Brian Richardson, Managing Director, WIZZIT
The global remittance industry will be gathering at the MTI Global Remittance Summit 2009 in London on 10 & 11 November to foster an understanding of best practices, standards, trends and analysis of latest industry developments.
Money Transfer International (MTI) has received the backing of WIZZIT’s Brian Richardson, who says it is important for the global remittances industry to have one voice.
WIZZIT is a South African bank operating as a division of The South African Bank of Athens. It targets an estimated 16 million unbanked or underbanked South Africans, which is about 60 percent of the country’s population.
Richardson, who is managing director of WIZZIT, emphasises that when it comes to banking the unbanked, the simplicity of the product is crucial as it is essential not to confuse the target market: “We see money transfer as one part of banking the unbanked. Our view is to try and alleviate poverty by giving people access to a full spectrum of financial services. Domestic money transfers are part and parcel of our offering, rather than just being the offering.”
Richardson says that until now, banks have perceived the payments space as their domain. However, he expects to see more alliances between financial institutions and mobile operators in future due to the qualities that both parties can offer.
Nevertheless, he cautions that banks and mobile operators need to consider how any partnership will work commercially, given that they will be operating at the low end of the market where margins are very small.
“I think a lot of these questions will evolve over time and there are not any easy answers to them. I do not think there is anything that is cast in stone at this point. There are lots of models and paradigms that are being experimented with, and traditional ones are being challenged,” says Richardson.
How banks can collaborate with partners to provide an efficient and competitive service for the senders and recipients of remittance payments will be discussed during the MTI Global Remittance Summit 2009.
Money Transfer International is delighted to announce the following speakers:
Ralph Chami, Advisor and Head of the Regional Studies Unit in the Middle East
and Central Asia Department, The International Monetary Fund, Washington
Maria Soledad Martinez Peria, Senior Economist, Finance and Private Sector Development Research Group, The World Bank, Washington
Moises Jaimes, CEO, BBVA Bancomer Financial Holdings, Houston
Osama Hamza Al Rahma, General Manager, Al Fardan Exchange, Dubai
Anirudh Kamani, Head Global Remittances, ICICI Bank, Mumbai
Dirk H. Kranen, Coordinator of G8 Meeting on Remittances and Senior Official, Ministry of Finance, Berlin
Samar Baasiri, Head of Compliance Department, Bankmed, Beirut
Nassib Ghobril, Head of Economic Research and Analysis, Byblos Bank, Beirut
Phyllis I. Mbungu, CEO, Small and Micro Enterprise Project, Nairobi
Dominic Peachey, Senior Policy Advisor, Financial Services Authority, London
Seymour Fortescue, Advisor, World Bank and Chairman, UK Remittances Task Force, London
Aletha Ling, Executive Director, Fundamo, Cape Town
Kazi Islam, CEO, Grameen Solutions, Dhaka
Chidi Okpala, Head Branch Banking, Global Consumer Bank, United Bank for Africa, Lagos
Irunna Ejibe, Head of Diaspora Banking, Fidelity Bank, Lagos
Vineet Katial, Chairman and Managing Director, Krores, Dublin
Sudhir Kumar Shetty, Chief Operations Officer, Global Operations, UAE Exchange, Abu Dhabi
Thomas Labenbacher, Division Head Payment Services, SVP, Raiffeisen International, Vienna
Christian Udechukwu, Director, MTI West Africa
Premal Patel, Director, MTI Gulf
Francis Shobo, Group Head, Products & Channels, First Bank Nigeria, Lagos
Michael Whyte, Director, SWIFT, La Hulpe
Robert Meins, Remittances Specialist, IFAD
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MTI BOARD OF DIRECTORS
MTI is dedicated to promoting the development and interests of the remittances industry, worldwide. MTI is member-owned and has a powerful board. Board members and advisors of the association include representatives of Travelex, Earthport, Sun Microsystems, Capgemini Financial Services and HSBC.
Services provided by the association include documentation and research of industry trends and developments as well as the provision of a forum to combat money laundering. MTI will create a greater understanding of the informal money transfer market and the opportunities for inclusion into the formal sector. It will also provide a platform for industry networking and business development. Through a programme of best practice initiatives, accreditation, research, education and intelligence - MTI will be at the forefront of thought-leadership in the industry.
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