RTPay – a real time financial consultancy

RTpay

A Real-Time Financial Consultancy

Foreign Exchange

RTpay.org acts as a non-profit advisory service for international organizations, NGOs and charities, primarily geared to lowering costs and enhancing value in all transactions. Its experience in foreign exchange flows, transaction processing and all aspects of risk reduction, including compliance requirements, is based on the many years of professional work of the RTpay consultants.

Current and recent assignments concentrate on:

RTpay does not hold any client funds or act in the transaction flow at any stage. It solely assists clients on the optimal management of their own funds. It may introduce suitable financial service providers as part of its advice.

For more information on our for-profit operations, see rtpay.com

Remittances

Lowering the cost of family donations and remittances to below 3%

We believe that by providing efficient and secure funding solutions, additional funds can be generated at a level at least equivalent to that which UNHCR currently has to provide. Making it easier for families to provide a direct, secure and reliable financial linkage with relatives who are still in danger or suffering deprivation, together with targeted assistance by churches, NGOs and other groups, will greatly relieve the burden on both the UNHCR and the SHS themselves.

See the full paper here: Refugee Solutions – The Clearing House

Process Auditing

Process auditing to enable NGOs to lower costs of delivering aid

ConsultantRTpay offers a free service to all non-profit organizations to evaluate the costs they incur in delivering support.

In particular, when funds are intended for foreign destinations, there can be hidden extra costs incurred in the foreign exchange rates used; an audit of past transactions can compare what would have been the best rates achievable.

Transaction processing fees for domestic transfers can also be far more expensive than necessary; this is a highly competitive market and one where RTpay can advise on finding the best, most cost-effective service.

Are there uses of mobile wallets, tokens, gift cards and cash deposit centers that can cut costs and increase donations? How to stay current with all aspects of fund raising is another function of the RTpay process audit.

In general, the collection of funds in domestic currencies and then working with others to achieve the best available currency exchange – in a single conversion – can achieve a far higher amount of foreign currency. Managing the delivery of the separate amounts to recipients requires expert knowledge of local banking and agent services; something RTpay can assist in selecting.

RTpay does not hold any client funds or act in the transaction flow at any stage. It solely assists clients on the optimal management of their own funds. It may introduce suitable financial service providers as part of its advice.

Please contact RTpay at info@rtpay.org to arrange to speak to one of our professional consultants.

 

Secure ID

Developing secure identification products for the unbanked, including the 60 million refugees and IDPs around the world

Many of the most needy refugees and IDPs are escaping from violent areas of conflict, often where the carrying of passports or ID papers could be extremely risky. This means they can arrive at camps with little way of identifying themselves; and given the fact that the camps are often limited to supporting particular refugees from one or more countries, those escaping from other countries will attempt to mislead the authorities as to their true origin.

Organizations such as the UNHCR have to make difficult decisions as to the applicants and whether they can remain in the camps. These decisions are always difficult; just because someone is an economic migrant, does that mean they are less needy?

What is an important additional factor is how to maker that choice only once; it should not be down to a lottery at each camp or government facility as to whether one person gets through the test.

Iris RecognitionThe development of biometric identification solutions has brought about ways in which we can have a secure, non-paper ID that can be read by appropriate authorities as to the status of the immigrant. In particular, the iris recognition system used by UNHCR in Jordan is capable of being extended onto many other countries, both as an overall ID but also as a way to secure payments.

Paying benefits, as well as remittances, can either be done via cards or, as generally preferred by the most needy, through iris-recognition at ATMs and POS devices at supermarkets. RTpay works with the best service providers to help develop this system in as many places as possible.

RTpay does not hold any client funds or act in the transaction flow at any stage. It solely assists clients on the optimal management of their own funds. It may introduce suitable financial service providers as part of its advice.

Please contact RTpay at info@rtpay.org to arrange to speak to one of our professional consultants.

Educational Systems

Analyzing educational systems for refugees to earn reliable employment

EducationA key aspect of RTpay is for EDUCATION in Turkey, Jordan and Greece, where short-term development of usable skills, social training and linguistic assistance can be provided to selected refugees.

Whether those jobs are eventually in the EU, mainly Germany, or in their homeland or where they are being trained, the necessary early learning can best be performed ahead of entry. Understanding and acknowledgment of the social structure of their intended destination is a prerequisite to gaining acceptance in the new environment.

It is important that the three component strands of education services are fully integrated.  The time available to refugees in the educational establishments will be limited to approximately 6 months. A fully integrated suite of learning and assurance pathways will provide the most efficient and effective approach to make use of this timeframe.

The three education strands comprise:

The 70:20:10 approach is increasingly being used for adult learning in organizations around the world. It forms the basis of most apprenticeship schemes – providing ‘real life’ experiential learning opportunities, learning from coaching, mentoring and through extracting lessons from the network of others. It also requires access to basic structured training to help get started.

The 70:20:10 framework requires designing for performance rather than for learning.  As such, much of the learning will need to be practical and performance-focused. Observational assessment will be a critical part of the process.

For more information on RTpay’s adoption of the 70:20:10 pedagogy, see RTpay Education Policy 702010

Get In Touch

We would love to hear from you..

Email: enquiries@rtpay.org

Phone: +1.561.278.7668

 

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