In the competitive cross-border remittances (aka money transfers) business, artificial intelligence is increasingly becoming a key driver. Yet, there couldn’t be a starker contrast between the manner in which the market leader and the prime challenger have set about using A.I.

On the one hand, the leader has developed an analytics platform that analyzes data in real time on its rivals’ exchange rates, fees, and transfer times from around 1,300 countries, spanning 650-plus currency pairs. The platform has helped identify where the company can alter its fees and rates to be more competitive; slashed the time to access data by 90%; and reduced its expenses by 70%. The leader is using A.I. to become more efficient, tweak its offerings, and alter its pricing, so it can maximize profits.