Eastern & Allied is a leading Australian digital-first provider of international money payments services and foreign currency exchange services that operate through three brands – Hai Ha Money Transfer, Remox, and First Eastern FX.
Eastern & Allied puts its customers at the heart of everything it does and provides an essential service to customers in Australia that impacts the lives and businesses of those overseas. Eastern & Allied understands that its customers trust the company with our money and treats every customer and transaction with care and security.
From our earliest beginnings until now, Eastern & Allied has worked strategically with innovative fintech companies like Monoova to bring new and emerging technologies with the aim of serving our customers better.
What was the problem you were facing for you to seek out Monoova’s expertise?
Two essential success factors in providing money transfers include speed and security, not one without the other.
Accessing the latest available and most efficient technology and techniques to improve the way we bring speed and security to our transaction processing is critical. And with the growing trend for online money transfer services, this has become critical.
Eastern & Allied continues to develop its online platforms to assist customers in sending money more efficiently. We offer various secure payment methods for our online customers. Normally, it takes 24 hours for us to receive payments from our customers and our operations team has to manually match the payments with the sender’s details to ensure compliance with our processes. This procedure is time-consuming and slows down our processing transaction time frame.
What Monoova products/solution are you using to assist problem?
Monoova provides real-time payments with data-rich information that helps Eastern & Allied to save time and resources spent on manual approvals.
With Monoova, we can replace our manual and complicated payment-approvals approach with our NPP products that gives our operations teams an effective tool to complete our tasks.
It helps us to sight our customers’ PayID transactions in real-time with immediate payment notifications. Monoova also provided advice on how our PayID product should be set up to best suit our client behaviours. Monoova was the right solution because of its simplicity, flexibility, and reliability. And the team is great to work with.
Can you share any metrics/KPIs that show the success you have enjoyed with our service?
Fast delivery is one of the key unique selling points which our customers trust in Eastern and Allied in sending money to our beloved ones overseas.
Since adding PayID, our delivery timeframe has been improved dramatically. Instead of 24 hours as before, we now can shorten the payment time up to a few hours, which improves our customer satisfaction and increases conversion. After just a few months, 25% of our customers see the benefit of paying via PayID.
Was there anything about the process that positively surprised you? What have you been most impressed with?
The Customer Success team have been really responsive and proactive with us to ensure timely responses and a can-do attitude in supporting our requests.
You can find out more about Eastern & Allied and their brands via the links below:
Monoova Payments Pty Ltd (ABN 38 126 015 227) trading as Monoova (“Monoova”) is the authorised representative of Monoova Global Payments Pty Ltd (ABN 77 106 249 852; AFSL No. 421414 ), the issuer of the Combined Financial Services Guide & Product Disclosure Statement Non-Cash Payment Products and Services dated 20 September 2023. (FSG/PDS). This information is given in summary form and does not purport to be complete. To the maximum extent permitted by law, Monoova does not assume responsibility for, the content, accuracy or completeness of the information presented. Before acting on any information you should consider the appropriateness of the information having regard to these matters and seek independent legal, financial and tax advice. To the extent that the information contained above is sourced from third parties or provides link to third party websites, Monoova takes no responsibility for the accuracy, currency, reliability and correctness of any information included in the material provided by third parties nor for the accuracy, currency, reliability and correctness of links or references to information sources (including internet sites) operated by third parties.