Innovative technology and the well-being of seafarers at the heart of a new secure banking solution for the maritime industry
MELBOURNE, VICTORIA, AUSTRALIA, December 7, 2021 /EINPresswire.com/ – Amid an industry-wide movement to put the well-being and standard of living of seafarers at the forefront, Secure Seas launched a new secure banking solution for seafarers and their employers.
The innovative electronic payment platform provides financial security to seafarers by transferring their payroll electronically, removing the outdated and problematic system of distributing money in US dollars. This provides seafarers with basic amenities that the rest of us take for granted: full access to their funds in the currency of their choice, the use of an international, non-jurisdictional bank account, and debit card to withdraw money or transfer money, and the possibility of making payments by computer or smartphone.
âThere is a real disconnect between the way sailors perceive and manage their pay compared to most other industries, and this is something that we are trying to address,â says Warwick Norman, director of Secure Seas.
“We want to allow the maritime community to have better control over their finances, and our bank account and our bank card help to make life at sea and in the port more in tune with everyday life”.
Besides the many benefits for mariners using the Secure Seas platform, Norman says their unique solution also benefits employers.
âAlthough the Secure Seas platform was designed with the well-being and human rights of seafarers at its heart, it also offers significant benefits to employers. The streamlined and streamlined payroll process means there is no need for excessive levels of onboard cash or foreign currency accounts – reducing the risk of hacking and corruption â.
The sophisticated banking solution offered by Secure Seas is fueled by its partnership with First Finance International Bank Inc. (FFIBI), one of the leading neo-banks aimed at challenging the traditional banking ecosystem.
FFIBI is positioned at the forefront of innovation to provide cutting-edge digital solutions and new ways of doing business. They use the latest technology in all of their processes and systems to deliver high quality, security and privacy services, including artificial intelligence, data analytics, KYC and facial recognition.
James McCully, CEO and Director of Secure Seas, said the choice to partner with FFIBI was in large part due to their position as a disruptive fintech with a proven track record in providing reliable banking services that can be tailored to a market. niche international user base.
âWith the launch of the Secure Seas platform, we looked for a banking partner that would not just provide an out-of-the-box solution, but could provide a bespoke integrated service that would create the best financial results for mariners. and their employers’.
“With FFIBI, we are able to provide sailors with a bank account to receive their pay on time, withdraw and transfer money to family and friends ashore, manage their finances through a smartphone app and carry out ‘tap and go’ purchases with their UnionPay card ‘.
âAt the same time, we are also offering shipowners and ship managers to simplify the payroll process while reducing risk and improving safety.
âAs the maritime industry wants a better bank for workers and employees, we see the Secure Seas platform as a win-win alternative to the traditional ship pay system, offering seafarers greater financial freedom and shipowners and ship managers an improved system to manage their finances â.
Coming from the Seafarer Foundation, the well-being of sailors is at the heart of the Secure Seas platform. A significant portion of the revenue generated supports the many seafaring centers who struggle to provide much needed ‘home-away-from-home’ care, advice and facilities to seafarers in ports around the world.
About Secure Seas
Secure Seas Pty Ltd is an organization of like-minded professionals from the maritime, banking and business communities.
Through their various careers in the maritime industry and their work in the field of seafarer welfare, the founding directors of the organization recognized the complexity, cost and inefficiency of the seafarer’s pay system in place, as well as the benefits that a modern system would bring to seafarers and their employers.
The desire to alleviate the unnecessary burden placed on seafarers and their families by the outdated payroll systems in place prompted these managers to seek practical alternatives.
After much research, the solution was found using an established multi-currency mobile payment system to power the Secure Seas payroll solution.
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