e-Remittance: An Online Monetary Transaction Platform At Techmind Solution - A Final Year Internship Project Report 

Abstract

The remittances do face financial, legal, operational, fraud, and reputational risks
during the transmission of money from one person to another. There is the
possibility that remittances are disproportionate to the problem they are designed
to tackle. The efficiency of remittance services depend on being a competitive
business and should be supported by appropriate governance and risk management
practices.
The project entitled “e-Remittance: An Online Monetary Transaction Platform” is
completely centered on web based service that is supported by appropriate
governance and risk management practices. The System provides online money
transfer from one person to another with prevention of their misuse like money
laundering. The report contains user’s requirements, scope, system analysis and
design process, development process and tools used to develop the system.
The main purpose of this project is to develop an online, customer focused and
technology oriented money transfer product. Remittance system operating as a
business, provides a remittance service for a price to end users, either directly or
through agents. Research on existing system and user’s requirement was studied
and analyzed to create a system that can be beneficial and secure to all the end
users. The system uses Digital Certificate (Verisign/ Geo Trust) to make it secure.
Enabling end users to send and/or receive remittance transfers is the service that
the system provides.