AID:Tech platform launch — international remittances with UNDP Serbia and the city of Nis
Tackling existing high costs (7.68%) where remittances make up close to 9% of the GDP in Serbia
International remittances can be expensive, even amongst increasingly accessible technology to address the costs, this is especially the case for the less developed countries. Serbia, a country where remittances constitute almost 9% of annual GDP, is a prime example.
In partnership with UNDP Serbia, we began to develop the solution from conceptualisation near the end of November 2016. Backed by UNDP’s extensive network and presence, the project identified the city of Nis as initial launchpad.
Using the AID:Tech platform, Serbs from abroad can send funds to friends and family in Serbia. Most uniquely, senders can direct the automate payment of funds for specific purposes, including utility payments. Underpinned by digital identity, project administrators are provided with ability to trace how funds are distributed via high-level administrative data — without breaching user personal data.