Yugabyte and WorldRemit enter into a strategic partnership
By Joy Dumasia
The London-based payments firm has agreed to take a software subscription for Yugabyte’s high-performance distributed SQL database, in addition to full global 24×7 support. Yugabyte will now help this fast-growing FinTech improve service resilience via transparent two-way failover, boost internal regulatory compliance procedures, and reduce operational costs.
WorldRemit serves 5.7 million customers using 70 different currencies across 130 countries worldwide and offers multiple zero-fee options for sending transfers overseas, including bank deposits, mobile money and cash pickup. Yugabyte officially established its presence in EMEA in May with its European HQ in Surrey, and the firm is already accelerating its business and team growth across the region.
Mark Watson, Chief Technology Officer, WorldRemit, said: “Technology resilience is fast becoming a regulatory and business obligation in the fast-growth FinTech industry, and we see YugabyteDB as a key component in the way we address that challenge. We have to carefully tune standard Postgres databases to get the performance YugabyteDB gives us out of the box. That’s the icing on the cake for us. It’s simply Postgres for the cloud-native world.”
Martin Gaffney, Vice President, EMEA, Yugabyte, said: “It’s a huge honour to have been chosen by such an important and ambitious financial services leader as WorldRemit. We are excited to support the next phase of its digital transformation journey and appreciate that this decision was confirmed after extensive real-world stress testing of our tech capabilities, to prove only our approach to cloud transaction support can truly deliver.”
Recently, IBS Intelligence reported a strategic collaboration between inwi money and WorldRemit, the global online money transfer service provider, and MFS Africa, a leading Pan-African FinTech that operates one of the biggest e-payment platforms in Africa.
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