While successfully running a travel agency in Pune for years Mrs Shweta Chandele learned all about traveler penchants and what matters to make them happy. She works on miniscule details while planning travel packages. While serving international travelers one hassle she always encounters is availing foreign exchange (forex). Forex market is extremely speculative in nature and currency rates fluctuate few times daily. Customers are often at the receiving end by paying more for rate fluctuations. Most of the retail trade happens at local stores. Customers have to call several dealers and picking up a dealer is arduous task. This is where Shweta decided to simplify forex for customers. She shared her experience and sought solutions from her spouse Amit, & friends Seema & Hemnandan. This team decided to use technology to get rid of these hassles and hence a new start up and a new mobile app ‘Currency Exchange’ was born.
So what is the innovation?
Shweta & the team founded Deltin Globus Solutions LLP, a technology start-up in Pune and the company launched ‘Currency Exchange’ mobile app. The app provides largest & unique market place for buying & selling forex across 85 cities in India and more than 200 pick-up locations, all at user’s fingertips! Customers can select delivery to home or office and beat the traffic! Currency Exchange app is the quickest app in the market to complete a forex order and offers best exchange rates. A user with very few clicks locks the live rate & completes the order instantly avoiding hassles to call Forex dealers. The app offers the best rates by going through the quotations of different channel partners in real-time.
All transactions using Currency Exchange app are secure and comply with RBI guidelines fulfilled by licensed currency exchange dealers. Customers can pay using options such as cash on delivery, debit card, or net banking. “With our best in class technology solution in the market, market leading channel partners such as banks & RBI licensed exchange dealers, & our vision of delighting customer, Currency Exchange is the best platform in the market currently” claims Shweta with pride.
This app is available on Android Play store and Apple store. One can search using key words like ‘Deltin’ or ‘Currency Exchange’ on Android or IOS store.
Scope for Deltin's marketplace:
Current focus of Deltin is to serve the retail forex market in India. To begin with, this app attempts to serve 50 million Indian international travelers and more than 500,000 Indians studying abroad. Indian daily forex market turnover is $50 Billion for both interbank and retail sectors and later represents a smaller piece of the pie.
What problems this app will solve in the current market?
Deltin aims to provide transparency, best rates, remove hassles by improving ease, delivery speed, & safety in a 100% compliant environment.
Forex market is extremely speculative in nature and currency rates fluctuate very frequently. Deltin aims to bring complete transparency in forex buying and selling. Using the app, customers are able to buy at rates what they see on the screen.
Most of the retail trade happens at local stores. Record keeping of these transactions is a challenging task for currency exchange dealers. Most of the transactions follow non-ending paper trail adding delay in service. Deltin completely removes need for paper transactions. End-to-end buy or sell process is fully automated by this app. Even documents like passport can be uploaded simply by capturing image using the smartphone.
Most retail forex trade transactions are in cash, often putting customers at risk of carrying cash. Deltin provides home delivery option and improves safety for customers. Moreover, Deltin provides travel cards issued by leading banks that completely removes need for carrying cash abroad.
And lastly Deltin takes out hassles of ordering forex completely. Completing an order on Currency Exchange is matter of seconds. Choosing payment options is very convenient including payment on delivery. And all transaction history for a customer is provided in a secure manner.
Where is Deltin today and what’s next?
In less than 4 months after launch, this app has been downloaded by more than 15,000 users and used by thousands of them to exchange currency. Customer feedback is very positive with outstanding rating for app & last mile delivery services. “Deltin aims to continue building strong user base and establish itself as the first choice for all forex retail & related services in India” concludes Shweta.
How to get the app?
App is available at the following links: www.ceforex.in
Google PlayStore (Android): https://play.google.com/store/apps/details?id=com.pedkai.fxexpress
Apple Store (IOS): https://appsto.re/us/J80Fab.i
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