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Seven Strategies to Attract 40+ Million New Customers: How U.S. banks can serve immigrants today and tomorrow
The surge of unaccompanied minors crossing the U.S. border has put the immigration debate back in the headlines. But CFSI’s Thea Garon argues that the more important issue is whether the millions of immigrants who already live in the U.S. have what they need to succeed. She lays out new research from CFSI on how financial service providers can serve immigrants - both now and if comprehensive immigration reform is passed.
- Categories
- Investing
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India’s mobile operators dial migrants to power money transfers
Money transfer through mobile phones is slowly becoming popular with the country's top two operators — Bharti Airtel and Vodafone — together having notched up more than 2 million subscribers. Business is slowly gaining traction, say industry watchers, with the subscriber base growing at close to 15% growth month-on-month. Idea Cellular has made a start and Reliance Communications has just won a licence to offer money transfer services.
- Categories
- Technology
- Tags
- digital payments, migrants
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Ugandan startup making it simpler for African migrants to send money home
A Ugandan startup is looking to change the way people transfer money from abroad by enabling remittances directly to mobile phone wallets. Redcore Interactive operates Remit, a platform that enables real-time debit and credit card and mobile money transfers from across the world to registered mobile money users in Uganda.
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- Technology
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Migrants from developing countries to send home $414 billion in earnings in 2013
The developing world is expected to receive $414 billion in migrant remittances in 2013, an increase of 6.3 percent over the previous year.
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- migrants
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Immigrants Build Houses in Mexico with Remittances- The Case of Construmex
Many immigrants come to work in the US, and when they do, they usually leave family behind. Often, their primary objective is to make money and provide for their families back home. Some companies - like the Mexico-based multinational cement giant CEMEX - are taking advantage of this situation...
- Categories
- Uncategorized
- Tags
- migrants, remittances
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Call for caution over migrants’ cash
The World Bank will on Tuesday urge policymakers to take a more cautious approach towards the development potential of remittances, the multi-billion dollar financial flows sent home by migrant workers in North America, Europe and Asia. In a report analysing their significance in Latin America and the Caribbean, bank economists argue that remittances are not ?manna from heaven?, that the benefits have been ?overestimated? and that associated social and economic costs in developing cou...
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- migrants
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Migrants’ Money is Imperfect Cure for Poor Nations
It’s the sort of scene that many development economists believe could transform some of the world’s most impoverished regions, by putting cash directly in the pockets of the poor. With tens of millions of migrants around the globe sending remittances home, the flood of money has grown immense -- $167 billion last year, according to the World Bank. This lively mountain town survives on money sent from its sons and daughters living in the U.S. On days payments arrive, lines at the lo...
- Tags
- migrants
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