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Remittances - a new perspective -

Remittances - a new perspective - . June 2011. Agenda. About…. An international remittance is a cross-border, person-to-person payment of relatively low value The World Bank. Typically by migrant workers to their families. Especially from developed to developing countries

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Remittances - a new perspective -

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  1. Remittances- a new perspective - June 2011

  2. Agenda Remittances - a new perspective

  3. About… An international remittance is a cross-border, person-to-person payment of relatively low value The World Bank • 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 Remittances - a new perspective

  4. Facts & Figures 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 Remittances - a new perspective

  5. Facts & Figures Romania • inward remittances flow totaled $4,5 billion in 2010 • outward remittances flow totaled $310 million in 2009 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 Remittances - a new perspective

  6. How it works now … Sender/ remitter Sending Agent MTO Country A Debiting Bank Holds funds Proprietary network Transactions database Correspondents bank system (balance accounts) Message Beneficiary/ Receiver Disbursing Agent MTO Country B Crediting Bank Liquidity provision Remittances - a new perspective

  7. How it could work … Sender/ remitter Debiting Bank Collection channels SWIFT network Message Beneficiary/ Receiver Crediting Bank Distribution channels Remittances - a new perspective

  8. Focus on… Collection /Distribution Channel • agents, mobile, ATM, online … Market environment • regulatory environment • Other players (exclusivities) • Compliance (AML/KYC) • Marketing strategies The challenge is to reach the rural areas Remittances - a new perspective

  9. Agenda Remittances - a new perspective

  10. Allevo’s approach qPayIntegrator qPI-FO qPI-FO Client SWIFTNet Agent/Branch Funds distribution Participant Bank 2 WR pacs: 008 - payment instr. 004 - return 002 - status Statuses Collections Channels Participant Bank 1 Mobile Operator Remittances - a new perspective

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