Meet Sandra Yao: Trailblazing the Way Chinese Business, Payments Interoperability, and Innovation Culture Flourish in Africa

By Olivia Chow Thunes offers a global platform that provides seamless transfer of funds between payment systems in more than 100 countries and 60 currencies. The company was born last year as the cross-border payments offspring of TransferTo, which was established in 2005 beginning with a mobile top-up and rewards business that has become the…

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Meet Patrice Kiiru and His Outlook on African Remittances

Equity Bank, once technically declared insolvent in 1993, now has more than 9 million customers, more than any other bank in Africa with nearly half of the bank accounts in Kenya. The company’s vision is “to be the champion of the socio-economic prosperity of the people of Africa,” with an agent-based model that has won…

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Latin America: Migration, Remittances and Market Impact

Both social and economic trends in Latin American and Caribbean countries are increasingly shaped by migration and its intersection with development and economic growth. Therefore, understanding future of migration and how its affect the region can offer cues as to the direction countries will take. An outlook of migration in Latin America and the Caribbean…

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The Growth of Migrant Services

Migrant Services Providers, from Travel & Foreign Exchange, to Remittances, airtime (top-ups), bill payment and now courier services, keep agents afloat while digital services continue their growth Download PDF Money Transfer Agents are a common feature in all migrant neighborhoods in cities across all the 5 continents. Full of services for migrants, they normally serve…

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Risk Management in US MSB Institutions

Introduction The US Bank Secrecy Act (“BSA”) requires that every Money Services Businesses (“MSB”) implement a BSA/Anti-Money Laundering (“AML”) Compliance Program. Risk assessments provide a clear view as to the organization’s policies and procedures. Failure to implement a comprehensive BSA/AML Compliance Program may result in significant fines and/or penalties by state and federal regulators. So,…

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