The International Money Transfer & Remittance Industry
Comments by Hugo Cuevas-Mohr, Director of the the International Money Transfer & Payments Conferences and Mohr World Consulting on the State of the Industry. Globally, the Money Transfer Industry is very large and diverse but very scattered across all countries with partnerships interconnecting the networks, some very mature and regulated (and even over-regulated) to some that are emerging and maybe under-regulated, full of innovative solution builders and leading-edge entrepreneurs. The industry serves the 250 million migrants of the world with the remittances they send to their families and the small amounts they each send are life-changing for their loved ones, a boost to their communities and much needed capital transfers for their countries.
Hugo brings his own thoughts and opinions and the voices of the many colleagues that participate in his forums, people involved in providing x-border financial services, such as Money Transfer Operators (MTOs), Banks and Mobile Operators involved in financial services (MMOs), and a large array of institutions, brick-and-mortar or digital first, for-profit and non-profit, that provide services along migration corridors, to people or companies, personal or commercial, formal or informal.
Is technology & fintech changing the remittance industry?
Updated 5 months ago.
How is technology & fintech changing the International Money Transfer & Remittance industry? What are the processes that are changing more rapidly, the systems that make these changes more apparent and are producing the greater change? What innovations are lowering the cost of handling remittances? What innovations are making remittances more convenient for end-users? What innovations are truly disruptive? How creative is this industry?