Bud chosen by Jazari to improve remittance process for migrant communities

Global ‘remit now, send later’ platform Jazari has chosen Bud Financial’s AI-driven financial data platform for banks, to make remittances faster, easier and more cost effective for migrant communities.

Jazari was established to address an ongoing issue for migrant workers, who often have limited incomes or access to credit and frequently need to remit money to family members, due to persistent high inflation and rising living costs in their home countries.

Through Jazari, customers have a single platform through which to bank, remit and pay later.

According to Jazari, its bespoke instant credit product ‘Remit Now Pay Later’ enables migrant workers to remit up to 40% more.

Jazari is backed by a strategic multi-region partnership with Visa and has secured a recurring credit facilitator to support its lending capabilities.

Now, with the Bud Financial platform integrated into its technology, Jazari aims to enhance the remittance process, so that both senders and receivers have the ability to achieve long-term financial stability.

Bud’s chief operating officer George Dunning

“At Jazari, we’re on a mission to pioneer Remit (Send) Now, Pay Later for migrant workers, empowering individuals with little or no access to credit,” said Hasnain Sheikh, founder and chief executive officer of Jazari.

“After an exhaustive search for the right partner, we’re thrilled to work with Bud, whose innovative financial connectivity and exceptional team made them the clear choice.”

Sheikh added: “Together, we’re embarking on an exciting journey to transform how migrant workers send and manage money, creating opportunities and breaking down barriers along the way.”

Jazari initially launched in the UK and Pakistan, and is set to expand to the UAE and Europe.

“Central to Bud’s mission is our goal of enabling financial data to support the average consumer – from insights to better understand their finances, to getting access to lines of credit previously not available to them,” said George Dunning, chief operating officer of Bud Financial.

“The work that Hasnain and the team at Jazari are doing is truly inspiring and meets real-world problems for underserved customers. At Bud, we feel privileged to help bring this to life and be part of its success.”

Further reading: Bud establishes European footprint