A journey across oceans: Becoming a banking-as-a-service provider for immigrant

3 mins
January 7, 2022

Machnet Technologies Inc.

Banking as a service provider for immigrants

More than a million people from all over the world migrate to the USA every year to chase their dreams. But upon their arrival, reality throws a wrench at their ‘pursuit of happiness and success'. From opening a bank account to building a credit score to rent a place, access to financial services limits immigrants’ agency and their success in the land of dreams.

Having experienced the struggles of immigrants, directly and indirectly, Machnet Technologies Inc. has set out with the vision to improve access to financial services for immigrants. To do so, we are democratizing cross-border payments and meeting the immigrants where they are, not where they have to be. Our clients provide catered and accessible cross-border payment services to the many immigrants in the US through our API. 

While the journey has not been easy thus far, there are still miles to go. We are expanding from just payments to a banking-as-a-service platform, especially focusing on the cross-border ecosystem.  

We started our journey to help small and medium businesses to launch their remittance applications in the U.S. Our unique model took us a few years to build along with setting up the regulatory, compliance and banking infrastructure. 

In 2015, our first client launched their money transfer platform. It was a huge success as they were already serving the Nepali diaspora by allowing them to send gifts to Nepal and now we're adding an additional money transfer service vertical. And now, clients are using Machnet’s API to send money from the U.S. to the Philippines, Thailand, Kenya, Nigeria, Ghana, Liberia, Armenia, E.U. Mexico, and many other countries.

We sure have faced multiple regulatory hurdles during our initial journey. But the challenges have made us more solid and dedicated. Even when our business model was questioned by US State Regulators, we fought the long and painful battle. Simultaneously, we also built multiple integrations with financial institutions, technology service providers, last-mile payouts, etc. to expand our reach throughout the globe.

Today, Machnet has successfully met its first goal to provide a single programmable API to our clients to build beautiful remittance applications for their end-users. Now, we are moving forward to achieve our larger vision. We are building to enable our clients to operate digital banking as-a-service for immigrants in the U.S.


Our single API for banking, compliance, fraud/risk assessment and cross-border payment rails. If you are looking to launch your domestic or cross-border payment services in/from the U.S. with a pocket-friendly investment, Machnet is the best choice for you. 

If you would like to understand how the Machnet Application works and build a product, get started at sales@machnetinc.com

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