Remittance for all
Global remittances is a market that continues to grow, with about 800 million people, or one in nine people, either send or receive money. It is an industry-driven by low and middle-income countries by their migrant workers. For years, banks and brokers dominated the space and could charge large transaction and hidden fees, typically around 7% of funds sent. The growth of fintech has stepped in and changed the landscape for the better. Money that is sent continuously helps keep millions out of poverty, so with fintech services making the transaction safer and more affordable, it can enable more people to be more financially inclusive. While the status quo might have been working, fintech has made the services more convenient and far-reaching than ever before.