Omni is a mobile, blockchain-based financial services platform which allows both banked and underbanked-users globally to store, convert, withdraw and transfer money in seconds by automating all processes involved and establishing a global community of individual tellers.
Omni utilizes Ripple's cutting-edge, United States FinCen compliant distributed ledger infrastructure to enable near-instantaneous monetary transfers and conversions.
In addition to accepting online deposits and withdraws, Omni utilizes a 'uber-ized' network of vendors to facilitate cash deposits and withdraws on behalf of the Omni users and in doing so, Omni opens the financial service industry to the massive underbanked populations of the world.
During all P2P transactions, Omni acts as the intermediary. If consumer (party A) wishes to send money to consumer (party B), the transfer amount is deducted from (Party A)'s Omni-Bank, sent to the Omni-Central Bank/Wallet, and then sent to (Party B)’s Omni-Bank.