Infographic Remittance

Remittance Infographic: The Demystifying the Cross Border Ecosystem

The World Bank estimates that remittances will total USD 636 billion in 2017, and with this comes the advent of e-wallets and disruptive fintech solutions seeking to help increase efficiency and smoothen the flow of these large sums of money.

These innovative solutions have more than halved operating costs of traditional money transfer operators. The Demystifying the Cross Border Ecosystem infographic serves to clarify and debunk myths about sending money through these avenues and raise awareness on the cost saving and easily accessible alternatives available to both businesses and individuals.

Here’s a short breakdown of the infographic:

How big a deal is remittance? We lay it out in terms relevant to Singapore
Who are the traditional remittance players and how they work
Who the new kids on the block are and how they disrupt the traditional methods
An example comparing the remittance processes of both traditional service providers and newer innovative solutions.