Global Money Transfer Summit - London 2011
More consolidation forecast in the remittances market IAMTN conference hears
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. This message was reinforced by a number of the key speakers at the excellently attended two-day meeting held on 15 and 16 November in London. In a wide-ranging agenda there was a consistent message, particularly from Europe and North America that there would be fewer money transfer operators in the future but that those that survived would be larger. This phenomenon is being driven by reducing prices, tighter margins and more competition.
The meeting covered all the key areas that affect the remittances business and featured key note speakers from organisations such as the World Bank, Financial Services Authority, MasterCard, MoneyGram, SWIFT, Times of Money and many others. Among the key themes that were explored were the adoption of the 5x5 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.
‘This was by far the most wide-ranging and informative conference that we have held to date’ says Leon Isaacs, Managing Director of IAMTN. ‘It really appears that the money transfer industry has come of age. We were delighted with not only the excellent attendance levels but also the high calibre and seniority of presenters together with the amount of business that was being undertaken during the breaks. The conference has provided clear mandate for IAMTN to continue to push forward in representing their interests with all key stakeholders including multilateral institutions and regulators’.
IAMTN is the only non-profitable organization that represents the Money Transfer industry across the globe and works with regional money transfer trade bodies.
For over 6 years IAMTN has been:
* Providing thought leadership activities and fostering an environment for debate and development globally
* Representing the views of members and the broader industry interacting with regulators and key international bodies such as:
- World Bank, UNCTAD, FATF, EU, HMRC, FSA, etc
* Organising global and regional events (Dubai, Moscow, Singapore and London) each year
* Providing a weekly news service on anything and everything to do remittances
* Operating an online library of research articles, news items and market data
* Providing members receive significant discounts on attending our conferences.
For the opportunity to find new international partners and influence global money transfer events get in contact now.
T:+ (44) 203 291 2634
- Contact Information
- Kellie Waidson
- Conference Manager
- (44) 203 2912634
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