The Remittance Industry to Converge in Miami Next Week at IMTC WORLD 2014

MIAMI, Sept. 29, 2014 /PRNewswire/ -- IMTC will host its ninth International Money Transfer Conference and Trade Fair on October 6-9 in the beautiful Eden Roc Hotel in Miami Beach. Remittance Service Providers such as Bank and Non-Bank Financial Institutions, Money Transfer Operators (MTOs), Telcos and Mobile Network Operators (MNOs), Forex and Currency Traders, as well as a large number of professionals, consultants, vendors, and suppliers of the industry will be meeting at IMTC WORLD 2014. The Conference is sponsored by Merchants Bank of California, an industry banking partner, Globalvision and its monitoring system PatriotOfficer, as well as Mastercard, Homesend, Uniteller, Banorte, The Spark Group, and a number of firms and institutions providing services for the industry.

World Bank has estimated that growth in remittance flows is expected to increase 8.4% per year over the next three years, raising the volume to an estimated $681 billion in 2016. The market is still dominated by MTOs, Global Tier 1 companies, such as Western Union and MoneyGram, and Tier 2 companies such as Xpress Money and RIA Envia, a division of Euronet. There are a large number of Tier 3 companies, some of them quite large in their own markets, such as Contact in the CIS countries, Xoom, Dolex and Viamericas in the US. On the payout side of the equation, the picture is not as clear with local banks being very active in certain markets, while abandoning the service in others. The mobile penetrations rates in the developing world and the success of MNOs providing money transfer services in a number of markets are challenging banks and MTOs. Plus the buzz over virtual currencies is growing louder and its underlying technology holds great promise for the industry.

Hugo Cuevas-Mohr, Director at IMTC, released a document this week titled "Are Telcos, Money Transfer Companies (MTOs) and Banks on a Collision Course over Remittances?" that can be downloaded here. Cuevas-Mohr states: "IMTC is where all the institutions that are part of this large heterogeneous family converge to discuss partnerships and the challenges and opportunities that exist in the different markets around the world where migrants are sending money to their families back home. Technology is changing everything and both online and mobile channels are offering great solutions that all companies are eagerly moving into."

The conference presents three one-day pre-conference certification courses starting October 6^th: the "Money Transfer Compliance Course", the "Money Transfer Systems Course" and the "Virtual Currencies & Alternative Payments Course". The following two days and a half feature morning plenaries with the industry's top speakers and influencers, and three afternoon breakout sessions dedicated to Latin America, the Caribbean, Europe, Asia & Africa and the Money Transfer Compliance & Regulation track lead by compliance expert Connie Fenchel.

IMTC (http://www.imtconferences.com) organizes two conferences a year in the US: IMTC USA in Las Vegas and IMTC WORLD in Miami plus international conferences in Istanbul, IMTC EMEA 2015. IMTC ASIA in Mumbai and IMTC BRASIL will take place in 2016.

Contact Information
IMTC – In the US:  Sara LLano ([email protected]) +1 786 2387857

SOURCE IMTC