M-Com Comments on Mobile International Remittances
Mobile International Remittances Present Transformational Revenue Opportunities for Retail Banks
M-Com's BankAnywhere platform supports both domestic and international remittances, having been proven in this context since 2007.
M-Com believes that international remittance services delivered via the mobile channel, delivers banks with compelling opportunities to create new revenue through:
- Increased funds under management from senders who retain their funds disproportionately in financial institutions that enable mobile money distribution,
- Increased transaction fees from remittances,
- Opportunities to acquire new customer segments that have specific domestic and international remittance needs,
- Acquiring 'receiving' segments through low cost, self-service product propositions.
To read more about the Mobile International Remittance Market and M-Com's views on its challenges and opportunities for financial institutions, see http://www.fstech.co.uk/fst/M-J10_CommsSupp_MobileRemittances.php