Privier Inc. Banks

Privier Inc. products and services transforms the way bank customers transfer money to friends and family, by leveraging existing official bank channels online and ATM banking to create a fraud-proof approach to money transfer.

Privier's products and services are not one size fits all, but are customized with the money services business (MSB) customer in mind. To accomplish this, Privier has asked four fundamental questions:

1. Who is the MSB customer?

2. What is the average money transfer transaction amount?

3. What is the language spoken?

4. What is the average service fee paid?

KPMG provides banks with data that draws a clear picture on who the MSB customer is, the transaction amount(s), language spoken, average service fee paid, and number of money services business serving the domestic business, etc.,

The Data

KPMG 2005 Data Shows:

		$30 billion annual money transfers transaction volume U.S. state by state
		75% of domestic money under 500.00 dollars, and 10% under 100 dollars
		$12.95 dollars is the average fixed fee for domestic money transfers
		53,894 money services businesses (MSBs) in the U.S. serving domestic money transfers
		89.7% of MSB customers speak English

Instant Gratification

Americans that conduct money transfers at informal MSB's seek instant gratification for micro emergency money transfers that on average can be collected by a recipient in minutes. U.S. Banks can service these customers by providing recipients with instant access to cash, at the automated teller machine.

Target banked and underbanked recipients

Privier requires the bank customer recipient to hold a ATM/debit card with track 1 data, to pick up cash at the automated teller machine. With 507 million ATM/debits cards in circulation within the U.S., and 87% of Americans being either banked or underbanked, the bank customer's recipient will likely have the required card to be granted access to the automated teller machine.