July 6

Viewpoint: E-Remittance Firms Have Pushed Inclusion, and Will Lead the Recovery

By Rupert Shaw

What’s making fintechs so popular for remittances? Aside from representing cost savings, being built from the ground up with user experience at the forefront has enabled these entities to be more flexible and inclusive than incumbents.

For instance, it only takes about two dozen clicks to create and activate a new mobile remittance account. This agility and accessibility helps neobanks reach underserved customer segments — delivering services that diaspora workers, for example, value greatly.

Photo courtesy of Fiona Graham/WorldRemit .

Source: Payments Source (link opens in a new window)

global development, remittances