The company said system upgrades cut average processing time to within six hours from about 12 hours. A key change was full automation so transfers can be processed automatically at night, on weekends and on holidays in Korea, rather than being constrained by bank business hours.
The company also said it improved real-time tracking of each step, allowing users to check progress from submission through completion and more easily identify delays.
Industry observers view the move as part of intensifying competition in cross-border remittances, as global fintech firms expand real-time or near-real-time services and emphasize faster processing and higher levels of automation.
Adenasoft CEO Jeong Seung-woo said the company focused on speed and ease of use, adding that it is developing a second-phase system aimed at paying out within 10 minutes of an application by June.
The company said some transactions may still take about one additional business day if extra checks are required under anti-money laundering rules. Those cases include transfers above certain amounts or meeting specific conditions, reflecting compliance procedures required for international remittances.
UFintechHub operates segmented services including Utransfer for individuals, Utransfer Biz for companies and Utransfer US for U.S.-to-Korea remittances. The company said usage has been rising as demand grows for simpler transfers among overseas Koreans and international students, as well as foreign residents in Korea.
The company said it plans further upgrades across the system, including stronger stability and improved detection of suspicious transactions.
* This article has been translated by AI.
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