The pressures facing global remittance heavyweights have never been higher, with a shifting regulatory landscape, a transition away from cash and the ever-present threat of blanket de-risking by banks.
PaymentsCompliance spoke to Ismail Ahmed, founder and chief executive of the online remittance service WorldRemit, on how innovation and data is key when trying to migrate the legacy systems of traditional remittance into the 21st century.
“Ninety percent of the industry is still cash based,” he said, speaking on the sidelines of this month’s MoneyConf event in Dublin.
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