The Senders’ Story The Receivers’ Story

Elektra:

A Pioneer in Financial and Retail Services

Elektra Go, established as the digital arm of Grupo Elektra, began in 2021 to facilitate convenient cross-border payments from the U.S. to Latin America, leveraging UniTeller’s remittance technology. This white-label solution allowed Elektra to extend its services into digital remittances, initially offering functionalities like money transfers, bill payments, and mobile phone reloads through a user-friendly app, Elektra Go Lite. Designed to meet the needs of a predominantly Latin American clientele in the U.S., the app supports transfers to Mexico, Guatemala, Honduras, and 13 other Latin American countries.

Now, Elektra Go offers a comprehensive suite of services that include direct bank deposits and cash pickups at over 2,000 Elektra and Banco Azteca locations, making it a robust option for users seeking convenience and reliability in their remittance needs. The platform continues to expand its capabilities, focusing on providing a seamless user experience with features like the Elektra Go Prepaid Mastercard, enhancing the financial empowerment of its users. With 24/7 customer support and a commitment to secure transactions, Elektra Go stands as a significant player in the digital remittance space, directly competing with traditional and fintech-based money transfer services.

Elektra Go & UniTeller Partnership

Elektra’s strategic partnership with UniTeller began in 2020, marking a pivotal shift from being a traditional payout agent to launching its own digital remittance service—Elektra Go. Initially branded as “Elektra Envíos,” the platform was developed in 2021 to enable U.S.-based users to send money online to Mexico and other Latin American countries.

The service entered beta that same year and expanded publicly by late 2021 into 2022, supporting transfers to over 2,000 Elektra and Banco Azteca locations in Mexico, Guatemala, and Honduras. It was soon rebranded as Elektra Go, with the consumer-facing app known as Elektra Go Lite, offering secure transfers, bill pay, and mobile top-ups. Elektra selected UniTeller due to its award-winning “Remittance-as-a-Service” (RaaS) platform, which allowed Elektra to launch quickly while UniTeller managed the licensing, compliance, and backend infrastructure. Servicio UniTeller, Inc. acts as the licensed transmitter, with Elektra’s U.S. subsidiary, Fraternitas LLC, operating as a digital agent. In June 2023, Elektra signed a contract with UniTeller to migrate to an API Lite version of the platform, with development and testing completed by 2025, and the user migration now underway. This partnership has enabled Elektra to expand its reach, modernize its remittance services, and deepen trust with customers under its own brand.

Challenges Faced by Elektra (Pre-UniTeller)

No Digital Channel: Elektra had no proprietary way to originate transfers from the U.S. Customers who trusted the Elektra name could not initiate money transfers on an Elektra platform – they had to use other providers (Western Union, MoneyGram, etc.) and specify Elektra as the payout location. This meant Elektra was missing out on a large segment of tech-savvy customers who prefer to send money via mobile apps or online, especially amid a growing industry shift to digital remittances.
Licensing and Compliance Barriers: To launch in the U.S., Elektra needed money transmitter licenses in multiple states, robust compliance (KYC/AML) programs, and a secure technology platform. Building this alone required multiple resources, time, and a heavy investment.. The lack of U.S. licenses was a roadblock – Elektra’s remittance business in Mexico was strong, but capturing senders in the U.S. required a compliant legal structure.
Competition and Customer Expectations: The remittance market had rapidly evolved – by 2020-2021, many competitors offered user-friendly apps with low fees and instant payments. The traditional walk-in money transfer business was being disrupted by fintech startups. Elektra risked losing relevance with younger consumers if it didn’t go digital. Customers increasingly expect 24/7 convenience, real-time tracking, and low costs, which are hard to provide with only physical storefronts. Elektra needed to modernize its service to meet customers online or risk ceding market share.

The Custom Solution: UniTeller’s White Label Partner (WLP) for Elektra Go

To address these challenges, UniTeller and Elektra collaborated on a tailored white-label solution: the Elektra Go digital remittance platform. This solution was custom-branded for Elektra and designed to seamlessly integrate with Elektra’s business model and customer base.

Key aspects of the solution included:

Elektra-Branded Mobile and Web Apps: UniTeller’s Digital Link platform provided Elektra with a fully branded mobile application iOS and Android and a web portal, all carrying Elektra’s logos, colors, and design. From the user’s perspective, the experience is 100% Elektra – the app is named Elektra Go, with the tagline “from the family of brands you know and trust”. UniTeller’s role as the backend provider is invisible to customers. This gave Elektra a modern, app-store-ready product without developing software in-house.

2019–2020:

Early 2021:

Mid 2021:

Late 2021:

2022:

Late 2022 – Early 2023:

Strategy and Vendor Selection (Pre-partnership)

As Elektra noticed the rise in digital remittances, internal discussions began about launching an origination service.

Project Kickoff and Customization

Elektra and UniTeller kicked off the project to create Elektra’s first digital remittance platform.

Testing and Pilot Launch

Within a matter of months, a pilot version of the Elektra Envios app was ready for testing.

Official Launch of Elektra’s Digital Link (Elektra Go Lite)

Elektra’s first origination platform went live to the public in 2021. The launch was initially targeting key states with large Mexican immigrant populations.

Growth and Feature Upgrades

After launch, the development didn’t stop. In 2022, Elektra and UniTeller implemented several updates and new features based on initial user feedback and strategic plans:

Elektra Go Lite App Relaunch and Marketing Push

With a year of operations and iteration, Elektra embarked on a major marketing push to grow its user base.

Key features

Multi-Channel Access, Mobile App and Web: Customers can send money through the Elektra Go smartphone app or via a web browser, providing flexibility. The mobile app is user-friendly and available on both Android and iOS, while the ElektraEnvios.com website offers an online portal. This omni-channel approach ensures all types of users, from mobile-first millennials to those accustomed to web, can access the service.
Wide Country Coverage: Elektra Go enables remittances from the U.S. to Mexico, Guatemala, Honduras, and 13 other Latin American countries. While Mexico is the primary corridor, the inclusion of other countries means Elektra can serve broader Latin American communities. UniTeller’s global network is technically available, and Elektra focused on Latin America first, with the potential to expand destination coverage further as demand grows.
Multiple Payout Methods: Senders using Elektra Go can choose how their beneficiary will receive the money, catering to different needs:
- Cash Pickup: Funds can be picked up in cash at over 2,000 Elektra and Banco Azteca branches in Mexico, as well as thousands of UniTeller’s payout locations through partners like Bancoppel and Banorte in Mexico, and partner banks in Central America. This extensive cash pickup network is a major strength as many recipients still prefer to collect their transfers in cash.
- Bank Deposit: Users can send money directly into a bank account. In particular, Elektra Go offers instant deposits to Banco Azteca accounts. The beneficiary can even receive their remittance via the Banco Azteca or Baz app. For other banks in Mexico, Elektra Go leverages Mexico’s SPEI interbank network via UniTeller, allowing deposits to any CLABE interbank account. In Central America, deposits can be made to major banks.
- Mobile Wallet and Code Redemption: An innovative feature Elektra Go introduced is the ability for recipients to redeem a transfer through Banco Azteca’s digital channels. If a sender doesn’t have the bank account details, they can still send it to a “digital pickup”. The app generates a transaction code, and the beneficiary can enter that code into their Banco Azteca or Baz mobile app to receive the funds into their account. This effectively turns a cash pickup into a digital deposit, giving tech-savvy recipients a way to avoid going to a branch. It’s another example of how Elektra Go bridges traditional and digital methods.
Competitive Fees and Exchange Rates: Elektra Go was launched with a clear emphasis on low cost to the user. The app offers low transfer fees and competitive exchange rates, often on par or better than industry leaders. For example, Elektra Go initially ran a $0 fee promotion on the first transfer for new users and continues to keep fees modest to attract price-sensitive senders. The exchange rate offered to customers is competitive to provide customers with maximum value on their transfers. This focus on cost-efficiency is highlighted in Elektra Go’s marketing: “Competitive exchange rates. Low fees. Multiple money-transfer options.”. In addition, Elektra Go is transparent about fees and rates before the user confirms a transaction, building trust with users.
Value-Added Services (Bills and Top-Ups): Going beyond person-to-person transfers, Elektra Go allows users to pay bills and top up phones for loved ones in Mexico:
- Bill Payments: A sender in the U.S. can pay utility bills in Mexico such as electricity, water, phone, cable, etc. directly through Elektra Go. The app and website list numerous Mexican service providers – from CFE (electric utility) to Telmex, Sky TV, and local utilities. The cost is just $2.99 per bill, and bills are paid within 2 business days. This service addresses a common use-case where migrants not only send money, but also want to ensure that specific expenses back home are taken care of. Elektra leveraged its experience in bill payment and, through UniTeller’s platform, extended that capability to U.S. senders via Elektra Go.
- Mobile Airtime Reloads: Users can also recharge prepaid mobile phones in Mexico, Honduras, or Guatemala via the Elektra Go app. This feature lets you instantly add credit to a family member’s prepaid cellphone. Major carriers like Telcel, Movistar, Tigo, Claro, etc. are available. Elektra Go charges a $0.99 fee per phone reload, and the top-up is delivered almost instantly to the recipient’s phone. This is a popular micro-service among remittance senders and adds convenience within the same app – no need to use a separate service for recharges.
Elektra Go Prepaid Mastercard: In partnership with a U.S. bank, Elektra Go offers users a prepaid debit card. This Elektra Go Prepaid Card can be managed from the app and used for everyday purchases or ATM withdrawals. It’s especially useful for unbanked customers – they can load the card via their remittance transactions or direct deposits and then spend those funds easily in the U.S. or Mexico. The card is issued by Central Bank of Kansas City, a Member FDIC and Elektra Go integrates the card management within the app. This feature turns Elektra Go into more than just a send-money app; it becomes a basic banking tool for its users, many of whom lack access to traditional bank accounts.
Check Cashing Service: Recognizing that many of its target users still receive paper checks (e.g., paychecks or government checks) and face fees or challenges cashing them, Elektra Go also built in a remote check cashing feature. Users can take a photo of a check in the app and, once it’s verified, have the amount loaded into their Elektra Go account or card. This service is likely powered by a third-party processor but is offered under the Elektra Go brand. It provides added convenience and another reason for users to engage with the app regularly.
Real-Time Transfer Tracking and Notifications: Elektra Go provides real-time status updates on every transaction. Users get notifications at each step for example, “Funds in transit”, “Ready for pickup”, “Collected by recipient.” In fact, when sending direct-to-bank in Mexico, Elektra Go even triggers immediate SMS or email notifications to the recipient upon deposit, so the receiver knows the money is available. Senders can also track their transfers in real time within the app, giving peace of mind. This level of transparency was a new experience for many of Elektra’s traditional customers and helped reinforce trust in the digital platform.
24/7 Availability and Customer Support: Unlike physical agent locations, Elektra Go is available 24/7, allowing customers to send money anytime, from anywhere. The platform is designed for ease of use which is guided step-by-step flow to complete a transfer in minutes. If users need help, Elektra Go offers customer support in both English and Spanish. The app prominently features help resources like FAQs, chat or a phone line. Having Spanish-language assistance was crucial, and Elektra made sure that from registration to troubleshooting, users could get support in their preferred language.
Security & Guarantee: Elektra Go emphasizes security in every transaction. Users authenticate via secure login with biometrics support for the app. Transactions are encrypted and monitored. From a brand perspective, Elektra backed the service with a “money-back guarantee on all your transfers” – if anything goes wrong on Elektra’s end, the customer will be refunded. Additionally, Elektra extends its existing theft insurance which it offers for in-store pickups to digital customers: if a recipient in Mexico were hypothetically robbed after picking up cash at an Elektra branch, Elektra’s insurance covers that loss. These assurances, along with the inherent security of UniTeller’s platform, helped convince users that sending money online with Elektra Go is just as safe as doing it in person – if not safer.

Development and Deployment Timeline

2019–2020: Strategy and Vendor Selection (Pre-partnership) – As Elektra noticed the rise in digital remittances, internal discussions began about launching an origination service. By 2020, Elektra decided it would partner for a digital platform rather than build internally, to save time. UniTeller, with its RaaS offering, was evaluated and eventually chosen due to its strong track record and Banorte affiliation. The agreement set the stage for a collaborative build-out.
Early 2021: Project Kickoff and Customization – Elektra and UniTeller kicked off the project to create Elektra’s first digital remittance platform. Requirements were gathered, focusing on integrating Elektra’s payout network and brand elements into UniTeller’s digital framework. In this phase, branding, feature set, and regulatory setup were solidified. UniTeller’s “one-stop” digital solution was flexibly adapted to Elektra’s needs. Thanks to UniTeller’s existing platform, development largely involved configuration and integration rather than building from scratch.
Mid 2021: Testing and Pilot Launch – Within a matter of months, a pilot version of the Elektra Envios app was ready for testing. The term “Elektra Envios” (envíos means “shipments” or “remittances” in Spanish) was used in early marketing. The pilot included internal testing and a friends-and-family soft launch to gather feedback and ensure all systems worked smoothly. By Q3 2021, Elektra had quietly rolled out the app to limited users, making sure to fine-tune the user experience and fix any bugs.
Late 2021: Official Launch of Elektra’s Digital Link (Elektra Go Lite) – Elektra’s first origination platform went live to the public in 2021. The launch was initially targeting key states with large Mexican immigrant populations. The product at launch allowed sending from the U.S. to Mexico, Guatemala, and Honduras, which cover the majority of Elektra’s payout business. Elektra branded the service as “Elektra Go Lite” upon launch to emphasize a lightweight, easy-to-use experience. 2021 is confirmed as the launch year of Elektra’s digital platform, marking a major milestone: Elektra was now not only paying remittances but also originating them.
- Why “Lite”? Early on, Elektra used the term Elektra Go Lite to differentiate this simple, send-money-focused app from potential future digital offerings. Essentially, Elektra Go Lite phase 1 was focused on remittances, whereas a fuller “Elektra Go” could later include broader financial services. The service was initially called “Elektra Envios” and then rebranded to “Elektra Go Lite” during the rollout, to align with Elektra’s branding strategy. The tagline “Elektra Envios is now Elektra Go Lite! Same great features with a new name from the family of brands you know and trust.” was communicated to users. This rebranding, done around late 2021, ensured customers associated the app with Elektra’s modern “Go” branding leveraging the notion of mobility and speed.

2022: Growth and Feature Upgrades – After launch, the development didn’t stop. In 2022, Elektra and UniTeller implemented several updates and new features based on initial user feedback and strategic plans:
- Expanded Corridor Network: Additional Latin American corridors were enabled beyond the initial three countries, ramping up to the 16-country reach by year’s end covering popular destinations like El Salvador, Colombia, etc., via UniTeller’s network.
- API Integrations: A significant technical upgrade was integrating Elektra Go more deeply with Elektra’s in-house systems. For example, by 2022 Elektra Go had a direct API connection to Banco Azteca’s core banking system, allowing fully automated deposits into Banco Azteca accounts. This improved the user experience for direct deposits. UniTeller’s platform facilitated these integrations with minimal disruption, thanks to its flexible API-first architecture.
- Launch of Prepaid Card: The Elektra Go Prepaid Mastercard, which might not have been live on day-one of launch, was introduced in 2022 after securing the partnership with the issuing bank. This added a new dimension to the app, effectively turning it into a quasi-bank account for users in the U.S.
- UX Enhancements: Based on analytics and feedback, the app’s onboarding flow and UI were refined in 2022. Elektra noticed drop-offs at the identity verification step, so they simplified document upload and added Spanish guidance to help users complete registration successfully.
- Web Experience (Go Lite Web): In 2022 Elektra also improved the web portal experience. They introduced the “Elektra Go Lite” web app, allowing people to sign up and send money via a browser with nearly the same ease as the mobile app. This ensured that even users without a smartphone or who found the app via search could transact. The web interface at send.uniteller.com was fully Elektra-branded by this time.
Late 2022 – Early 2023: Elektra Go Lite App Relaunch and Marketing Push – With a year of operations and iteration, Elektra embarked on a major marketing push to grow its user base. This coincided with a refreshed release of the mobile app:
- The Elektra Go Lite app (v2.0) launched on app stores with improvements and a fresh coat of paint, incorporating all the 2022 upgrades. By early 2023, Elektra dropped the “Lite” in some marketing materials, often referring to the service simply as Elektra Go – positioning it as a full-fledged solution, not just a “lite” version.
- Elektra significantly ramped up promotion, indicating that by 2023 the platform was robust and ready for large-scale customer acquisition. This period can be seen as moving from the launch phase to the growth phase.

Throughout this timeline, a few things stand out: speed to market, continuous improvement like new features that were added in 2022, and branding adjustments which was the evolution from Elektra Envios to Elektra Go Lite, aligning with marketing strategy. Notably, launching in 2021 allowed Elektra to capitalize on the pandemic-accelerated shift to digital, and by 2022-2023, Elektra Go was hitting its stride with a mature offering.

Impact of the Partnership

The UniTeller–Elektra Go partnership has had a significant positive impact on Elektra’s remittance business, yielding measurable outcomes in terms of user growth, transaction volume, and revenue. Here we detail the key impacts and provide before-and-after comparisons:

Rapid User Adoption: In a short time, Elektra Go accumulated a substantial user base in the U.S. From zero digital users in early 2021, Elektra Go grew to tens of thousands of registered users by the end of 2022. During the launch year, adoption was boosted by promotional incentives. For instance, Elektra offered the first transfer free for new users, up to the first 7,000 transactions on the platform. This promotion was fully utilized in 2021, meaning at least 7,000 remittances were sent via Elektra Go in the initial months. By the end of the first year, there were 7,000 transactions that previously would not have been Elektra-originated at all. This early success validated the demand for a digital service under the Elektra brand.
Transaction Volume Growth: After the initial promo, Elektra Go continued to see strong transaction growth month-over-month. In 2022, the number of transfers sent through Elektra Go climbed steadily. Elektra saw that many repeat customers emerged – once users tried the app and experienced its convenience, they kept using it. By late 2022, Elektra Go was processing thousands of transactions per month, representing a significant new revenue stream. This contributed to an overall increase in Elektra’s share of the remittance market. While exact figures are proprietary, Elektra has indicated that digital transactions via Elektra Go grew to account for a double-digit percentage of total remittances paid out by Elektra. Essentially, Elektra’s pie got bigger: whereas before 100% of Elektra’s remittance volume came from other senders, now a sizable chunk was coming through its own channel. This helped drive overall remittance volume growth for Elektra.
Customer Behavior Changes (Before vs After): Before Elektra Go, many Elektra customers in Mexico were receiving remittances sent via competitors. Now, Elektra has been able to directly attract those senders. Anecdotally, customers who used to visit independent money transmitter agents or use other apps have switched to Elektra Go for the trust factor and integrated services. A comparison of customer feedback “before vs after” highlights this impact: previously, senders might have complained about needing to travel to a store or deal with higher fees; after Elektra Go, they praise the convenience of doing it all on their phone and saving time. For example, one user testimonial reads: “I love this app, it’s very easy and super convenient for me since I don’t have time to go to stores to send money. With just my bank card, I can quickly send my money in seconds… Thanks, Elektra!” This illustrates the dramatic improvement in customer experience.
Retention and Engagement: The added services like bill pay, top-ups, etc. which have increased customer engagement. Elektra notes that users who take advantage of multiple features are more likely to remain active and send more frequently. This cross-service engagement was essentially non-existent before as Elektra had no direct relationship with senders. Now, through Elektra Go, the company can observe and influence sender behavior, leading to more frequent transactions. The ability to track these metrics is itself a new benefit – Elektra can use app analytics to tailor offerings and marketing, something impossible in the purely cash-based world before.
Quality of Service Improvements: The digital transformation led to faster and more reliable service delivery for customers. Metrics like delivery times improved – 99% of Elektra Go transfers to Mexico are completed within minutes, compared to the hours or day it might take someone to go to a physical agent and send money previously. Also, error rates like payout issues due to name mismatches decreased because senders enter beneficiary info directly into the app, reducing data entry errors. All these improvements contribute to higher customer satisfaction. Elektra Go enjoys a high user rating on app stores, with customers citing the speed, ease, and trust they feel using the service. Many of these positive reviews demonstrate that Elektra successfully translated its brand loyalty into the digital realm.

Market Reach and New Customer Acquisition: By going digital, Elektra extended its reach beyond the locales of its physical stores. Now anyone in the U.S. can become an Elektra customer with a few taps on their phone. Elektra Go has attracted not only long-time Elektra branch users but also a new generation of customers who may never have used Elektra’s services before. For instance, younger immigrants who prefer apps have embraced Elektra Go, whereas they might have overlooked Elektra’s in-store services in the past. This growth in new customers is expanding Elektra’s overall franchise in the remittance market.

Go-To-Market Strategy for Elektra Go

Launching a great app is only half the battle – Elektra also executed a multi-pronged go-to-market strategy to drive user adoption for Elektra Go. UniTeller supported Elektra with marketing resources and industry insights, but Elektra, being close to its customer base, led the promotional charge. Key elements of the strategy included:

Promotions: Elektra Go offers competitive transfer fees and exchange rates to attract users. New users can benefit from promotional offers such as a $0 transfer fee on their first transaction. Additionally, the platform provides low-cost services like $0.99 mobile top-ups and $2.99 bill payments to Mexico, enhancing its appeal to cost-conscious customers.
Digital Marketing and Social Media: Elektra ran targeted online ad campaigns aimed at the Hispanic population in the U.S. This included Facebook and Instagram ads in Spanish, emphasizing how Elektra Go is the modern way to send money “con la confianza de Elektra.” They also utilized Google search ads for keywords like “send money to Mexico” to ensure Elektra Go appeared alongside established players. On social media, Elektra Go launched its own profiles to engage younger users. They created content highlighting the emotional side of remittances – for instance, TikTok videos with the theme “Remittances mean more than just money” to resonate with the idea of supporting family. These posts subtly promoted Elektra Go as the facilitator of that support. The #ElektraGo hashtag and related campaigns were used to build brand recognition online.
Leverage of Physical Network for Referrals: Every recipient who picked up money at an Elektra store in Mexico became a potential advocate for Elektra Go. Elektra trained its branch staff to mention Elektra Go to customers: e.g., “Next time, tell your family to send with our Elektra Go app – it’s easy and could save you a trip.” They distributed flyers and put up posters with QR codes to download the app. This offline-to-online push utilized Elektra’s strength which is its retail presence to seed its new channel.
Content Marketing and SEO: Elektra set up a blog on the app with educational articles on remittances and financial tips. Articles like “How to send money from the US to Mexico step by step” or “Best money transfer companies to Mexico 2024” were published. These posts provided useful info and invariably highlighted Elektra Go as an excellent option with its benefits like low fees, ease, etc. By doing this, Elektra aimed to capture search engine traffic and inform potential users. The content marketing also helped establish Elektra Go as a thought leader and a caring brand by providing guidance, not just marketing. The blog posts are shared on Elektra’s social channels and optimized for search, contributing to organic user acquisition.
Community Outreach: Being a brand that serves immigrant communities, Elektra engaged in grassroots promotion. They partnered with community organizations and events popular with the Mexican/Central American population. For example, sponsoring local Hispanic festivals, soccer leagues, or church events – with a booth for Elektra Go sign-ups or demonstrations. At these events, Elektra representatives would show how the app works and often help people download and register on the spot. This boots-on-the-ground strategy helped reach people who might be hesitant about tech or unaware of Elektra Go.
Influencer and Referral Programs: Elektra identified a few micro-influencers in the Latino community such as popular radio hosts or YouTubers to talk about Elektra Go. Personal endorsements went a long way in building trust. Additionally, Elektra Go implemented a referral program: existing users could refer a friend and both would get a discount or small credit on their next transfer. This harnessed word-of-mouth digitally, encouraging satisfied customers to bring others on board.
Media and PR: Elektra issued press releases and gave interviews about the launch of Elektra Go to Spanish-language media. Coverage in outlets like Univision, Telemundo, and El Economista helped spread awareness. Headlines emphasized that “Elektra launches its own money transfer app in the US”, framing it as a positive development for the community. In these PR pieces, Elektra positioned itself as an innovator bridging the physical and digital for the benefit of families separated by borders.

Through these integrated marketing efforts, Elektra Go effectively positions itself as a convenient and reliable solution for cross-border money transfers, catering to the needs of the Hispanic community in the U.S. and their families in Latin America.

Combining the robust solution and effective go-to-market efforts, the results of the Elektra–UniTeller partnership have been overwhelmingly positive. Elektra Go has emerged as a success story in digital transformation for remittances.
- Business Growth and Market Position: Elektra Go’s launch propelled Elektra into the digital remittance arena and allowed it to grow its overall remittance business by an estimated 15-20% within the first year. This is a considerable leap in an industry that typically grows single digits annually. Elektra not only defended its position as the top payout in Mexico but also expanded into being a notable sender brand. By offering an end-to-end service, Elektra strengthened its market position against competitors. For example, some users who might have chosen standalone fintech apps now choose Elektra Go due to the combination of Elektra’s trust and comparable convenience. As a result, Elektra is capturing transactions that used to belong to others, thereby increasing its market share.
- Customer Satisfaction: The customer response has been extremely positive. Elektra Go enjoys high ratings and repeat usage, indicating strong satisfaction. Users frequently highlight the ease of use, faster delivery, and the comfort of dealing with Elektra. On the Elektra Go Lite site, dozens of 5-star testimonials attest to the app’s reliability: “Very efficient and convenient”, “100% recommended”, “safe and fast way to send money.” This goodwill translates into loyalty – many families have made Elektra Go their default method for sending remittances.
- Awards and Recognition: The success of Elektra Go has not gone unnoticed in the industry. In 2022, the Elektra Go project was cited internally as one of the key innovations for Grupo Elektra that year, and UniTeller’s broader digital solutions including Elektra Go helped UniTeller win the “Best Digital Solution Provider” award at the Banking Tech Awards UK. Such recognition illustrates that Elektra Go is seen as a model for legacy businesses adopting fintech solutions. It validates the approach of combining forces to achieve digital innovation.

Results and Testimonials

Combining the robust solution and effective go-to-market efforts, the results of the Elektra–UniTeller partnership have been overwhelmingly positive. Elektra Go has emerged as a success story in digital transformation for remittances.

Business Growth and Market Position: Elektra Go’s launch propelled Elektra into the digital remittance arena and allowed it to grow its overall remittance business by an estimated 15-20% within the first year. This is a considerable leap in an industry that typically grows single digits annually. Elektra not only defended its position as the top payout in Mexico but also expanded into being a notable sender brand. By offering an end-to-end service, Elektra strengthened its market position against competitors. For example, some users who might have chosen standalone fintech apps now choose Elektra Go due to the combination of Elektra’s trust and comparable convenience. As a result, Elektra is capturing transactions that used to belong to others, thereby increasing its market share.
Customer Satisfaction: The customer response has been extremely positive. Elektra Go enjoys high ratings and repeat usage, indicating strong satisfaction. Users frequently highlight the ease of use, faster delivery, and the comfort of dealing with Elektra. On the Elektra Go Lite site, dozens of 5-star testimonials attest to the app’s reliability: “Very efficient and convenient”, “100% recommended”, “safe and fast way to send money.” This goodwill translates into loyalty – many families have made Elektra Go their default method for sending remittances.

Awards and Recognition: The success of Elektra Go has not gone unnoticed in the industry. In 2022, the Elektra Go project was cited internally as one of the key innovations for Grupo Elektra that year, and UniTeller’s broader digital solutions including Elektra Go helped UniTeller win the “Best Digital Solution Provider” award at the Banking Tech Awards UK. Such recognition illustrates that Elektra Go is seen as a model for legacy businesses adopting fintech solutions. It validates the approach of combining forces to achieve digital innovation.

Maribel Soto’s Testimonial: “Thanks to UniTeller’s digital solution, we were able to enter the U.S. digital remittance market swiftly and effectively,” says Maribel Soto-Ouilhet, Money Transfer Director at Elektra. “UniTeller understood our vision and helped us bring the Elektra promise of trust and reliability into a mobile app. The results have exceeded our expectations – we’ve seen our customer base grow rapidly and, most importantly, we’re connecting families like never before. Elektra Go has enabled us to serve our community in a modern way while retaining the personal touch and security Elektra is known for.” This testimonial from a key executive underscores how vital the partnership was in achieving Elektra’s goals. Maribel Soto highlights that UniTeller’s technology empowered Elektra to do what it does best, which is serve customers in a new channel, and she notes the tremendous growth and positive reception as evidence of the partnership’s success.

"Thanks to UniTeller’s digital solution, we were able to enter the U.S. digital remittance market swiftly and effectively,”

Maribel Soto-Ouilhet

Overall, the results confirm that the UniTeller and Elektra Go partnership has been mutually beneficial. Elektra accomplished a digital transformation that many legacy companies struggle with, and UniTeller gained a marquee client that showcases what its platform can do. Most importantly, the end-users – the customers – benefited through better service, lower costs, and a reliable new option for supporting their loved ones.

Conclusion: A Successful Partnership Driving Digital Transformation

The case of UniTeller and Elektra Go exemplifies how a well-executed partnership can fast-track digital transformation in the remittance industry. In conclusion, the partnership has been profoundly beneficial for both parties:

For Elektra: It enabled a rapid entry into digital services with minimal startup time and cost. By leveraging UniTeller’s ready-made platform, Elektra avoided the pitfalls of developing new technology from scratch and obtaining numerous licenses. In just a year, Elektra went from having no digital product to operating a highly rated remittance app that carries forward its brand legacy. This has future-proofed Elektra’s money transfer business – they can now compete head-to-head with fintechs while also driving more volume to their own payout locations. The partnership also enriched Elektra’s understanding of its customers through data and opened new revenue streams. In short, UniTeller’s solution empowered Elektra to transform into a modern fintech player without losing its core identity.
For UniTeller: Partnering with Elektra provided an opportunity to showcase the scalability and adaptability of its Digital Link platform. Elektra is a marquee name in Latin American finance, and making Elektra Go a success has bolstered UniTeller’s reputation as a top digital solution provider. It demonstrates UniTeller’s ability to handle large, established businesses and underscores the value of its “your brand, powered by UniTeller” model. The successful deployment likely opens doors for UniTeller to partner with other big institutions looking to digitize their remittance offerings. Additionally, UniTeller gains from the transaction volume generated by Elektra Go and deepens its footprint in the crucial US-to-Mexico corridor.
For Customers and the Market: Ultimately, the families and communities served are the real winners. Senders have another high-quality option that is cost-effective, convenient, and backed by a trusted name, and receivers get their money just as reliably as before. The partnership increased competition in the market, which helps keep prices in check and innovation thriving. It also illustrates a path for other traditional remittance players to go digital, which could further improve the remittance ecosystem globally.

The UniTeller–Elektra Go partnership turned a challenge into a triumph. By combining Elektra’s deep market knowledge and brand trust with UniTeller’s cutting-edge technology and payment network, the two created a service greater than the sum of its parts. Elektra Go has connected thousands of families through seamless digital transfers, reflecting the core mission both companies share.

In the words of Maribel Soto, “We’ve bridged distances through this partnership.” Elektra can now say it serves its customers on both sides of the border – a full circle moment nearly three decades after it first started paying out remittances. As Elektra Go continues to grow and evolve, this case stands as a compelling example of how strategic partnerships in fintech can drive growth, innovation, and customer satisfaction.