CAPE TOWN, South Africa, Oct. 8, 2019 /PRNewswire/ -- Global Voice Group is proud to announce the official launch of X-Stream, its cutting-edge digital platform for transaction intelligence and compliance verification. Primarily intended for banking and financial authorities, this innovative solution can cover all types of transactions made through digital/electronic modes, including remittances, mobile money and other cashless transactions.
Electronic payments and transactions are becoming the norm worldwide. Digitalization is reshaping the economy everywhere, prompting Banking and Financial Authorities to adapt and digitalize their own methods of overseeing and regulating the whole transaction ecosystem. Even emerging countries with large unbanked populations are witnessing an important shift from cash to cashless transactions, notably through the fast-growing penetration of mobile money services.
X-Stream is the first platform that fully accounts for this increasing digitalization. It provides Central Banks, Financial Intelligence Units and other relevant authorities with digital means to obtain real-time transaction metrics, perform in-depth analyses and thoroughly verify the compliance of transactions. X-Stream also automates the detection of transactions potentially linked to money laundering and other criminal activities. It uses the biggest criminal and financial databases in the world to background check these transactions.
As James Claude, CEO of GVG, pointed out: "In many emerging countries, including those where GVG operates, governments and banking authorities strive to promote a fair, compliant and inclusive digital ecosystem. They want to be very proactive about it. With X-Stream, they can now reach this high level of proactivity and visibility."
About Global Voice Group
Founded in 1998, with its main offices in Spain and South Africa, GVG has rapidly grown to become a prominent provider of world-class IT solutions to governments and regulatory authorities. The company works with governments and State agencies across a number of critical areas, including telecom regulation, mobile money and monetary transactions oversight, electronic tax solutions, and revenue mobilization. Overall, GVG assists governments and authorities in their digital transformation and the effective promotion of a compliant and truly inclusive digital ecosystem.