remittances - a new perspective · remittances - a new perspective typically by migrant workers to...
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Remittances
- a new perspective -June 2011
Agenda
Remittances - a new perspective
About…
Remittances - a new perspective
Typically by migrant workers to their families. Especially from
developed to developing countries
Person-to person, low value – i.e. not commercial or wholesale
payments
Domestic remittances also exist
Recurrent - but typically made by individual transfers (e.g. not by
standing order)
Typically credit transfers
For remittance service providers (RSPs), often indistinguishable
from any other retail cross-border transfers
An international remittance is
a cross-border, person-to-person payment
of relatively low valueThe World Bank
Facts & Figures
Remittances - a new perspective
Worldwide
remittances totaled $440 billion in 2010 involved some 250 million migrants or 3.2% of
world population annual transactions: 1 to 1.5 billion average transaction value: +/-$ 300
Facts & Figures
Remittances - a new perspective
EMIGRATION, 2010■ Stock of emigrants: 2,769.4 thousands■ Stock of emigrants as percentage of population: 13.1%■ Top destination countries: Italy, Spain, Hungary, Israel, the United States,
Germany, Canada, Austria, France, the United Kingdom
IMMIGRATION, 2010■ Stock of immigrants: 132.8 thousands■ Stock of immigrants as percentage of population: 0.6%■ Top source countries: Moldova, Bulgaria, Ukraine, the Russian Federation, the Syrian Arab Republic, Hungary, Greece, Turkey, Italy, Germany
Romania inward remittances flow totaled $4,5 billion in 2010 outward remittances flow totaled $310 million in 2009
How it works now …
Remittances - a new perspective
Sender/
remitter
Beneficiary
/ Receiver
Sending
Agent
Disbursing
Agent
MTO
Country A
MTO
Country B
Debiting
Bank
Crediting
Bank
Message
Holds
funds
Liquidity
provision
Proprietary network
Correspondents
bank system
(balance accounts)
Transactions database
How it could work …
Remittances - a new perspective
Sender/
remitter
Beneficiary/
Receiver
Debiting
Bank
Crediting
Bank
Message
Collection channels
Distribution channels
SWIFT network
Focus on…
Remittances - a new perspective
Collection /Distribution Channel agents, mobile, ATM, online …
Market environment regulatory environmentOther players (exclusivities)Compliance (AML/KYC)
Marketing strategies
The challenge is to reach the rural areas
Agenda
Remittances - a new perspective
Allevo’s approach
Remittances - a new perspective
Participant
Bank 2
Agent/BranchFunds
distribution
Statuses
SWIFTNet
WR pacs:
008 - payment instr.
004 - return
002 - status
Participant
Bank 1
qP
ay
Inte
gra
torq
PI-
FO
Cli
en
t
Mobile
Operator
Collections
Channels
qP
I-F
O