Transfer Rapid, the money transfer solution for Romanian expatriates

Transfer Rapid is a company founded by Anglo-Saxon capital and developed by Romanian professionals whose objective is to develop financial products and services for Romanians working and/or living abroad. The concept? To allow Romanian expatriates to send money to their relatives easily, quickly and in a completely secure manner.

Since its creation in 2005, Transfer Rapid has initiated a fruitful partnership with CEC Bank, one of the oldest financial institutions in Romania, which has the largest network of bank branches and is a banking brand recognised by Romanian citizens. This collaboration has resulted in a money transfer service that is distinctive in today’s market: multifunctional, low cost, secure and convenient.

To date, Transfer Rapid’s support teams and technology platform, together with CEC Bank’s highly trained representatives, have processed almost 10 million transfers without any system downtime. The integrity of the technology and the quality of service offered by Transfer Rapid and CEC Bank has generated unparalleled loyalty as evidenced by the recurring use of the system by 80% of existing customers.

Partnership with IDnow to optimize the KYC process

In order to comply with regulations and to secure transactions, Transfer Rapid integrates a KYC process into its customer onboarding. In this context, we have been supporting the company since 2020 to provide a fully automated online KYC process.

How does it work? Using our web SDK, each new customer is asked to capture their identity document for analysis, in less than 12 seconds by our fully automated document verification service.

The user is then prompted to make a facial recognition video, which assures Transfer Rapid that he is who he says he is behind the screen.

No more waiting around and no more fraud, now every new customer can complete a seamless and secure registration in less than 3 minutes.


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