Fintech has the potential to alter financial services in the GCC by 2020, said an industry expert, adding that service is still in emerging status due to the lack of consumer confidence, issues of scale, and regulatory compliance.
Xpress Money, one of the world’s leading money transfer brands, witnessed a 12 per cent growth in its global operations in 2016, propelled by customer loyalty and a strong agent network.
Xpress Money saw its traditional remi
Remittances to low and middle-income countries (LMICs) are projected to hit $442 billion in 2016 – an increase of 0.8 per cent over the previous year, according to a World Bank report.
Remittances to the Mena region are expe
Western Union, a leader in global payment solutions, has launched a technology platform that integrates with leading consumer messaging and social media platforms to offer quick and convenient money transfers worldwide.
The WU Con
UAE Exchange, a leading global money transfer and foreign exchange brand, has tied up with Philippine’s Rizal Commercial Banking Corporation (RCBC), to offer remittance services in real time.
Now Filipinos, living outside th
UAE’s Foreign Exchange and Remittance Group (FERG) has turned up the heat on money laundering and frauds at its recent anti money laundering (AML) and combating terrorist financing (CTF) conference in Dubai.
The aim of the c
Several companies in China receive money from Iran through a Chinese bank and such transfers help to finance international operations of the Islamic Revolutionary Guards Corps' elite Quds Force, a report said.
The Western inte
Saudi Postal Corporation and Alinma Bank, one of the fastest growing banking institutions in the kingdom, have entered into an agreement with Western Union to offer money transfer services.
Under the agreement, remittance services
Regulators around the world must take action against the anti-competitive business and lobbying practices of Western Union and MoneyGram in Africa, said the CEO of UK-based WorldRemit, a global online money transfer business.
Bitcoin may not be the messiah of a new currency its hardcore fans yearn for, but it may herald the deeper financial revolution the internet has been waiting for.
While computers and smartphones have brought the web to more than a