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This Area Will Not Be Seen
Workers’ RemittancesWorkers’
Remittances
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Workers’Remittancestransactions
revenue
Bank share20 to 30%
15 billion USD
1 to 1.5 billion
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Correspondentbanking
Not tailored to provide consumer
prices and time transparency
Franchisee of money transfer
operator
Costly to scale,
deploy and maintain in many countries
Bilateral
agreements over proprietary networks
Bound to operator’s offering and conditions
Challenges
Workers’Remittances
WORKERS’ REMITTANCES
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Workers’Remittances
Contract template
for service conditions
Rulebookwith market practice
Directorywith participant reference data
XML standardsfor instructions,
status and return
FileAct messaging service
B u s i n e s s T e c h n i c a lf r a m e w o r k
MOBILE-ENABLED !
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Payment instruction
I paid $100. You can pick it up at XYZ bank. Give 123 as reference.
1
2
3
4
ISO 20022 payment instructionvia Workers’ remittance solution, re- using existing clearing mechanism
Pay -out
Account
Mobile phone numbers as accountidentifier or beneficiary identity
verification to authorize cash pay-out
Workers’Remittances
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Standardised definitions
Complemented with Alliance IntegratorCentralised information
database
Technical framework similar to SEPA
Fast time to market and stronger reach
Expanded commercial opportunities
Reduced total cost of ownership
Faster return on investment
47banks
Workers’Remittances
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Workers’Remittances
Contact partner banks
Implement application
Integrate infront-office
Test and roll-out
Getting started
est H elp F acilitate T rainC ertify I ntegrate T
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Workers’Remittances
Easy to scale
Compelling
customer
neutralEasy tointegrate
experience
Your global platform for person-to-person payments
Commercially
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For more informationvisit us on the stand
Workers’Remittances
Workers’Remittances