Transfer Summit Met With Success
There is likely to be more consolidation in the remittances market as it becomes increasingly difficult for small and medium sized operators to maintain profitability given the current trends in the business. In a wide-ranging agenda there was a consistent message. Among the key themes that were explored were the adoption of the 5×5 pricing target by the G20, the forthcoming regulatory review of the Payment Services Directive in Europe, the trend for consolidation by remittance companies, the vital role of social media in maintaining and building customer bases, the application of newer technologies to the industry and the increasingly collaborative business models that are being adopted.