Inficare
Inficare is a Malaysia-headquartered fintech infrastructure company providing enterprise remittance, AI-powered compliance (WatchX), and digital wallet (PayX) platforms to 150+ financial institutions across 15+ countries, processing $10B+ annually through 200+ API integrations.
- Company typePrivate
- Founded2005
- HeadquartersKuala Lumpur, Malaysia
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Inficare does
Inficare is a privately held fintech infrastructure company founded in 2005 and headquartered in Kuala Lumpur, Malaysia, with regional offices in Nepal and California, USA. The company provides enterprise remittance, compliance, and payment infrastructure for licensed money service businesses, banks, exchange houses, fintech startups, payment aggregators, and enterprise operations across 15+ countries. Its platform processes $10B+ in annual transaction volume for 150+ financial institution clients globally.
The company's technology is built on an API-first, cloud-native architecture organized around three core products: RemitX (enterprise remittance platform managing onboarding, compliance, transaction processing, agents, branches, and settlement), WatchX (AI-powered eKYC and compliance verification with OCR, face liveness, face match, and AML screening), and PayX (multi-currency digital wallet and payment infrastructure). The platform integrates with 200+ partners across payment networks (Visa Direct, Mastercard Send, Western Union, MoneyGram), banking partners (J.P. Morgan, Citi, HSBC, Deutsche Bank), compliance providers (Dow Jones, LexisNexis, World-Check), FX providers (Bloomberg, Reuters), and core banking systems (Temenos, FIS, Finastra). AI/ML capabilities are embedded throughout for fraud detection, risk scoring, transaction monitoring, and document verification.
Inficare operates an enterprise-focused go-to-market with consultative direct sales, custom pricing proposals, and multi-year contracts. Revenue is generated through three streams: platform licensing/SaaS subscriptions for the remittance platform, transaction processing fees on cross-border transfers, and API usage-based pricing for fintech integrations. The company is privately held with no disclosed funding rounds, revenue figures, or institutional investors. Certifications include PDPA compliance, ISO 27001 alignment, and MAS regulatory alignment, supporting credibility with regulated financial institutions.
Inficare firmographics
Firmographics- Name
- Inficare
- Legal name
- INFICARE (M) SDN BHD
- Website
- https://inficare.com.my
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Inficare is a Malaysia-headquartered fintech infrastructure company providing enterprise remittance, AI-powered compliance (WatchX), and digital wallet (PayX) platforms to 150+ financial institutions across 15+ countries, processing $10B+ annually through 200+ API integrations.
- Ownership category
- akta.pro rank
Inficare industry classification
Industry- Product category
- Remittance Software (Cross-Border Payment Infrastructure)
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Cross-Border & FX Payments Platforms (BPAMAFAK)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)
Keywords
Where Inficare is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices3 records
Markets served
Inficare business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Platform Licensing / SaaS: Enterprise software licensing model for remittance platform infrastructure. Licensed money service businesses, banks, and financial institutions deploy RemitX platform with modules for compliance, wallet, and operations.
- Transaction Processing Fees: Revenue from processing cross-border money transfers with multi-currency corridor support. The platform processes $10B+ annual transaction volume indicating transaction-based revenue model.
- API Usage / Volume-based: API-first platform with SDKs and sandbox environments suggests usage-based or tiered API access model for fintech companies integrating remittance and payment capabilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise platform pricing based on business type and scale |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Inficare product offering
Product offeringCore offering
Inficare sells enterprise software platforms for cross-border remittance, compliance and digital payments to financial institutions. Its flagship RemitX orchestrates money transfer operations with compliance, process automation, risk and regulatory reporting; WatchX provides AI-powered eKYC, AML screening and fraud detection; and PayX delivers digital wallet and payment infrastructure for P2P, merchant, bill, QR and agent transactions.
Product overview
Inficare offers a platform-plus-modules architecture centered on three core products: RemitX (enterprise remittance platform), WatchX (AI-powered eKYC and compliance verification), and PayX (digital wallet and payment infrastructure). RemitX serves as the flagship platform providing core money transfer infrastructure with multi-currency support, global payout networks, and agent/branch management. WatchX integrates as an AI-powered add-on for identity verification, document OCR, face liveness detection, and AML screening. PayX provides the digital wallet layer with P2P transfers, merchant payments, and real-time processing. The platform is complemented by six integrated modules within RemitX: Compliance & AML Suite, Digital Wallet Platform, Process Automation, Risk & Security, and Regulatory Reporting—all designed to work seamlessly together to power deployments from launch to scale.
Differentiator
Problem solved
Functional benefit
Brands
- RemitX: Enterprise remittance and compliance software for global operations - manages customer onboarding, compliance, transaction processing, agents, branches and settlement from a single platform.
- WatchX
- PayX
Products and services
- RemitX RemitX is an enterprise remittance orchestration platform for financial institutions that consolidates compliance, digital wallet, process automation, risk and security, and regulatory reporting capabilities into a single system for managing cross-border money transfer operations.
- WatchX WatchX is an AI-powered eKYC and identity verification platform that provides liveness detection, document verification, AML screening and fraud detection for onboarding and ongoing customer due diligence.
- PayX PayX is a digital wallet and payment infrastructure platform that enables P2P transfers, merchant payments, bill payments, QR payments, agent services and real-time transaction processing for financial institutions and wallet operators.
Quantifiable outcome
- 80% faster time-to-market for launching new remittance corridors
- +14 more outcomes
Companies that use Inficare
Customer profileNamed customers6 records
Segments6 records
Ideal customer profiles4 records
Inficare technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration44 records
AI capability7 records
Feature7 records
Inficare partnerships and signals
Strategic signalPartnerships
43 partnerships are on record, tiered core and major.
- Visa DirectcorePre-built integration with Visa Direct payment network enabling real-time global payouts through RemitX platform.
- Mastercard SendcoreIntegration with Mastercard Send for cross-border payment capabilities and card-based fund transfers.
- Western UnioncoreIntegration with Western Union money transfer network enabling global payout corridors through RemitX.
- MoneyGramcoreIntegration with MoneyGram for international money transfer services and global payout network access.
- Ria Money TransfermajorPre-built connection to Ria Money Transfer network for remittance processing and global disbursements.
- WorldRemitmajorIntegration with WorldRemit digital remittance platform for global money transfer capabilities.
- Wise (TransferWise)majorIntegration with Wise for competitive FX rates and international transfer processing capabilities.
- PayPalmajorIntegration with PayPal for digital payment processing and cross-border transaction capabilities.
- J.P. MorgancoreDirect integration with J.P. Morgan banking systems for settlement, treasury, and financial institution connectivity.
- CiticoreIntegration with Citibank for banking connectivity, settlement networks, and financial services integration.
- HSBCcoreDirect banking partner integration with HSBC for global settlement and correspondent banking services.
- Standard CharteredcoreIntegration with Standard Chartered for cross-border payment processing and banking connectivity.
- Deutsche BankcoreBanking partnership with Deutsche Bank for international settlement and correspondent banking networks.
- BNP ParibasmajorIntegration with BNP Paribas for European banking connectivity and cross-border payment settlement.
- UBSmajorBanking partner integration with UBS for wealth management and international banking connectivity.
- BarclaysmajorIntegration with Barclays for UK and international banking settlement and payment processing.
- Dow JonescoreIntegration with Dow Jones for sanctions screening, PEP checks, and adverse media monitoring in compliance workflows.
- LexisNexiscoreCompliance integration with LexisNexis for regulatory screening and risk intelligence data.
- World-CheckcoreIntegration with World-Check (Refinitiv) for AML screening, sanctions list checks, and counterparty due diligence.
- ComplyAdvantagecoreAML and compliance screening integration with ComplyAdvantage for real-time risk assessment.
- RefinitivcoreIntegration with Refinitiv (London Stock Exchange Group) for financial data, compliance screening, and risk management.
- TrulioomajorIntegration with Trulioo for identity verification and global ID validation services in KYC workflows.
- JumiomajorIdentity verification integration with Jumio for AI-powered document verification and biometric authentication.
- OnfidomajorIntegration with Onfido for automated identity verification, document checks, and facial recognition.
- BloombergcoreFX and treasury integration with Bloomberg for real-time exchange rates, currency data, and financial information.
- ReuterscoreIntegration with Reuters for FX rate feeds, currency market data, and financial news.
- XEmajorFX integration with XE for currency conversion rates and international money transfer pricing.
- OANDAmajorIntegration with OANDA for forex trading data, currency conversion, and FX rate services.
- CurrencycloudmajorFX and treasury integration with Currencycloud for multi-currency accounts and currency conversion.
- TemenoscoreCore banking system integration with Temenos for T24 and other Temenos banking platform connectivity.
- FIScoreIntegration with FIS (Fidelity National Information Services) for core banking and payment processing systems.
- FinastracoreCore banking integration with Finastra for Fusion Phoenix and other Finastra banking solutions.
- Oracle FLEXCUBEcoreIntegration with Oracle FLEXCUBE core banking system for transaction processing and account management.
- Infosys FinaclemajorCore banking integration with Infosys Finacle for digital banking and transaction processing capabilities.
- FiservmajorIntegration with Fiserv for payment processing, card services, and financial technology solutions.
- Jack HenrymajorCore banking partner integration with Jack Henry for US community banking technology solutions.
- MambumajorIntegration with Mambu cloud banking platform for SaaS-based core banking functionality.
- FinCENcoreAutomated regulatory reporting integration with FinCEN (Financial Crimes Enforcement Network) for US compliance submissions.
- FCAcoreRegulatory reporting integration with FCA (UK Financial Conduct Authority) for UK compliance requirements.
- AUSTRACcoreAutomated compliance reporting to AUSTRAC (Australian Transaction Reports and Analysis Centre).
- FINTRACcoreIntegration with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) for Canadian regulatory reporting.
- FATFcoreCompliance framework alignment with FATF (Financial Action Task Force) recommendations for AML/CFT requirements.
- MAS (Monetary Authority of Singapore)coreRegulatory alignment and automated reporting to MAS for Singapore financial institution compliance.
Scale indicators10 records
Recent moves5 records
Expansion highlights5 records
Inficare competitors and assessment
Company assessmentBroad incumbents
- FIS: FIS is one of the largest financial technology vendors globally, offering core banking, payment processing, and remittance infrastructure. Comparable to Inficare as a broad incumbent with overlapping remittance and compliance capabilities for banks and financial institutions.
- Finastra: Finastra is a large core banking and financial software vendor serving 8,500+ institutions globally, with cross-border payments capabilities within FusionFabric platform. Comparable to Inficare as a broader banking software incumbent competing for the same bank and MTO accounts.
- Temenos: Temenos provides core banking and payments software to banks in 150+ countries, with cross-border and remittance modules. Comparable to Inficare as a broader core banking platform with overlapping cross-border payment functionality, particularly for bank clients.
Direct peers
- Currencycloud: Currencycloud (acquired by Visa) provides FX and cross-border payment infrastructure via APIs for banks, fintechs, and payment companies. Directly comparable to Inficare on multi-currency treasury and cross-border payment orchestration, with API-first delivery model.
- Thunes: Thunes provides cross-border payments infrastructure with a global network spanning 130+ countries, focused on MTOs, banks, mobile wallets, and fintechs. Directly comparable to Inficare's RemitX in delivering multi-currency corridors, real-time settlement, and compliance workflows for licensed financial institutions.
- TerraPay: TerraPay operates a cross-border payments infrastructure network enabling money transfers to 150+ countries, with similar B2B focus on MTOs, banks, and fintechs. Directly comparable to Inficare in serving licensed money service businesses with multi-currency corridor infrastructure and compliance tooling.
- Ebury: Ebury (part of Santander) provides cross-border payments, FX, and trade finance for SMEs and financial institutions. Comparable to Inficare in serving enterprises and MTOs with multi-currency infrastructure, settlement, and treasury management capabilities.
- Wise Platform: Wise Platform offers white-label cross-border payments infrastructure for banks and enterprises, leveraging Wise's consumer remittance rails. Directly comparable to Inficare's bank-focused white-label offering and API-first model for fintech and enterprise integrations.
Emerging players
- Onfido: Onfido provides AI-powered identity verification including document OCR, face liveness, and biometric authentication for financial institutions. Comparable to Inficare's WatchX product for eKYC and compliance verification, often integrated alongside remittance platforms.
- Jumio: Jumio offers AI-driven identity verification, KYC, and AML screening solutions for banks, fintechs, and remittance operators. Comparable to Inficare's WatchX for identity verification workflows and a common integration partner within the broader remittance ecosystem.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Inficare social profiles
Digital presenceInficare compliance and trust
Trust signalCompliance3 records
Inficare financial estimates
Financial estimateRevenue estimate
Valuation estimate
Inficare leadership team
Management profileNumber of profiles
Inficare subsidiaries and ownership
Company hierarchySubsidiaries2 records
Inficare funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Inficare M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Inficare
What does Inficare do?
Inficare sells enterprise software platforms for cross-border remittance, compliance and digital payments to financial institutions. Its flagship RemitX orchestrates money transfer operations with compliance, process automation, risk and regulatory reporting; WatchX provides AI-powered eKYC, AML screening and fraud detection; and PayX delivers digital wallet and payment infrastructure for P2P, merchant, bill, QR and agent transactions.
Is Inficare a public or private company?
Inficare is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Inficare founded?
Inficare was founded in 2005. It employs 51 to 100 people.
Where is Inficare based?
Inficare is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
How does Inficare make money?
Three revenue lines are on record. Platform Licensing / SaaS are the primary driver. The others are transaction Processing Fees and API Usage / Volume-based.
Who are Inficare's main competitors?
Broad incumbents on record are FIS, Finastra and Temenos. Direct peers are Currencycloud, Thunes, TerraPay, Ebury and Wise Platform. Emerging players are Onfido and Jumio.
Does Inficare have an API?
Yes. RESTful APIs with comprehensive documentation and SDKs for popular programming languages. Features include webhook support for real-time events, sandbox environment for testing, and Postman collections and examples. The platform offers API-first architecture enabling rapid integration with banking systems, payment gateways, KYC providers, compliance tools, and third-party services. Example: POST /api/v1/transactions endpoint for transaction processing. Developer documentation is at inficare.com.my/integrations.
What industry is Inficare in?
Inficare's product category is Remittance Software (Cross-Border Payment Infrastructure). Its primary akta.pro industry code is BPAMAFAK, Cross-Border & FX Payments Platforms, with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 52232 and its SIC code is 7370.