Abound is a US fintech company with the goal of making cross-border finance easily manageable for Non-Resident Indians (NRIs). Backed by the Times of India Group, it provides instant, secure money transfers, as well as new rewards and bill pay services, in accordance with the unique needs of the Indian diaspora population.
Incepted to fill the void between traditional remittance services and the evolving needs of NRIs, Abound was conceived with the vision to enhance the efficiency and transparency of cross-border transactions. Supported by the Times of India Group, which boasts a legacy of trust, Abound leverages technology to fulfill the financial needs of NRIs in the U.S. The platform was built to address long-standing issues in remittance services, such as high charges, delay, and risk, and integrating rewards to deliver higher user value. It is to be noted that this is not a free transfer company.
Development Path
Abound began with a basis of fixing the inefficiencies of traditional money transfer mechanisms. Many NRIs had been plagued by issues like outrageous fees (usually $20-$45 per transaction), unpredictable delivery periods (3-5 business days), and undisclosed exchange rate markups. Abound created a lean platform that connected to over 130 banks in India, including HDFC, ICICI, and Axis Bank, for quicker and clearer transactions. The company further expanded its range of services to include bill payments and rewards programs to create a one-stop financial ecosystem for NRIs. One of the key milestones was their partnership with thousands of Indian grocery stores and global merchants, enabling users to get cashback on everyday spends.
Key Achievements & Contributions
Abound has transformed the remittance process for NRIs with competitive exchange rates without markups, real-time tracking, and much quicker transfers than banking channels. Its bill pay feature allows NRIs to pay Indian utility bills—electricity, water, and gas—directly without any additional fees, saving time and anxiety. By rewarding on both purchases and everyday spending, Abound has created a new model in financial services and is a fintech leader by virtue of it. The value of the platform lies in providing NRIs with the ability to manage their money with ease pan geographies, empowering families and investments in India with added control and transparency.
Abound is today a one-stop finance platform for US-based NRIs, with products focused on remittances, bill payments, and rewards. Abound keeps improving, advancing its technology to offer secure and compliant transactions. The intuitive interface, with live reminders and tracking, is envisaged for the digitally native Indian diaspora lifestyle. Abound is also expanding its network of merchant partners to further build on its rewards program, as it ramps up its vision to deliver a borderless financial experience.
Abound's tactic is to obtain the NRI lifestyle—border-transcending, tech-enabled, and value-centered. A user pointed out the platform's impact, explaining, "Abound doesn't just send money; it sends confidence. I know precisely what my family gets and when." The firm values transparency, speed, and empowerment of consumers, validating its objective of making global financial management accessible without compromising security or value.
Backed by the Times of India Group, Abound has earned credibility with its association with a popular media name. While awards or media accolades are not made public, its growing user base and tie-ups with major Indian banks and global merchants attests to its credibility and influence in the fintech domain. Being compliant with regulatory needs goes a long way in making it a secure option for NRIs.
About Abound
Abound has been a game-changer for NRIs in the U.S. as it offers a hassle-free, seamless, and rewarding way of managing cross-border finances. Having set aside the problems of traditional remittances and included components like bill payments and cashback, it has created a special ecosystem to cater to the Indian diaspora community. With the site becoming increasingly better, it is still a necessity for NRIs who wish to provide for their families and manage their international financial obligations with ease.
