Dentsu Research and BIPROGY Collaborate to Automate International Remittance Services

Dentsu Research and BIPROGY Join Forces

In a significant move to enhance the automation of international remittance operations, Dentsu Research, headquartered in Minato, Tokyo, and BIPROGY, based in Koto, Tokyo, have announced a strategic collaboration aimed at facilitating cross-border remittance services for overseas financial institutions. This partnership brings together Dentsu’s extensive sales channels for global financial institutions and BIPROGY’s robust remittance workflow solution, SurFIN, to streamline and improve the efficiency of money transfer operations.

Background of the Collaboration

With the rise of cross-border e-commerce and the increasing diversification of business transactions, the demand for international remittance services has surged. The G20 has recognized this growing need and set a roadmap to improve cross-border remittances by the end of 2027, highlighting the urgency of refining remittance operations in the global context. However, despite advances in the international standard for remittance messages, ISO 20022, many financial institutions still grapple with legacy systems and manual processes, making it challenging to meet the G20's goals.

Dentsu Research has cultivated in-depth knowledge and expertise through its support of system development and implementation for financial institutions. Coupled with BIPROGY's proven track record and functional superiority of SurFIN, the two companies see a mutual benefit in advancing their global business strategies.

Overview of the Partnership

SurFIN is an innovative workflow solution that automates the process from remittance reception to message transmission, ensuring efficiency in financial institutions. As of now, the solution has been implemented in 40 domestic financial institutions in Japan. Under this partnership, Dentsu Research will leverage its overseas network for sales activities, implementation support, and customer inquiries, ensuring smooth service delivery to international financial institutions. Meanwhile, BIPROGY will provide the necessary system development and operational support for SurFIN, reinforcing the service delivery framework.

By utilizing the strengths of SurFIN, both companies aim to enhance the efficiency of international remittance operations, offering users a faster, more accurate, and transparent remittance experience.

Comments from Leadership

Hideto Sato, Senior Executive Officer at Dentsu Research, expressed enthusiasm about the partnership with BIPROGY. He emphasized that the landscape surrounding cross-border remittances is undergoing a significant transformation, partly due to the push towards the adoption of ISO 20022 and straight-through processing (STP). Financial institutions are now required to enhance their operations more than ever, prompting the need for practical solutions that blend technological innovation with operational expertise. He is confident that by combining their respective strengths, they will effectively support the transformation of financial institutions.

Tomonori Kanai, an Executive Officer at BIPROGY, echoed similar sentiments about the collaboration. He noted the rich knowledge and network Dentsu possesses in the realm of international remittance operations as essential to realizing their global vision. The partnership aims to amalgamate both companies' strengths, contributing to the efficiency of overseas financial institutions and improving customer experiences.

Future Developments

Moving forward, Dentsu and BIPROGY are committed to establishing SurFIN as the global standard solution for cross-border remittance operations. Their initial focus will be on Japanese banks' overseas branches and financial institutions in Asia, with plans to progressively expand into European and American markets over the medium to long term.

Additionally, both firms will continue to develop the functionality of SurFIN and explore new regions for its deployment. There is also a shared vision to expand their offerings to support operational efficiency, compliance, and enhanced customer channels for international financial institutions, aligning their efforts with the G20's initiative to improve cross-border remittance solutions.

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