web, Bank branches, Mobile phones and ATM terminals, terminating as Cash or Direct Account
deposits.
Usually, when people of home country stay abroad and they try to send money to home country, they face overhead to
transfer funds. That time remittance word comes to provide best solution.
Remittance management system is a online based system where bank or provider can control the whole process.

6. Project Requirements
Project requirement are conditions or task that must be
completed to ensure the success or completion
of the project.
There are many types of requirements, such as –
Main Requirements
Secondary Requirements

7. Main Requirements

8. System Requirements
Web Portal
Minimum Hardware
Database Server
VPN Access
Skilled Employee

9. Process of RMS
Bank collects the remittance from houses of different foreign countries.
This exchange house collect money from the customers and then send
information about the customers to the bank.
There are two processes for sending the information to the bank.
• EFT(Electronic Fund Transfer)
• SWIFT(Society for worldwide inter bank fund telecommunication)
After receiving this data bank process this data with
the help of a customized software which is prepared
for process this data. This software is called
Remittance Management System (RMS) software.
Some high quality, energetic, IT specialist and
dynamic young group are engage to ensure the
faster and swift service to the customers.
The exchange house collect information from
the customer’s regarding their policy

10. Function of System
Authorization
system
Automated
transaction
system
Provide list of
available bank
Notification
System

11. Feasibility Study
Lack of Information
Delay during process
Poor service
Unsecured processing system

12. User
Home
BankTransaction
Verification
Input User Info
Reports
Information
Request for send Money
Request for Input
Save Information
Read Information
Inquire
Inquire Confirmation
Save ReportsRead Reports
Verification
Verification Confirmation
Transaction Report

13. Minimizing Process
Delay
Skilled Human
Resource
Alternative Goals
Upgrading Technology
Ensuring Security and
Efficiency
Developing Information
System
Wide Length of
Coverage

14. Future Plan
Fully User based system
Less processing time
Optimize system
Highly Secured Transaction

15. Conclusion:
Main goal of Remittance Management System was to ensure foreign currency to Government reserve, but primary objective is
to send funds to home user.
Earlier, there was also Remittance Management System. Which was classic and insecure. Communication was done over
telephone and information was saved in paper book.
Currently, Remittance management system is more developed then earlier. Also different types of system comes in
environment.
Analyst are thinking to developed more efficient way so whole system can work faster then current one.