PURCHASE, N.Y.—Leap Financial reported it is partnering Mastercard to launch an embedded remittance service.
According to Fintech Finance News, the white-label solution allows financial and non-financial entities to place a “request remittance” button into their offering to tap into the remittance flows from the U.S. to Latin American and Caribbean countries, capitalizing on a $155 billion market.
La, La, La LOLA
The partnership introduces LOLA, an AI-based virtual agent that facilitates remittances through voice and text commands on popular messaging platforms like WhatsApp, Fintech Finance News said.
“This visionary use of AI makes remittances more inclusive and accessible, especially for populations less familiar with traditional banking systems,” Fintech Finance News said.
LOLA can also provide financial education when prompted, the report said.
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