Sendsprint has announced the acquisition of Nobel Financial , a US-based global remittance service provider, as part of its expansion into the US market. Nobel Financial specialises in international remittance services from the US to over 32 countries across Africa, Latin America, Asia, and the Middle East.

The company also offers in-kind gift options, allowing users to send items such as bags of rice to recipients in Africa. Over the past decade, Nobel Financial has facilitated fund transfers for more than a million customers globally. The acquisition enables the company to support money transfers and gifting services from 16 US states, including New Jersey, Maryland, and Georgia, to recipients in African countries such as Nigeria, Ghana, and Kenya.

For US users, the service offers fast, secure, and low-cost transfers to Africa. Customers can also send gifts from over 3,000 retailers, including major brands like Shoprite, Dapper Monkey, Jumia, and Cake City. Additional benefits include a simplified user experience, exclusive deals, rewards, and no requirement for wallet deposits.

Users can begin transferring money or gifts by signing up or downloading the mobile app, which guides them through the process in five steps. Regulatory and compliance factors The acquisition of Nobel Financial brings with it a commitment to stringent regulatory and compliance standards essential for operating in the cross-border remittance industry. The company is aware of the complex regulatory landscape governing international money transfers, particularly in the US, which mandates strict adherence to laws such as the Bank Secrecy Act (BSA), the USA PATRIOT Act, and various state-specific money transmission regulations.

These regulations are designed to prevent money laundering, terrorist financing, and other financial crimes, and the company ensures that all operations are conducted in full compliance with these legal requirements. To meet these regulatory obligations, the company has implemented AML and counter-terrorism financing (CTF) programs, incorporating technologies such as transaction monitoring systems and customer due diligence processes. These systems are designed to detect and report suspicious activities in real time, ensuring that all transactions are secure and transparent.

Additionally, the company maintains comprehensive records and reports as required by regulators, undergoing audits to verify compliance with both US and international financial regulations. By adhering to the highest standards of security and legal compliance, the company reinforces its commitment to protecting customer funds and data, while also building trust in its services. This approach to regulation and compliance is a key factor in the company’s ability to operate in the financial services industry.

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