BANCwire Is Not a Wire But a Bi-directional, Dodd-Frank Compliant Cross-Border Consumer Payments and Remittance Solution for Financial Institutions Worldwide

The Opportunity

The international payments sector continues to grow. Yet existing infrastructure is outdated and overpriced. BANCwire is a new structural paradigm, designed and priced right for low-value, high-volume, cross-border consumer payments. We offer opportunities for bottom line profit, customer acquisition, and brand-building to originating and correspondent businesses alike.

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The Network

BANCwire is a global network of financial institutions and businesses that facilitate cross border payments of all types. Network membership in the US is restricted to banks and credit unions. Outside the US, we serve not only banks but a wide range of licensed money businesses and merchants.

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The Solution

BANCwire is also the name of our software-driven payments and remittance solution. Our platform is faster and more affordable than Fedwire technology, and has been proven on tens of thousands of prior transactions. Facilitating transactions in either direction, BANCwire allows all network members to serve as originators and correspondents as desired. Our service resides in the cloud. It is white-labeled, allowing network members to build equity in their own brands with every transaction.

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Compliance

Compliance with Section 1073 of the Dodd Frank Wall Street Reform and Consumer Protection Act is a key component of our value proposition to US financial institutions. In fact, we are fully compliant with all US and applicable international laws and regulations, including those related to anti-terrorism efforts and transparency.

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Security

Secured with 128-byte encryption, triple DES security and state-of-the-art physical and technical security, BANCwire utilizes a closed, cloud-based network for application security. User defined privileges control all access to the application functions and data.

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The Company      BANCwire is a trademark of BANCServices International LLC.

Recent News

Lawsky to Banks: Speed Up Payments Innovation — Or Else

December 19, 2014

by Ian McKendry DEC 18, 2014 6:10pm ET WASHINGTON — Benjamin Lawsky, New York's top financial regulator, sharply criticized banks for their failure to speed up the payment sys...

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New Fund Offers Glimpse at P2P Lending's Next Stage

December 04, 2014

by Matt Scully DEC 3, 2014 6:10pm ET Blue Elephant Capital Management is planning to launch in January a second fund to purchase loans originated on online marketplaces, and t...

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Happy Thanksgiving

November 27, 2014

On this very special holiday we want to wish you and your family a very Happy Thanksgiving.  ...

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