CITADEL ADVANTAGE are presenting a 2-day intensive training course on Remittance Payments and the Business Opportunities that they create in Johannesburg, South Africa on the 25 & 26 January 2010.
International migration, the movement of people across international boundaries, has enormous implications for growth and welfare in both origin and destination countries. According to the World Bank nearly 200 million people live outside their country of birth. Although Remittances to developing countries are forecast to fall from an estimated $305 billion in 2008 to $290 billion in 2009, they will still outstrip private capital flows and official development aid.
For banks and payment service providers, migrant remittances are the single biggest untapped source of potential revenues. But to benefit from this vast sea of payments, banks and financial institutions need to gain a clear understanding of:
• What remittances are and how they work,
• The nature of the market,
• The market’s geographical spread,
• The customers for remittance services,
• The difficulties that both migrants and their beneficiaries face in the sending and the receiving of these funds, and
• How new initiatives and technology are changing the remittance landscape.
For numerous countries Remittance flows also represent the largest source of foreign exchange. In some developing countries they can account for as much as a 33% of GDP. International research reveals that the flow of remittances appears to be significantly more stable than that of other forms of external finance. This "resiliency" is because many migrants are unlikely to leave their adopted countries and will continue to send money home.
For senders and recipients the process is often times traumatic, and the difficulties associated with them have been increasingly recognized in recent years.
For banks and financial institutions remittances represent a huge opportunity – an opportunity to expand market share in a powerful, worldwide emerging market segment.
The rapid diffusion of technology into the payments world through devices such as the mobile phone heralds the promise of bringing modern real-time banking to even the remotest of villages.
This intensive interactive 2-day course will introduce partctipants to the biggest payment phenomenon of the 21st century. It will open your eyes to rapidly expanding market critically waiting for solutions to its needs.
This course is designed to assist banks, financial institutions and payment service providers who want to improve their understanding of this important market as well as develop the many business opportunities that present themselves.
Join us as we explore the world of Remittances and its many Business Opportunities.
For a fully detailed Brochure for this event please send a blank e-mail to courses@citadeladvantage.com (Please enter Remit -Jo'burg in the subject line)
