Liri Holdings-iAccount ewallet: Discovering the Unique Possibilities of FinTech

Samuel Appadoo, SVP

What could be the consumers’ expectations from a bank, in this age— easy transfers, online banking support, and customer service? Certainly, but with the assurance of fastest possible turnaround time. Imagine, an individual approaches a bank to transfer money to an international bank account but due to the bank’s reliance on legacy systems and obsolete technologies, they can’t process the request on time. But access to banking services, especially for international transfers through a mobile device can prevent the consumers from such experiences and save a great deal of time. Liri Holdings Limited through its e-wallet platform known as i-Account, facilitates that; allowing everything from quicker remittance services to opening an account, performing international wire transfers, payments, and currency exchanges without visiting the bank, in a speedy manner.

The company was founded in response to the customers’ demands for an improved banking experience, especially with reference to international transactions at a cheaper cost. As a FinTech company, Liri Holdings offers e-wallet solutions, money transfer, prepaid debit card solutions, and FOREX trading platforms to the retail and corporate customers through different entities and partners worldwide focusing on each of these solutions. Through Liri Holdings’ i-Account, customers can receive funds and make remittance transactions on the move, through a mobile device or laptop. i-Account is an e-wallet solution that acts like a virtual bank account available to the individual as well as corporate customers. It works like internet banking; a user can carry out transactions using i-Account. Those using i-Account also get access to the prepaid debit card solution to withdraw funds from ATM globally as well as POS (Point of Sale) transactions including online purchases.

The Company’s international network of banks and payment partners allows it to negotiate on the cost structure of the transactions and therefore, facilitate low-cost transactions

The prepaid debit card offered by i-Account comes as a well-suited solution for making payments to the overseas workers or family living overseas, and is also a cost-saving mode for organizations as foreign exchange is possible within the i-Account. The company also provides an online trading service for FOREX traders. Its international network of banks and payment partners allows it to negotiate on the cost structure of the transactions and facilitate low-cost transactions.

Apart from payment platforms and remittance services, the company initiates investments in Bitcoins. Liri Holdings can convert clients’ Bitcoins into foreign currency and vice-versa. This means that the i-Account e-wallet can hold Bitcoins for its clients.

“We listen to our customers’ needs and understand their requirements, after which we customize our solutions for every client, which is the key feature of Liri Holdings. We do not provide off-the-shelf packages, we provide tailor made solutions to our clients,” says Samuel Appadoo, Senior Vice President of Liri Holdings.

Being in the FinTech industry, Liri Holdings judiciously invests in the IT infrastructure and keeps pace with the latest technological trends. The company’s primary focus is to keep its clients’ data confidential and employs latest firewall technologies and disaster recovery solutions to prevent any breach of information and system breakdown. Liri Holdings is a licensed e-wallet company and follows the regulatory standards mandated by the Hong Kong government.

Considering the fact that certain banks are very reluctant to collaborate with the FinTech companies thinking they will overthrow the banks. “I don’t think FinTech industry is going to affect the banking industry right now, but it will have an effect in the next 5 to 10 years. So, we need banks to understand that FinTech companies will drive the future of finance and trading and hopefully the banks will change their philosophy one day and adapt,” mentions Appadoo.

With offices in Hong Kong, Shanghai, Taiwan, South Korea, Philippines, Singapore, Ireland, United Kingdom, New Zealand, Hungary and UAE, Liri Holdings intends to lay the foundation for new offices in Africa, Europe, the Carribean and the Pacific region thus making a global impact. The company’s mission is to provide services with more ease and convenience than that of the conventional banks.