Sentbe, a global foreign exchange total solution company based in Korea, was selected as the number one brand in the overseas remittance service category at the ‘2023 Brand Customer Loyalty Awards’ announced by Brand Keys, a top 10 US research and consulting agency, and the Korea Consumer Forum.
The Brand Customer Loyalty Grand Prize surveys customer loyalty to the brand through the BCLI (Brand Customer Loyalty Index) research model jointly developed by Brand Keys and the Korea Consumer Forum to suit the Korean situation, and selects the top brand in each category. The 2023 survey was conducted from March 13 to 26, and the ranking was compiled based on the results of about 920,000 surveys involving about 210,000 consumers.
Sentbe received the highest score compared to its competitors in BCLI’s survey items such as “Brand Trust”, “Brand Attachment”, “Repurchase Intention”, and “Recommendation Intention”, scoring a total of 22.37 points. Among the three brands in the same category nominated together, Sentbe came out on top, with company A receiving 20.81 points, company B 20.63 points, and company C 18.57 points.
Sentbe offers innovative foreign exchange services with low fees, fast remittance speed, and simple procedures for both individuals and companies. The company provides “SentBe”, a small overseas remittance service for individuals, and “SentBiz”, an overseas remittance and payment service for businesses, both domestically and internationally.
Sentbiz effectively supports foreign exchange transactions for individual sellers who need overseas payments and remittances by supporting reasonable fees that are up to 70% lower than banks, fast remittances within a maximum of one day, and simple and safe transaction methods. Recently, the company has been settling USD payments abroad from Korea within 2-3 hours at the maximum by simply sending the remittance and receipt information by email.
As a result, the number of customers using Sentbiz has increased eight times in the first quarter of this year compared to the same period last year, and the size of remittances using Sentbiz has also increased by 51.2%. Sentbe’s competitive advantage lies in efforts to improve safety and ease of use, such as 24-hour remittance anytime, anywhere, low commissions, and the only in-house Legal & Compliance (L&C) organization to prevent financial accidents and foreign exchange risks, and a dedicated CS team.
CEO Sungwook Choi stated that “Sentbe’s excellent score in the customer loyalty survey targeting customers with actual Sentbe experience means that Sentbe is providing more convenient, safe, and efficient services to individual and corporate customers.” He also added that “Customer loyalty is a fundamental foundation that companies must refer to when formulating future growth strategies. We are planning to strengthen Sentbe’s own growth engine so that we can become a cross-border remittance and payment solution company that leads the Asian market.”
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