Interview with Leon Isaacs from DMA Global | IPR Global 2023

We interviewed Leon Isaacs, the CEO & Founder of DMA Global, during our Innovation in Payments and Remittances (IPR) Global event, to share his insights into FinTech regional hotspots, the future of RegTech in Africa and the Middle East, what sets IPR apart and more.

Leon holds over 30 years’ hands-on experience and is a business leader in the payments and international development fields, with a particular expertise in migrant remittances.

Watch the full video to find out his views.

Africa Remittances: Traversing the New Frontier | IPR Global 2023

This insightful session will explore the evolving landscape of remittances in Africa, with a key focus on the transformative impact of mobile money services and e-wallets. Our panel of experts will delve into topics like the role of innovative technologies, financial inclusion, regulatory challenges, and the potential to reduce costs and promote economic development through remittances.

Discover how these digital financial tools are reshaping financial ecosystems, empowering underserved communities, and fostering cross-border economic integration across the African continent.

Moderator

Priscilla D´Oliveira Friedman, COO, CrossTech

Panellists:

Temiloluwa Adesina, Senior Product Manager, Flutterwave
Ababacar Seck, Managing Director, Africa, RemitONE & IPR
George Boateng, Chief Operations Manager, Unity Link Financial Services Limited
Reynell Badoe, Head, Everyday Banking, Stanbic Bank Ghana LTD

What is the current landscape of remittances in Africa, and how has it evolved over the past decade?

Across the continent, every country heavily relies on inbound transactions, creating a diverse landscape characterised by various players, services, business models, and remittance types, including traditional, digital, and informal methods. Despite the challenges posed by the COVID-19 pandemic, the remittance market in Africa has proven to be remarkably dynamic and resilient, defying expectations of a decline in transactions. Comparing the present situation to the early 2000s, Ababacar highlighted the transformation from a market restricted by exclusive contracts favouring big players in international transactions to a more open and inclusive space that allows for domestic, regional, and international remittances. In the past, high prices were a significant barrier, but the advent of digital remittances has started to address this issue, although cash remains important due to cultural and behavioural factors.

The region’s people embrace digital tools but still value the human element. For example, using digital wallets for making in-person purchases keeping the face-to-face experience intact. It’s a reminder that, even in our tech-driven world, the human connection remains a crucial part of how Africans handle their finances.

There has been growth in various sectors, such as mobile money, payments, sending goods, and B2B remittances, indicating the expanding horizons of remittance services. Furthermore, the informal market, once overlooked, is now recognised as a major untapped opportunity in the evolving landscape of remittances in Africa.

George recalls how in the past there was a heavy reliance on fax for transactions, which could take up to a week, whilst the shift to bank deposits seemed promising for quicker transactions, the uptake was low due to financial exclusion. The prevalence of cash transactions in Africa posed challenges for cash pickup in banks, requiring identification. However, the digital revolution, with its elimination of such barriers, has unlocked the potential. The increasing role of Mobile Network Operators (MNOs), expanding rapidly across Africa, is a key driver of this growth, making the remittance landscape more accessible and promising for the future.

Reynell delves into the changing dynamics from a banking perspective. Historically, banks in Africa primarily focused on settlements, with the actual business of money transfers being led by Money Transfer Operators (MTOs) and Payment Service Providers (PSPs). Remittances, play a crucial role in contributing significantly to the GDP of African countries, with figures ranging from 5-6% in countries like Ghana and Nigeria, and up to 10% in other regions. This underscores the economic importance of remittances in the African context.

The regulatory environment in Africa presents a hurdle, slowing down the pace of innovation for banks. Unlike MTOs, many banks in Africa still operate in person, leading to higher operational costs. This insight showcases the need for adaptation and innovation within the banking sector to keep pace with the evolving remittance landscape in Africa. Despite these challenges, Reynells perspective highlights the immense significance of remittances for African economies and the imperative need for banks to navigate regulatory complexities to actively participate in the changing dynamics of the remittance market in the continent.

What should companies be thinking about when entering this market?

It’s crucial to have a well-thought-out strategy when venturing into the African remittance market. Licensing requirements, play a pivotal role in determining the speed of market entry. Partnerships are another key factor that can significantly accelerate the entry process, emphasising the collaborative nature of the industry.

You can easily tap into reliable partners to fast-track your entry into the market through RemitONE Connections to secure you with an instant business community that would take months and years to build yourselves within the Africa region. This also means you must have flexible technology with strong API integration capabilities to connect, RemitONE’s Money Transfer Platform is both modular and scalable. For more information get in touch with us at sales@remitone.com.

Temi suggests, a targeted strategy focused on specific regions is more effective rather than adopting a broad approach. For instance, in francophone regions of Africa where french is widely spoken as a second language, similar regulations and cultures prevail. By tailoring strategies to these specific regions with shared characteristics, one can enhance the effectiveness of market penetration.

George reassures that entering the market shouldn’t be daunting as specialists are available in every country to help guide you through the loops. However, a thorough understanding of the local customer dynamics, including their behaviour, attitudes, and cultural nuances is essential. He advocates for a more strategic approach that involves aligning with the demographic profiles of potential customers that resonate with the services your company offers. This perspective underscores the importance of cultural sensitivity, customer-centric strategies, and long-term relationship building as key considerations for companies seeking to successfully enter and navigate the African remittance market.

What innovative technologies and platforms are reshaping the way remittances are sent and received in Africa, and how are they increasing financial inclusion?

Mobile money has significantly altered the dynamics of remittance transactions with the help of the widespread ownership of mobile devices, coupled with increased telecommunications access, which has catalyzed a notable surge in remittances across the continent. Partnerships between remittance providers and telecommunications companies like Safaricom, have also played a pivotal role. This collaborative approach has proven instrumental in fostering innovation within the industry, creating a synergistic environment where different players work together to enhance services and accessibility.

Furthermore, the adoption of stablecoins, with the involvement of companies like Stellar and Ripple, is an emerging trend. These digital assets provide stability in value and are being utilised by companies to facilitate remittance transactions, offering an alternative to traditional currency-based transfers.

Interoperability, between mobile wallets, bank accounts, and cash through partnerships, is another critical aspect of the evolving remittance landscape in Africa. The seamless connectivity between various financial instruments and channels ensures a more inclusive and user-friendly experience for individuals sending and receiving remittances.

What challenges do African diaspora communities face when sending remittances, and how can these obstacles be addressed to improve the flow of funds?

High costs associated with remittances into Africa continue to persist, irrespective of the sending country, attributable to both financial and regulatory obstacles. Despite the advent of mobile money, Reynell believes certain African countries still heavily rely on physical locations such as banks or MTOs, posing difficulties for beneficiaries in accessing funds.

Additional challenges faced by the underbanked, particularly in rural areas and villages, where limited access to banks poses a significant barrier. Foreign exchange (FX) fluctuations were identified as another obstacle, leading to reduced amounts being received by the recipients. In addition, regulatory challenges also extend to the senders, particularly undocumented migrants who wish to send funds. The need for proof of address or source of funds presents a barrier, hindering their ability to send remittances until these documents are provided. To mitigate this challenge, George proposes that an alternative solution would involve embracing informal money transfer methods as well as the increasing interoperability between MNOs which will provide new opportunities for more efficient and cost-effective money transfers.

Ababacar further observes that while Africans can travel between countries with just their ID, the requirement for a passport when sending money presents a misunderstanding and inconsistency that act as barriers to entry for remittances from the diaspora. This discrepancy in identification processes poses a challenge, adding an unnecessary layer of complexity for individuals attempting to send funds.

He further points out the lack of interoperability across the continent. The absence of a unified system restricts some diaspora communities from utilising MNOs as a viable option for remittance transactions. This limitation not only hinders the accessibility of services but also contributes to the overall challenge of navigating the remittance landscape.

Also, within many MNOs, there isn’t an available option to transact money in different currencies. This lack of flexibility in currency options adds another layer of complication for the diaspora communities attempting to send funds across borders.

To tackle these challenges, improving identification processes by harmonising them with the adaptable regulations in Africa may help alleviate inconsistencies in requirements. Furthermore, fostering interoperability across the continent would amplify the accessibility of remittance services for diaspora communities. Urging MNOs to offer transaction options in various currencies would significantly ease the flow of funds, catering to the diverse needs of the African diaspora.

What innovations are emerging within the mobile money ecosystem that have the potential to further enhance the convenience and efficiency of remittance transactions?

Mobile money services have notably increased accessibility by introducing digital wallets accessible through mobile phones. These mobile wallets have evolved beyond simple remittance tools and can now function similarly to bank accounts, offering users the ability to engage in activities such as loans, savings, bill payments, and more through dedicated mobile apps.

The widespread adoption of mobile wallets has spurred further innovation, with the integration of technologies like artificial intelligence (AI) to assess credit scores. This, in turn, enables the provision of loans and overdrafts based on users’ spending patterns, showcasing a holistic approach to financial services within the mobile money ecosystem.

George highlighted the cultural integration of mobile wallets in African daily life, noting that some individuals receive their salaries exclusively through mobile wallets. This trend has led to mobile wallets becoming integral to people’s lives, so much so that even transport providers can be paid using mobile money. The efficiency and convenience offered by mobile wallets have positioned them as more than just a substitute for traditional banking; they have become the preferred choice for many. Euromonitor International found in the sub-Saharan African region, there were over 600 million registered mobile money accounts, facilitating transactions exceeding USD 600 billion in 2022, with it expected to grow even more in the coming years, especially with the help of central banks reducing barriers to entry.

Moreover, George speculated on the future trajectory, foreseeing a potential end to the dominance of cash in the coming years. However, he acknowledged that this transformation depends on continued investments in the economy and the infrastructure required for the digital revolution to take root.

Priscilla added to this narrative by drawing parallels with Brazil, where digital payments, exemplified by Pix payments, have also been gaining prominence. These digital payment methods contribute significantly to driving economic growth, simplifying transactions, and mirroring the trend observed in the African mobile money ecosystem.

What next?

At RemitONE, our commitment is to provide you with cutting-edge technology, compliance solutions, and expert guidance to navigate the ever-evolving landscape of remittances. Whether you’re just starting out or looking to scale your business, we’ve got you covered.

Want to see how RemitONE can elevate your business? Book a free consultation with our experts today!

Interview with David Lambert, from Paycross | IPR Global 2023

We sat down with David, CEO of Paycross during our Innovation in Payments and Remittances (IPR) Global event, to share his views on open banking, payment processing and much more.

David is a seasoned payments professional with a rich background spanning 12 years in the industry. His expertise encompasses card payment processing, cross-border payments, open banking, and transaction data analytics, with a specialised focus on the remittance sector.

Watch the full video to find out his thoughts.

Payments Rewired: Blockchain’s Impact on Remittances | IPR Global 2023

In this instalment, we traverse the corridors of Open Banking’s impact on cross-border remittances, harnessing AI’s potential for efficiency, and navigating the realm of blockchain-based solutions. Buckle up for an insightful session through the dynamic intersection of finance, technology, and innovation.

Moderator

Lindsay Lehr, Managing Director, PCMI

Panellists:

Walter D’Cruz, Director, Moneo Solutions
Sukhi Srivatsan, Head of Account Management, AZA Finance
David Lambert, CEO, Paycross

How does open banking facilitate cross-border remittances and interoperability between financial institutions?

Let’s first understand what open banking is before diving in. David summarises it as an instant domestic bank transfer system. This essentially allows third-party entities access to users’ financial data via APIs, enabling them to make payments on behalf of the user. Walter expanded on this, emphasising how real-time payments and data exchange are subsets of open banking. He highlighted the challenge it poses to direct debit and recurring payments, especially in merchant-initiated transactions.

David also shed light on Open Banking’s potential as an alternative payment method by making instant payments by just scanning QR codes; however, he notes its limited spread in the market. Drawing parallels with established systems like PayPal or Apple Pay, he stressed the need for better branding and consumer familiarity to propel Open Banking into a mainstream payment method. Moreover, the discussion linked Open Banking to Central Bank Digital Currencies (CBDCs), foreseeing their role in accelerating international payment rails for faster digital currency. However, concerns were raised about CBDCs being entirely under central banking control, prompting potential government involvement due to public apprehension.

How can AI be leveraged to enhance the accuracy of remittance transactions and improve the user experience?

Sukhi highlighted critical pain points faced at AZA Finance when it came to liquidity projection and forecasting for their clients. Addressing the need to ensure sufficient currency availability at the right time and place without inflating costs for clients. To tackle this, they created an internal model that utilised historical client data to predict future growth patterns, aiding in better preparation for customer demands and enabling proactive measures such as potentially offering increased liquidity when moving to new markets.

However, David expressed scepticism about the reliability of predictive AI for precise forecasting. He highlighted the limitations of AI, emphasising its dependence on the data it’s fed and its inability to independently form entirely accurate projections due to various external factors influencing trends. He believed AI must be heavily controlled, such as by setting rule parameters and cautious utilisation, to prevent misleading or inaccurate predictions.

Acknowledging this, Sukhi agreed that human involvement was crucial. While AI forecasts might not be pinpoint accurate, they allow for better-informed decisions.

Walter countered common fears around AI. He emphasised AI’s role in expediting data analysis by enabling quicker translation of data into actionable insights, thereby saving time and effort. Walter advocated for a practical approach, distancing from rigid rule parameters, which is especially beneficial for small to medium-sized enterprises (SMEs) that often struggle with sourcing and analysing multiple data sources to make informed decisions. This flexibility allows smaller businesses to compete and innovate alongside industry giants.

What are some real-world examples of successful blockchain-based remittance solutions?

Walter sees blockchain as a global equaliser capable of transferring value across boundaries in real time. However, he underscores the importance of recognising blockchain independently from central bank digital currencies (CBDCs) and cryptocurrencies, as they still involve inherent complexities like exchange rates and associated costs. However, the challenge of decentralisation may be difficult for society to embrace.

David, on the other hand, points out a fundamental issue: the persisting limitations in the speed of money movement due to technological and regulatory barriers. He notes that blockchain doesn’t inherently address this challenge, especially with governments increasingly advocating for CBDCs, which introduces another layer of complexity and opposition.

Furthering the conversation, Walter delves into the intricacies of technological efficiency. He cites an example of banks implementing cheque scanners to streamline verification processes, yet this technological enhancement didn’t significantly impact on the time taken for the money to be deposited into bank accounts. This prompts doubts about the effectiveness of new technologies in speeding up financial transactions. There is the possibility for a potential paradigm shift if major retailers, such as Amazon, embed cryptocurrencies. There is also an opportunity for the adoption of blockchain within the remittance industry; however, there needs to be collaboration among stakeholders to lay down a functional framework and process. This collective effort is crucial to overcome the hurdles and ensure a more meaningful integration of this technology into the financial landscape.

What next?

Want to see how RemitONE can elevate your business? Book a free consultation with our experts today!

Interview with Priscilla Friedman, from CrossTech | IPR Global 2023

During our Innovation in Payments and Remittances (IPR) Global event, we met Priscilla, COO of CrossTech, to share her thoughts on the payments and remittance events industry.

Priscilla Friedman has an extensive background in operations management, strategy, process improvement, consulting and training. Her role as a Chief Operating Officer with CrossTech involves optimising operations, organising and managing events, and relationship management whilst building upon the company’s legacy.

Watch the full video to find out what she has to say.

RemitONE Feature Focus Webinar: Securer Transactions, Anti-Fraud Tools & White-Label Mobile App

In this webinar, our speakers will unveil powerful tools to combat fraudulent onboarding, ensure secure transaction management on both Android and iOS, and gain centralised control of your branded mobile app for seamless operations.

Each quarter, we will host live webinars to explore and demonstrate updates and improvements to the Money Transfer Engine, and chat with our valued clients about features they want to implement or wish to see in the future.

For more information on enabling new features on your system, contact support@remitone_admin

What next?

Want to see how RemitONE can elevate your business? Book a free consultation with our experts today!

RemitONE Winners of the CrossTech ‘White Label Provider’ of the Year Award at CrossTech World 2023 in Miami, USA!

We are thrilled to announce that RemitONE has achieved the ‘White Label Provider’ Award at the CrossTech Awards 2023 in Miami, USA. This milestone highlights our relentless pursuit to tailoring top-notch solutions for our clients and their customer’s needs to ensure a seamless and satisfied user experience. Esteemed industry judges, renowned for their expertise, acknowledged the significance of our technology.

Representing RemitONE at the event, our Assistant Marketing Manager, Harriet Garcia, accepted the award and expressed our gratitude to everyone involved in our journey to success.

At RemitONE, we’re continuously evolving to match market trends, our system has been reviewed by global regulators and central banks, prioritising the utmost security for our clients’ data. Moreover, this achievement reflects the dedicated efforts of our exceptional team at RemitONE, whose dedication to innovation and delivering outstanding results has been pivotal to our success.

This award stands as a testament to our ongoing commitment to pioneering advancements in the payments and remittance industry, ultimately enriching the lives of migrants and their families worldwide. To explore our award-winning Money Transfer Software, reach out to us at sales@remitone.com.

Mastering Modern Compliance: Adapting to the Changing Landscape and Overcoming De-risking

The essence of your money service business (MSB) survival lies in compliance. Every passing year brings forth changes, demanding continuous vigilance to keep pace with evolving laws and regulations, ensuring sustained compliance for business operations.

Join us in this discussion as we explore the dynamic trends shaping compliance, uncovering strategies to proactively anticipate and adapt to upcoming changes, enabling businesses to stay ahead.

Moderator

Rob Ayers, Business Development, Bates Group

Panellists:

Ibrahim Muhammad, Senior Payments Consultant, Finxplor
Nadeem Qureshi, CTO, USI Money
Jonathan Jensen, Global Regulatory Policy Advisor, GBG

How has the landscape of compliance in payments and remittances changed over the years and what are the driving forces behind these changes?

Ibraheem reflected on the earlier era in the mid-’90s when operations took precedence over compliance, with front offices catering to customers and back offices managing processes without dedicated compliance teams. However, events like 9/11 marked a turning point, prompting companies to recognise the vital role of compliance and the necessity for dedicated compliance teams. Ibraheem believes technology advancements, regulatory changes, and evolving customer expectations as the primary driving forces behind these changes.

Jonathan also observed a heightened emphasis on a risk-based approach in recent years, noting a departure from rigid, prescriptive regulations to more flexible frameworks

Nadeem echoed the sentiments of his fellow panellists and shed light on the pandemic-induced surge in regulatory pressure, compelling firms to prioritise operational resilience programs. Regulators increasing demand on firms to implement such programs was another noticeable shift, reflecting the evolving nature of compliance requirements in response to global challenges.

Can you provide examples of regulatory changes which have had a significant impact on the payments and remittance industry? How have organisations adapted to comply with these changes?

In the wake of the pandemic, there’s a growing emphasis on implementing resilience and operational strategies. There are concerns firms are unprepared for the Consumer Duty regulation that commenced in July 2023. This regulation demands higher standards for customer care, aligning products/services with customer needs, and ensuring fair pricing. Nadeem discussed essential considerations for firms, such as ensuring tailored customer services for individuals with disabilities and effectively identifying the needs of vulnerable customers. He cautioned that many firms have yet to implement these regulations in their operations, suggesting seeking advice from advisors, consultants, and relevant departments to avoid potential penalties for non-compliance.

Jonathan also noted a recent regulatory change acknowledging the advantages of technology. He highlighted the Joint Money Laundering Steering Group’s (JMLSG) publication advocating for biometric checks to prevent fraudulent onboarding, showcasing a regulatory shift towards acknowledging and leveraging technological advancements for enhanced security and fraud prevention in the industry.

We at RemitONE have recently collaborated with GBG to introduce the RemitONE Liveness feature™, a vital defence for our clients in today’s technology-driven world. The risk of impersonation looms large, causing considerable financial losses for companies due to fraudulent activities. Therefore, safeguarding your system with this tool is crucial to combat fraudulent onboarding effectively.

This technology includes liveness testing, which alongside facial biometrics, detects fraudulent attempts such as deepfake images or silicone masks used during selfie submissions. This ensures that the submitted biometric data originates from a genuine person who is physically present. By equipping your systems with this tool, you can effectively prevent fraudulent onboarding, reducing the risk of severe financial losses and potential damage. Looking ahead, such advancements promise a future where companies can safeguard their operations more effectively, fostering trust and security with their customers.

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What are the primary reasons behind financial institutions’ decisions to de-risk and how can payment providers mitigate the impact of de-risking on their operations?

There is a growing need for stringent policies within banks to combat financial crime, highlighting the persistent challenge posed by cross-border regulatory disparities, as noted by Nadeem. Banks weigh commercial viability and transactional volume heavily, often leading to sector exits. However, with the evolving landscape, there are more available options like payment service providers and EMIs offering umbrella accounts, catering to small and medium-sized enterprises (SMEs) transfer operators.

There are also different regional variations approaches to de-risking. Ibraheem referenced a case where a UK politician’s account closure, sparked media attention on political implications, which led the FCA to address the issue, by tightening regulation. Stakeholders should take a collaborative approach in the payment ecosystem for a more nuanced, risk-based approach rather than blanket policies. There is also a UK trend of reluctance in onboarding PEPs due to high incorporation costs, this reinforces the need for a risk assessment based on sectors and jurisdictions rather than denying access. This approach could streamline onboarding while minimising risks associated with certain customers.

The panellists collectively agreed with the necessity for adaptive, risk-centric approaches within financial institutions to mitigate de-risking impacts on payment providers and foster a more inclusive yet secure financial landscape.

What role does customer due diligence (CDD) play in modern compliance efforts and how can organisations balance customer experience with the need for rigorous customer due diligence requirements?

CDD is the core of compliance, but there needs to be a balance between conducting necessary checks without disrupting the customer experience, as expressed by Jonathan. Leveraging appropriate technology to streamline processes and ensure a seamless experience for customers while effectively fulfilling CDD requirements is crucial.

Ibraheem highlighted the varying approaches taken by companies, tailoring due diligence based on regions and types of products or services offered. He explained that transactions to high-risk jurisdictions warrant enhanced due diligence, while those to lower-risk areas could involve less stringent checks for customer convenience. Additionally, Ibraheem pointed out that different services, such as cash pick-ups versus account transfers, require varying levels of scrutiny, aligning due diligence with the nature of the service provided.

Nadeem echoed the sentiments of Jonathan and Ibraheem, emphasizing the importance of aligning enhanced due diligence (EDD) with the commercial model, service type, and territorial risks. He underscored the benefits of applying a risk-based approach, suggesting that robust internal systems established through such an approach can yield long-term benefits for organisations in compliance efforts.

What next?

Want to see how RemitONE can elevate your business? Book a free consultation with our experts today!

We’re Attending Crosstech 2023 | 14-16 November 2023

We’re delighted to announce that our RemitONE team will be heading to Miami, USA to attend the upcoming CrossTech event. We eagerly look forward to forging connections with prospective partners and reconnecting with the valued clients who have been instrumental to our journey.

If you plan to attend the CrossTech event, we’d love to set up a meeting and explore possible potential synergies between RemitONE and your company.

Schedule a meeting with the RemitONE team by emailing marketing@remitone.com

We’re thrilled to have the opportunity to connect with valued members of our industry and uncover opportunities for a successful collaboration!

Innovation in Payments and Remittances (IPR) Awards 2023

RemitONE is delighted to announce the winners of the 2023 Innovation in Payments and Remittances (IPR) Awards.

Start-up of the Year Award 2023

Winner: PayOnlime

Honourable mention: Lollicash

Scale-up of the Year Award 2023

Winner: Clear Junction

Honourable mention: Remit Choice Limited

Leader of the Year Award 2023

Winner: Jones Amegbor, Founder & CEO (PayAngel)

Excellent Customer Service Award 2023

Winner: Trust Payments & Unity Link

Innovation Award 2023

Winner: Currencycloud

Social Impact Award 2023

Winner: HelloPaisa

Honourable mention: PayAngel

All entries were thoroughly evaluated by our esteemed judges comprised of global senior experts in the payments and remittance industry:

Leon Isaacs, CEO & Founder, DMA Global
Kathryn Tomasofsky, Executive Director, MSBA
Lindsay Lehr, Managing Director, PCMI
Rob Ayers, CEO, Fintech-Advisors
Sharon Gibson, CEO, JMMB Money Transfer
Veronica Studsgaard, Founder & Chairman, IAMTN

After the initial assessment, the award finalists were unveiled in August 2023. This was followed by the second stage, during which the judging panel reviewed all the finalist entries and selected the winners in each category through an anonymous scoring method.

The award winners were announced at the IPR Awards ceremony during the IPR Global Hybrid 2-day event on Tuesday 26^th September, in London, UK.

From Left to right pictured: (Top left) Larissa Rocha, Wayne Gould, Adel Taher, Jones Amegbor, Sohail Nizami and Joseph Lamptey. (Bottom left) George Boateng and Lindsay Lehr. (Top right) Rob Ayers and Adel Taher. (Bottom right) Sohail Nizami and Leon Isaacs.

About Innovation in Payments and Remittances (IPR)

In 2018, RemitONE launched Innovation in Payments and Remittances (IPR) to bring together various industry supply chain members to drive positive change. Through events and research reports, IPR brings together senior business leaders dedicated to enhancing the industry, enabling them to think big, share best practices, engage, learn, discover, create opportunities and shape change. With the power of collective insight, we can push innovation and industry growth boundaries and benefit from better outcomes.

The first IPR event was held in the iconic London landmark, The Shard. In 2021, due to the pandemic, the event was hosted online and attracted over 3,000 registrations worldwide. The IPR events are organised throughout the year to help industry stakeholders, visionaries and business leaders make informed decisions that ultimately benefit the consumer.

About RemitONE

RemitONE is the leading provider of end-to-end money transfer solutions for banks, money transfer operators (MTOs) and fintech start-ups worldwide. Our award-winning money transfer, compliance software products and consulting services – including MSB licensing, bank account provisioning and connections to our clients and partners – are tailored for the global money transfer market.

Organisations of all sizes use our platforms to run their remittance operations with ease and efficiency by reaching out to their customers via multiple channels, including agent, online and mobile.

For more information, or to access all the photos from the IPR Awards ceremony, please contact marketing@remitone.com