The World is Getting Smaller, as is Access to Bank Accounts
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 phenomenon is being driven by reducing prices, tighter margins and more competition. It is critical to understand the impact of the financial crisis of 2008 that started with the collapse of the financial sector in the United States and Western Europe quickly spread to countries around the globe in the remittance industry.
Despite an increasingly vigilant global regulatory environment in the remittances industry, such as in the UK and the US, where there are a strong number of non-bank RSPs, the current problem with accessing bank accounts is either increasing the bank charges making continuing operations more difficult or actually reducing the number of operators in certain corridors. Some banks are taking a strategic decision of closing or not opening bank accounts to non-banks RSPs. International banks are not always applying the same criteria in opening accounts for existing corporate clients in countries where they have subsidiaries.
As every year the International Association of Money Transfer Networks (IAMTN) is inviting money transfer professionals from all over the world to the major event of the industry - the Global Money Transfer Summit. This year’s London Summit will take place on 7th & 8th November 2012 at London Hilton Docklands Riverside.
Don’t miss this 2012 Summit. Register now.
The purpose of this Summit is to inform the money transfer operators, banks, foreign exchange houses, technology providers and other delegates of the trends that we are seeing and anticipating in the money transfer market.
We have an exceptional list of speakers who will cover items ranging from the big trends that are affecting the global environment for payments, the review of the PSD, new methods of making payments, social media right through to the nitty-gritty of anti-money laundering. In a well-balanced agenda there will be a day of plenary sessions as well as a day of workshops. In addition, the coveted IAMTN awards will be presented to the deserving winners.
Reserve your Sponsorship package now in order to increase your company’s exposure to our outstanding network of International Contacts. You will enhance your brand image whilst communicating your core values to new markets. As a result, you will improve your company’s image and reputation throughout the industry and increase awareness of your services within our network. This will provide you with instant brand recognition throughout the industry, allowing you to expand and strengthen your contact and client base.
The International Association of Money Transfer Networks (IAMTN) is the only organization that represents the Money Transfer industry across the globe and works with regional money transfer trade bodies. IAMTN was created on November 2005 to respond to repeated calls for a body that could represent the industry at an international level.
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 a global summit and regional meetings 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.
- Offering advisory and introductory services.
IAMTN offers Silver Membership, Platinum Membership and Gold Membership.
For more information: http://iamtn.org/membership_form
- Contact Information
- Kellie Waidson
- Conference Manager
- Contact via E-mail
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